Asian Development Bank unveils new Singapore office

It comprises 12 specialists from ADB’s PSOD and Office of Public-Private Partnership.

Asian Development Bank (ADB) has opened its new branch in Singapore as part of its efforts to further expand its private sector operations, an announcement revealed.

It will be a lean and focused office comprising 12 specialists from ADB’s Private Sector Operations Department (PSOD) and Office of Public-Private Partnership working in a range of sectors including infrastructure, financial institutions, agribusiness, health and education, trade finance, private equity, and co-financing.

The Singapore team is led by Sonali Tang, who has worked at ADB for five years in various senior roles.

ADB’s private sector operations promote the investment of private capital for development purposes. Last year, PSOD operations completed 38 transactions, around one-fifth of ADB’s total operations by number.

ADB aims to increase this to one-third of total operations by 2024.