ADB deploys almost US$40bn for development across Asia and the Pacific in 2024

The Asian Development Bank (ADB) committed US$24.3bn from its own resources in 2024, coupled with US$14.9bn in cofinancing in collaboration with its partners, to help Asia and the Pacific solve a range of complex development challenges.

ADB’s financial and operational results were published last week in its Annual Report 2024. The report summarizes how ADB supported its developing member countries (DMCs) to make progress toward sustainable, inclusive, and resilient development.

“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. Together with our partners, we are building a brighter future for the next generation in Asia and the Pacific.”

The US$24.3bn comprised loans, grants, equity investments, guarantees, and technical assistance provided to governments and the private sector.

To build on the 1 million direct jobs it generated in 2024, ADB committed US$4.8bn through its private sector projects and programs—up 28.5 per cent from 2023. Collaborations with governments, financial institutions, and investors supported enabling business environments, deepened capital markets, and increased trade.

The report documents ADB’s evolution toward becoming a bigger, better, and more effective development bank. Milestones include capital management reforms that will enable ADB to expand its operations by 50 per cent over the next decade, a major update to the institution’s corporate strategy, and a record US$5bn replenishment for the Asian Development Fund, ADB’s largest source of grant financing for operations in its poorest and most vulnerable DMCs.

ADB also deployed a range of financial and knowledge support during the year to create more productive and resilient food production systems, reduce the damaging impacts of extreme weather events, and to reverse environmental degradation and biodiversity loss.

ADB assisted DMCs to implement critical reforms to improve public financial management, address fiscal risks, and promote social and economic development through better domestic resource mobilisation and budgeting.

About ADB
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—49 from the region.

Source: ADB