ADB to streamline operations

17 Dec 15

The Asian Development Bank has approved a suite of reforms which it says will bring in a “stronger, better and faster” ADB.

The bank said the measures, which include cutting red tape and streamlining operations, will improve and hasten the delivery of the assistance it provides to member countries as well as enhancing the bank’s own operational efficiency.

“The reforms approved by the board of directors demonstrate the ADB’s commitment to be stronger, better and faster,” said ADB president Takehiko Nakao.

“The reforms will help to reduce the time and resources to prepare and administer loans and technical assistance. The overall gains in savings of procedural and staff time from these reforms will be significant.”

The changes include greater use of procedures to allow the ADB to finance contracts awarded before the loan is signed, greater flexibility in application procedures, and the ability to procure from non-ADB member countries in some circumstances.

Procedures for the ADB to establish trust funds and administer co-financing arrangements will also be simplified, as will board approval procedures.

Business processes for country partnership strategies, loans and technical assistance operations and disbursements will be streamlined and improved, to enhance the quality of the documents and substantially reduce the cost and staff time involved, the ADB said.

The bank said the changes contribute to a core component of its midterm review of strategy 2020. They will put it in a better position to capitalise on the expected increase in ADB lending following the planned merger of Asian Development Fund operations with ordinary capital resources in 2017.

The merger will boost the ADB’s total annual lending by 50%, to as high as $20bn.

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