London, February, 2022 — The Asian Development Bank, the leading provider of loans, technical assistance, grants, and equity investments to promote social and economic development across the APAC region, has approved the use of Legatics for legal transaction management.
“I am delighted that the Asian Development Bank has endorsed the use of Legatics,” said Head of Engagement, Daniel Grant-Smith. “ADB has been using the Legatics platform for transactions on which it is a counterparty in a number of regions. It is an honour to now be formally approved for use by ADB with its law firms and to support them on their projects promoting social and economic development.”
According to Cathy Marsh, Assistant General Counsel for ADB’s private sector operations, “In general, online data rooms facilitate better communication between deal teams and expedite the processing of transactions by providing a platform to share and review documents. Legatics goes beyond this, providing an all-round conditions precedent management process. The Legatics platform has been used in some of our transactions, and we have found it both easy to use and very helpful in terms of the overall process – so much so, that we now request confirmation from external counsel as to whether they have a system such as Legatics’s secured platform to deploy on our transactions.”
About the Asian Development Bank
The Asian Development Bank (ADB) envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region. Despite the region’s many successes, it remains home to a large share of the world’s poor: 263 million living on less than $1.90 a day and 1.1 billion on less than $3.20 a day.
ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development. ADB maximises the development impact of its assistance by facilitating policy dialogues, providing advisory services, and mobilising financial resources through co-financing operations that tap official, commercial, and export credit sources.
Legatics is an intuitive, intelligent deal platform that simplifies and automates traditional legal processes. Designed by lawyers to improve legacy working methods and solve practical transactional issues, it increases collaboration, efficiency and transparency. Legatics transforms legal transactions, providing a better deal experience for all parties, and freeing lawyers from unnecessary administrative tasks.