ADB’s 2030 vision focuses on resilience and sustainability

26 Jul 18

The Asian Development Bank has set out its long-term vision to bolster inclusive and sustainable growth and reduce inequalities across the region.

The aspirations contained in the Strategy 2030 are aligned with the Sustainable Development Goals, the Paris Agreement and the Sendai Framework for Disaster Risk Reduction.

ADB president Takehiko Nakao said: “Asia and the Pacific has made great progress over the last half century in poverty reduction and economic growth, but there are unfinished development agendas.

“Under Strategy 2030, we will combine finance, knowledge, and partnerships to sustain our efforts to eradicate extreme poverty and expand our vision towards a prosperous, inclusive, resilient and sustainable region.”

The bank will strengthen its country-focused approach, promote innovative technologies and combine expertise across a range of sectors and themes to tailor the development agenda to specific local circumstances.

Infrastructure investment, particularly those that are green, sustainable and resilient, will remain a key priority under the new strategy. But the bank will also expand its operations in education, health and social protection, it said.

Under the plan, the ADVB will continue to help finance and catalyse finance for development in Asia and the Pacific.

Nakao said: “A key measure of our success will be the volume and quality of additional resources we mobilise on top of our own financing.”

The is targeting a substantial increase in long-term co-financing by 2030, with every $1 in financing to be matched by $2.50 by the private sector.

It also pledged to expand its private sector operations under the plan.

Nakao said: “We will expand our private sector operations in new and frontier markets, such as fragile and conflict-affected situations and small island developing states.

“We also support more public-private partnerships.”

Additionally, the bank’s support will focus on seven operational priorities: addressing poverty and inequality, gender equality, tackling climate change, making cities more liveable, promoting rural development and food security, strengthening governance and institutional capacity and fostering regional cooperation.

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