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| Drought in Donk-Lausk region in the Central Highlands region/VNA/VNS Photo |
Hai Noi — The Asian Development Bank (ADB) has allocated a total of USD 23.6 billion from its own funds in 2023 to support sustainable development in the Asia-Pacific region, of which USD 9.8 billion was earmarked for climate action. . ”
These figures are part of the financial and operational performance published in ADB's 2023 Annual Report. This report outlines how ADB has helped developing member countries (DMCs) deal with the effects of conflict as well as the escalating climate crisis. Issues include food insecurity and an increasing debt burden.
“ADB continues to strengthen its role as the Asia-Pacific region's climate bank, achieving record annual climate financing,” said ADB President Masatsugu Asakawa. “Our investments in adaptation and mitigation focused on climate-resilient agriculture, renewable energy and low-carbon transport.”
The $23.6 billion includes loans, grants, equity investments, guarantees, and technical assistance provided to governments and the private sector. To supplement its own resources, ADB mobilized an additional $16.4 billion in cofinancing through strong partnerships.
ADB has invested significantly in building high-quality energy, transportation, and other infrastructure essential for sustainable development. We further strengthened the region's human capital by increasing support for education and health.
Addressing gender inequality remained at the core of the Bank's efforts in 2023, as nearly all operations actively worked to reduce existing disparities. This includes providing support to address the disproportionate impact of climate change on different genders.
This report describes how ADB is evolving to help accelerate the region's progress towards the Sustainable Development Goals. Major capital management reforms introduced in 2023 will unlock up to $100 billion in new financing capacity over the next 10 years, strengthening the bank's future lending operations. ADB also began rolling out a new operating model in 2023, a generational shift to improve the way the bank serves its customers.
“Our new operating model has enabled ADB to make the important changes needed to provide better, faster and more tailored support to DMCs,” Asakawa said. said.
During his first official visit to Vietnam in March this year, Asakawa reaffirmed ADB's commitment to provide $3 billion in aid to Vietnam between 2024 and 2026. Additionally, ADB has committed to mobilize $2.1 billion under the government's resource mobilization plan to support the Vietnam Just Energy Transition Partnership.
ADB is committed to a prosperous, inclusive, resilient, and sustainable Asia-Pacific region while continuing its efforts to eradicate extreme poverty. Founded in 1966, it has 68 members, 49 of whom are from within the region. VNS
