The Asian Development Bank (ADB) committed USD 23.6 billion from its resources in 2023, including USD 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 in ADB\u2019s Annual Report 2023. The report summarises how ADB supported its developing member countries (DMCs) to address the worsening climate crisis as well as the impacts of conflicts, food insecurity, and increased debt burdens, among other challenges.<\/p>\n
\u201cADB continued to step up as the climate bank for Asia and the Pacific, reaching our highest-ever annual financing for climate action,\u201d said ADB President Masatsugu Asakawa. \u201cOur investments in adaptation and mitigation had a strong focus on climate-resilient agriculture, renewable energy, and low-carbon transport.\u201d The $23.6 billion comprised loans, grants, equity investments, guarantees, and technical assistance provided to governments and the private sector. Supplementing its resources, ADB mobilized an additional $16.4 billion in co-financing through its strong partnerships.<\/p>\n
ADB invested heavily in building high-quality energy, transport, and other infrastructure essential for sustainable development. It further strengthened the region\u2019s human capital through increased support for education and health. Addressing gender inequality continued to be a cornerstone of the bank\u2019s 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\u2019s progress toward the Sustainable Development Goals.<\/p>\n
Major capital management reforms introduced in 2023 will bolster the bank\u2019s future lending operations by unlocking up to $100 billion in new lending capacity over the next decade. ADB also began rolling out its new operating model in 2023, a generational transformation to improve the way the bank serves its clients. \u201cOur new operating model has enabled ADB to make the key shifts needed to deliver better, faster, and more tailored support to our DMCs,\u201d said Asakawa.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Asian Development Bank (ADB) committed USD 23.6 billion from its resources in 2023, including USD 9.8 billion for climate\u2026<\/p>\n","protected":false},"author":28,"featured_media":40999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[186],"tags":[4573,8257,539,4935,13423,13086,13420,10376,13419,13426,13421,544,13425,13427,13422,381,13424,4570,4641,7172,6835,13428],"class_list":["post-40998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-asian-development-bank-adb","tag-challenges","tag-climate-change","tag-climate-financing","tag-climate-resilient-agriculture","tag-conflicts","tag-developing-world","tag-economies","tag-effects","tag-equity-investments","tag-food-insecurity","tag-global-south","tag-grants","tag-guarantees","tag-increased-debt-burdens","tag-loans","tag-low-carbon-transport","tag-mitigation","tag-renewable-energy","tag-resources","tag-sustainability","tag-technical-assistance"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/40998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=40998"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/40998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/40999"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=40998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=40998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=40998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}