Partners of the Asian Development Bank (ADB) have demonstrated their commitment to supporting the resilience of developing member countries in Asia and the Pacific by pledging $11.4 billion to co-finance projects in 2022. This significant investment was revealed in the Partnership Report 2022: Driving Growth, Boosting Resilience, which highlights the collaborative efforts between ADB and its partners in aiding member countries in their recovery from the COVID-19 pandemic and addressing various challenges such as climate change, the Russian invasion of Ukraine, and food and energy crises.
The report showcases the diverse range of contributions made by 14 bilateral partners, 6 multilateral partners, 4 global funds, as well as numerous private sector and other partners. Through these partnerships, ADB facilitated projects that empowered developing member countries to enhance their trade and support small businesses, provide essential cash assistance to combat rising food inflation, and promote the adoption of technology and digital innovations, among other initiatives. The combined financial support from these partners amounted to $11.4 billion, enabling tangible progress towards building resilience in the region.
“Resilience is one of the core pillars of ADB’s Strategy 2030 and is ingrained in every aspect of our development work. Our partnerships play a vital role in driving advancements in promoting resilience,” emphasized Woochong Um, ADB Managing Director General. The collaboration between ADB and its partners has been instrumental in advancing resilience-focused initiatives and achieving substantial outcomes.
The Partnership Report for 2022 features an array of compelling stories and videos that highlight the impact of co-financed projects on the ground. It also provides insightful profiles of the financing partners and their respective contributions, shedding light on the breadth and significance of their involvement. Additionally, the report offers updates on ADB-managed trust funds, underscoring the effective utilization of resources and their alignment with ADB’s operational priorities. By leveraging these financing partnerships, ADB is able to amplify the impact of its operations, further strengthening its ability to drive growth and bolster resilience in the region.
The report serves as a testament to the importance of collaboration and collective action in addressing the pressing challenges faced by developing member countries. The contributions of ADB’s partners, both financial and non-financial, have played a pivotal role in facilitating sustainable development and promoting resilience across Asia and the Pacific. As the region continues to grapple with various socio-economic and environmental issues, these partnerships will remain crucial in driving positive change and fostering a more resilient and prosperous future for all.
