ADB operations reach $23.6B in 2023

Release time：2024-05-22 10:13:25 Source：Stellar Signals news portal

The Asian Development Bank (ADB)'s financial and operational expenses reached 23.6 billion U.S. dollars from its own resources in 2023, including 9.8 billion dollars for climate action, to help Asia and the Pacific progress on sustainable development, according to a new ADB report released Thursday.

The Annual Report 2023 summarizes how the ADB supported its developing member countries to address the worsening climate crisis and the impacts of conflicts, food insecurity, and increased debt burdens, among other challenges.

The 23.6 billion dollars comprised loans, grants, equity investments, guarantees, and technical assistance provided to governments and the private sector. In addition to its resources, the ADB mobilized an additional 16.4 billion dollars in co-financing through partnerships.

The 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 reducing 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 sustainable development goals. Major capital management reforms introduced in 2023 will bolster the bank's future lending operations by unlocking up to 100 billion dollars in new lending capacity over the next decade.

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