The Asian Development Bank (ADB) committed $23.6 billion from
its own resources in 2023, including $9.8 billion for climate action, to help
Asia and the Pacific progress on sustainable development.
These figures are among the financial and operational results
published today in ADB’s Annual Report 2023. The report summarizes how ADB
supported its developing member countries (DMCs) in addressing the worsening
climate crisis and the impacts of conflicts, food insecurity, and increased
debt burdens, among other challenges.
“ADB continued to step up as the climate bank for Asia and the
Pacific, reaching our highest-ever annual financing for climate action,” said
ADB President Masatsugu Asakawa. “Our investments in adaptation and mitigation
strongly focused on climate-resilient agriculture, renewable energy, and
low-carbon transport.”
The $23.6 billion comprised loans, grants, equity investments,
guarantees, and technical assistance provided to governments and the private
sector. Supplementing its own resources, ADB mobilized an additional $16.4
billion in cofinancing through its strong partnerships.
ADB invested heavily in building high-quality energy, transport,
and other infrastructure essential for sustainable development. It further
strengthened the region’s human capital through increased support for education
and health.
Addressing gender inequality continued to be a cornerstone of
the bank’s work, with almost all its 2023 operations contributing to reduce
remaining imbalances, including support to mitigate the disproportionate gender
impacts of climate change.
The report explains how ADB is evolving so it can help
accelerate the region’s progress toward the Sustainable Development Goals.
Major capital management reforms introduced in 2023 will bolster the bank’s
future lending operations by unlocking up to $100 billion in new lending
capacity over the next decade. ADB also began rolling out its latest operating
model in 2023, a generational transformation to improve how the bank serves its
clients.
“Our new operating model has enabled ADB to make the key shifts
needed to deliver better, faster, and more tailored support to our DMCs,” said
Asakawa.
ADB is committed to
achieving a prosperous, inclusive, resilient, and sustainable Asia and the
Pacific, while sustaining its efforts to eradicate extreme poverty. Established
in 1966, it is owned by 68 members—49 from the region.
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