The Asian Development Bank's (ADB) projects, programmes, and other development support for its developing member countries in Asia and the Pacific amounted to $33.74 billion in 2019, according to the Annual Report 2019 published today.
Underscoring strong commitment to its vision of a prosperous, inclusive, resilient, and sustainable region, the report provides a comprehensive account of the operational and financial results of ADB in 2019—the first full year of implementation of the bank's long-term corporate strategy, Strategy 2030.
ADB President Masatsugu Asakawa said, "I am encouraged by our efforts in 2019. I am heartened by what we have achieved so far in 2020."
"We will build on these achievements to ensure we remain relevant and responsive to our members' needs as they take action to combat and recover from the novel coronavirus disease (Covid-19) pandemic," he added.
New commitments in 2019 included $21.64 billion in loans, grants, investments, and guarantees from ADB's own resources to support the growth and development plans of its developing members.
Disbursements in 2019—a key indicator of successful project implementation—reached a record $16.47 billion, a 16.1 percent increase from 2018.
ADB's private sector operations in 2019 reached the $3 billion mark for the second consecutive year, reflecting plans to expand private sector investments into new sectors and frontier markets.
Co-financing amounted to $11.86 billion in 2019, with ADB's private sector operations accounting for $6.98 billion of total co-financing.
Moreover, ADB climate financing reached a record high of $6.55 billion in 2019.
The bank met its goal of doubling its annual climate investments from $3 billion in 2014, a year ahead of schedule. This highlighted ADB's strong commitment to climate change action.
Strategy 2030 sets a target for cumulative climate financing of $35 billion by 2024 and $80 billion by 2030.
Responding to Covid-19, however, the bank approved a $20 billion package to finance wide-ranging actions and programs on April 13 to help its developing members address the impacts of the pandemic.
The development bank is also on track to meet its Strategy 2030 target of promoting gender equality in at least 75 percent of its operations.
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 member states including 49 from the region.