The Asian Development Bank (ADB) has approved a plan to scale up its operations by 50% over the next decade, leveraging its existing capital base to enhance bank’s impact across Asia and the Pacific.
ADB’s Capital Utilization Plan (CUP) outlines a pathway for increasing ADB’s annual financing commitments from $24 billion in 2024 to exceed $36 billion by 2034. This expanded financing will bolster ADB’s developing member countries’ (DMCs) efforts to address critical development priorities in the region, - said in the Bank’s press-release.
“By utilizing our enhanced lending capacity, the CUP enables us to make strategic investments to address complex challenges while raising the quality and effectiveness of our operations across the region,” - said ADB President Masatsugu Asakawa.
Over the next decade, ADB’s net income is expected to grow steadily. The Bank plans to strategically invest part of this income to assist DMCs in developing high-quality, bankable projects and mobilizing sustainable finance through capital markets. New initiatives include a borrowing facility with both financial and non-financial incentives to promote investments in resilience and sustainability, as well as more flexible instruments to enhance project preparation, according to the press-release.
These initiatives include increasing the share of climate finance to 50% of total commitments and reaching total private sector financing of $13 billion, from both ADB's own financing and direct mobilization, for the year 2030.
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