BAKU, Azerbaijan, April 24. The Asian Development Bank (ADB) committed $24.3 billion from its own resources in 2024, alongside $14.9 billion in cofinancing from partners, to tackle pressing development challenges across Asia and the Pacific, Trend reports.
Published in its Annual Report 2024, ADB’s latest results highlight progress on sustainable, inclusive, and resilient growth in its developing member countries. The bank’s investments covered a wide range of sectors, including energy, transport, education, health, and social protection.
“With our increased financial firepower and a sharper strategic focus, ADB is turning commitment into concrete results,” said ADB President Masato Kanda. He noted the bank’s growing support for affordable infrastructure, job creation, and basic services.
Private sector operations played a growing role, reaching $4.8 billion—an increase of nearly 29% from 2023—supporting over 1 million direct jobs. These investments focused on improving business environments, expanding capital markets, and boosting trade.
Key developments in 2024 included reforms to strengthen ADB’s capital base, enabling a projected 50% expansion in operations over the next decade, and a record $5 billion replenishment of the Asian Development Fund, which supports the region’s poorest and most vulnerable economies.
ADB also ramped up efforts to address climate impacts, food security, and environmental degradation, while helping countries implement fiscal reforms and improve public financial management.