Manila [Philippines], September 28 (ANI/WAM): The Asian Development Bank (ADB) has signed an agreement with the International Finance Facility for Education (IFFEd) that will enable at least USD 500 million in new concessional education funding for lower middle-income countries (LMICs) in Asia and the Pacific. Under the financing partnership, IFFEd–a sovereign-backed Swiss foundation established in 2023 to invest in education and skills in LMICs–will guarantee USD 125 million of ADB’s sovereign loan exposure across all sectors, known as a synthetic portfolio, and provide an initial USD 50 mi…
