Form DSTRBRPT ASIAN DEVELOPMENT BANK

	Your Ref: SEC File No. 83-2
	Re: Section 11 (a) of the
	Asian Development Bank–
	Regulation AD Rule 2(a)

There were no material modifications or amendments of any exhibits previously filed with the Commission

ASIAN DEVELOPMENT BANK TREASURY DEPARTMENT FUNDING DIVISION

APPENDIX A

SUMMARY OF NEW BORROWINGS

FOR THE FOURTH QUARTER 2024

ASIAN DEVELOPMENT BANK TREASURY DEPARTMENT FUNDING DIVISION

APPENDIX B

Appendix C

RESOLUTION

GLOBAL BORROWING AUTHORIZATION FOR 2025

WHEREAS

The Asian Development Bank (ADB) has determined to borrow funds in 2025;

NOW THEREFORE BE IT RESOLVED AS FOLLOWS:

1.       ADB is hereby authorized to undertake borrowings from time to time during 2025 and, for this purpose, (i) to create and sell issues of obligations with final maturities of one day or more from the date of issue (Bonds), and (ii) to undertake direct borrowings of funds for terms of one day or more (Direct Borrowings) in accordance with the provisions of this Resolution. For the avoidance of doubt, Bonds may provide for early redemption at any time prior to final maturity, and Direct Borrowings may provide for prepayment at any time prior to the end of their term.

2.       The President or any Vice-President is authorized to approve each issue of Bonds and each Direct Borrowing. The Treasurer is authorized to approve (i) each issue of Bonds under the Global Medium-Term Note Program involving principal amounts (or, in the case of non-interest bearing or deep discount Bonds, aggregate proceeds) not exceeding $5.0 billion equivalent per issue; and (ii) each issue of Bonds under any local currency medium-term note program, and each issue of Bonds (not under the Global Medium-Term Note Program and any local currency medium-term note program) denominated in currencies that ADB has previously issued in, involving principal amounts (or, in the case of non-interest bearing or deep discount Bonds, aggregate proceeds) not exceeding $2.0 billion equivalent per issue. In this connection, the President, any Vice-President, or the Treasurer, as the case may be, is authorized to determine, to the extent relevant, in respect thereof:

3.        ADB is further authorized to undertake borrowings from time to time during the same period to refinance its existing borrowings. The President, any Vice-President, or the Treasurer, as the case may be, is authorized to approve each such refinancing transaction and to make, in respect of each such refinancing transaction, the determinations contemplated by para. 2 above. Such refinancing transactions shall not be subject to the limitation set forth in para. 1 above.

4.        Except as provided in this Resolution or as the President or a Vice-President may otherwise determine, the Borrowing Regulation of ADB shall apply to Bonds, Direct Borrowings, and refinancing transactions authorized by this Resolution.

5.       The Board of Directors will be notified of the terms of each bond issue completed on a quarterly basis.

6.       Formal action in connection with any specific borrowing hereunder shall be subject to the approvals of the governments of the countries concerned, as required by Article 21(i) of the Agreement Establishing the Asian Development Bank.

GLOBAL AUTHORIZATION FOR SWAP TRANSACTIONS IN 2025

WHEREAS

The Asian Development Bank (ADB) intends to enter into currency swap, interest rate swap, and repurchase transactions in 2025;

NOW THEREFORE BE IT RESOLVED AS FOLLOWS:

1.        ADB is hereby authorized to undertake from time to time during 2025 any currency swap transactions, interest rate swap transactions, cross-currency rate swap transactions, repurchase transactions, and transactions of a similar nature (each, a swap transaction) in accordance with the provisions of this Resolution.

2.        The President or any Vice-President may approve the undertaking of any swap transaction in connection with any of ADB’s borrowings and asset and liability management transactions with such party or parties and on such terms and conditions as the President or any Vice-President shall determine. The Treasurer may approve the undertaking or termination of any swap transaction in connection with (i) ADB’s borrowings under the Global Medium-Term Note Program involving principal amounts (or, in the case of non-interest bearing or deep discount borrowings, aggregate proceeds) not exceeding $5.0 billion equivalent per borrowing; (ii) ADB’s borrowings under any local currency medium-term note program, and ADB’s other borrowings (not under the Global Medium-Term Note Program and any local currency medium-term note program) denominated in currencies that ADB has previously issued in, involving principal amounts (or, in the case of non-interest bearing or deep discount borrowings, aggregate proceeds) not exceeding $2.0 billion equivalent per borrowing; and (iii) ADB’s asset and liability management transactions, involving principal amounts (or, in the case of non-interest bearing or deep discount borrowings, aggregate proceeds) not exceeding $1.0 billion equivalent per transaction, in each case with such party or parties and on such terms and conditions as the Treasurer shall determine.

3.        Any Authorized Representative (as hereinafter defined) may, in the name and on behalf of ADB, (i) sign and deliver any agreement or document providing for any swap transaction approved by the President, any Vice-President, or the Treasurer, as the case may be, in accordance with para. 2 above; and (ii) execute and deliver all such other documents and do all such other acts as he or she shall deem necessary or advisable in order to carry fully into effect the authority granted him or her under this Resolution.

4.       For the purposes of para. 3, the approval and determinations of the President, a Vice- President, or the Treasurer, as the case may be, shall be conclusively evidenced by execution by an Authorized Representative of any agreement or other document providing for such swap transaction.

5.        For the purposes of this Resolution, "Authorized Representative" means