Faster Approach to Small Nonsovereign Transactions: Operations Report, 2016–2017

Abstract

In March 2015, the Board of Directors of the Asian Development Bank (ADB) approved the policy paper for the faster approach to small nonsovereign transactions (FAST), a streamlined approval process for small nonsovereign transactions. Under the Board-approved framework, the President, as delegated by the Board, makes the final decision on whether to finance any “qualifying transaction” where (i) the aggregate amount of ADB’s financial assistance does not exceed $20 million ($10 million for equity investments), and (ii) the proposed transaction is consistent with a set of predefined criteria. These criteria are summarized in Appendix 1. The FAST policy paper mandates an operations report be submitted to the Board, providing annual utilization statistics, an overview of qualifying transactions, and key performance indicators. The first operations report covering April 2015 to March 2016 was submitted in June 2016. This operations report covers April 2016 to March 2017.