Transcript

I’m excited to share with you ADB’s Annual Partnership Report. 

Despite many years of progress, Asia and the Pacific face tremendous development challenges. Poverty in all its dimensions, high debt levels, negative impacts from local and global conflicts, and natural disasters. These remain major obstacles.  

Hanging over them is the defining challenge of our time–climate change. ADB’s developing member countries are among the most vulnerable to climate change. In fact, for the Pacific   region, climate change is an existential threat.  At the same time, the reduction of greenhouse gas emissions in our developing member countries is essential if the world is to achieve the goals set out in the Paris Agreement.

As the region’s climate bank, ADB is at the forefront of helping countries navigate these challenges and plot a sustainable path for their development.

But we cannot do it alone.

Strong partnerships with donors, fellow multilaterals, the private sector, and other development actors are vital for ADB to deliver the necessary support for our developing member countries. Only by combining our financial resources, knowledge, and experiences can we be the partners that our developing members need.

In 2023, ADB channeled 16.4 billion dollars in cofinancing for our developing member countries, alongside ADB’s own commitments of 23.6 billion dollars. This is a 44 percent increase in cofinancing compared to the previous year. In 40% of our projects, we mobilized additional funds from a diverse source, consisting of 15 bilateral and 7 multilateral partners, 5 global funds, 29 trust funds, and a host of private sector entities.

The report also illustrates examples of impactful partnerships. To mention a few:

• ADB is promoting renewable energy by partnering with the private sector to deliver the first cross-border wind power plant in Asia, the largest in Southeast Asia, and the first in Lao PDR.
• We are promoting solar power not just by directly supporting solar projects but also by developing private sector-funded project pipelines.
• We are integrating climate adaptation and mitigation into major transportation projects across the region; for example, on inter-island shipping in Vanuatu.
• We are helping deliver quality education to children with disabilities in Mongolia.
• We are empowering women by fostering a gender-inclusive work environment in Georgia and supporting women-owned or women-led businesses in Indonesia and Sri Lanka.

I urge you to explore the report and be inspired by its partnership stories and insights into how ADB, working hand in hand with partners, has been able to accelerate climate action and sustainable development in the Asia and Pacific region.

Let me close by thanking our development partners and developing member countries.

We are stronger together.