Many private sector, bilateral and multilateral partners and four global funds co-financed 124 sovereign and 41 non-sovereign projects with the Asian Development Bank in 2022, according to its new Partnership Report 2022: Driving Growth, Boosting Resilience.
The Asian Devlopment Bank (ADB) and its partners is helping countries and communities strengthen resilience across Asia and the Pacific. Actions include providing cash transfer support to Sri Lankans suffering through food inflation, helping Mongolia weather economic shocks from rapidly escalating food and fuel prices and enabling Vanuatu to better target its Covid-19 response to poor and marginalised people.
ADB managing director general Woochong Um commented: “Resilience is one of the four pillars of ADB’s Strategy 2030 and is integrated into all aspects of our development work. Our region needs resilient infrastructure, cities and communities. We want the environment and natural resources to be resilient. We want all economies in the region to be resilient. Our partnerships enable significant progress in promoting resilience.”
ADB’s partnerships also strengthened women’s economic resilience. They helped the Bank of Georgia provide financing for women-owned or led small businesses, Indonesian women and other vulnerable groups increase financial inclusion and Indian farmers, especially women farmers, link to markets and agricultural value chains.
Strengthening resilience also involves optimising the use of digital technology. Under ADB’s Trade and Supply Chain Finance Program, the digital standards initiative was designed to drive digitalisation of global trade. In South Asia, ADB and partners are helping water utilities improve their operational efficiency with smart water management technology. Several countries in the region are improving health care and reducing costs by digitising national health information and finance systems.
Co-financing for sovereign projects reached $4.3bn in 2022. About 92% of the co-financing commitments came from bilateral and multilateral partners. The rest was mobilised from global funds, ADB-administered trust funds and philanthropic and private organisations.
Co-financing for non-sovereign operations, comprising private sector projects and technical assistance, transaction advisory services and programmes for trade finance, supply chain finance and microfinance, reached $7.1bn in 2022.
Numerous private sector partners, 14 bilateral partners, six multilateral partners and four global funds co-financed 124 sovereign and 41 non-sovereign projects with ADB in 2022.
