Year: 2017
Type: report
Abstract: marks the 50th anniversary of the Asian Development Bank (ADB).Since introducing the option of financing projects without sovereign guarantee in the 1980s, ADB has approved $23.9 billion in private sector operations.A special chapter in this report retraces ADB's experience with nonsovereign operations and how ADB's work with the private sector evolved.2016 was the first full year the Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change were in effect.ADB's Private Sector Operations Department (PSOD) remains firmly committed to working with the private sector in Asia and the Pacific toward reaching these goals.PSOD's work has mainly focused on two SDGs, affordable clean energy and promoting inclusive economic growth by expanding access to financial services.In doing so, private sector operations also contribute to full and productive employment.In addition to this, PSOD continues to ramp up its investment in agribusinesses, supporting food security and improved nutrition while also improving rural livelihoods.The SDGs and the Paris Agreement are interlinked with ADB's strategic priorities.In 2016, PSOD continued to strengthen alignment of its operations with these priorities compared to previous years.The share of projects in frontier economies increased, exceeding the 40% target for the second consecutive year.Nearly half of PSOD's approvals in 2016 addressed climate change, almost double the target of 25%.The proportion of projects with gender elements and the number of inclusive business projects also grew for the third consecutive year.ADB's approvals of own account financing for nonsovereign operations reached $2.5 billion, nearly matching the record approvals of 2015.At the same time, the total amount of financing made available, including financing mobilized from third parties, grew by 15% to $8.3 billion.PSOD is in the process of finalizing a new operational framework for 2017-2020 to further strengthen its ability to support ADB's development and growth targets.The framework will take into account operational lessons as well as findings by ADB's Independent Evaluation Department to ensure that PSOD's future projects will balance development impact with operational and financial sustainability.
DOI: 10.22617/tcs178775-2
Author: Asian Development Bank
Language: English
Subfield: Development
Field: Social Sciences
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W4232618491