These figures were released in ADB’s Annual Report 2024, which details the bank’s efforts to promote sustainable, inclusive, and resilient growth in the region.
“With our increased financial firepower and a sharper strategic focus, ADB is turning commitment into concrete results,” said ADB President Masato Kanda. “We are financing more affordable and efficient energy and transport systems, supporting a vibrant private sector that creates better-quality jobs, and strengthening basic services in education, health, and social protection.”
Support for private sector
ADB’s $24.3 billion in commitments encompassed loans, grants, equity investments, guarantees, and technical assistance, benefiting both governments and private sector stakeholders across its developing member countries (DMCs).
A key highlight in 2024 was ADB’s growing support for the private sector. It committed $4.8 billion to private sector operations—an increase of 28.5 percent year-on-year—which helped generate over 1 million direct jobs. These efforts strengthened enabling business environments, capital markets, and trade networks, paving the way for more inclusive economic growth.
Evolution
The report also emphasized strategic milestones in ADB’s evolution as a more impactful development institution. These included capital management reforms that will allow the bank to expand its operations by 50 percent over the next decade, a comprehensive update to its corporate strategy, and a record $5 billion replenishment for the Asian Development Fund, which provides grants to the region’s poorest and most vulnerable economies.
Beyond financing
Beyond financial commitments, ADB played a vital role in supporting member countries with knowledge and policy reform. Its interventions helped improve public financial management, enhance budgeting, and mobilize domestic resources—all key to building resilient and self-sustaining economies.
In tackling pressing environmental and food security issues, ADB supported initiatives to develop resilient food systems, mitigate the effects of climate change, and counter biodiversity loss. —Ed: Corrie S. Narisma
