Revised Lending Rates and Funding Cost Margins for the Asian Development Bank's Loan Products (January-June 2023)

In July 2021, the Asian Development Bank Board of Directors approved the change from the London interbank offered rate to the Secured Overnight Financing Rate for United States dollar-denominated loans and to the Tokyo Overnight Average Rate for yen-denominated loans.

The funding costs are determined semi-annually by calculating the average funding cost margin below or above the relevant benchmark in each currency for all borrowings funding the loan pool of the same currency during the previous semester.