ADB rings in the changes

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13 January 2010

The Asian Development Bank is implementing changes to the way it does business to improve the quality and responsiveness of its work and lower transactions costs.

The Asian Development Bank (ADB) has begun implementing sweeping new changes to the way it does business to improve the quality and responsiveness of its work.

Starting this January, business processes are being streamlined to make them more efficient, to lower transaction costs, and to enable ADB to respond swiftly to client needs. The improvements will help ADB realise the development...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%