The Asian Development Bank called on Saturday for immediate action from global governments to combat soaring food prices and pledged fresh financial aid to help feed the Asia Pacific region’s poorest nations. ADB president Haruhiko Kuroda told a news conference in Madrid, where the bank is holding its four-day annual meeting, that total lending ”could be sizeable, but not enormous”.
The Asian Development Bank (ADB) is taking large risks by investing more in private equity firms than it is allowed to and internal controls of such investments show ”serious weaknesses”, a media report said on Monday. The bank ”breached its capital allocation limit for private equity funds of 5%”, said the Financial Times, adding that it needed new risk management standards.