ADB Sustains Progress on Strategic Priorities, Despite Headwinds and Compounding Crises

MANILA — The Asian Development Bank (ADB) achieved good progress on strategic priorities in 2022 in the face of significant headwinds and compounding global crises. Notable progress included increasing the share of operations supporting gender equality and climate change mitigation and adaptation; improving the bank’s nonsovereign cofinacing ratio; and doubling investment in food security since 2021, according to its 2022 Development Effectiveness Review (DEfR).

The 2022 DEfR is the 16th edition of the annual flagship report on ADB’s performance in achieving its corporate strategic priorities. Focusing on operations financed by ADB, the report assesses ADB’s development effectiveness, highlights actions ADB has taken to improve, and identifies areas where performance needs to be strengthened.

The review notes the integration of gender equality elements into project design increased for a seventh consecutive year. ADB is working to deepen its gender agenda to assist its developing member countries (DMCs) in addressing underlying gender-discriminatory social norms and deep-rooted institutional gender inequalities.

ADB and its DMCs refocused efforts to address climate change as the COVID-19 pandemic was brought under control. Performance improved in helping clients integrate mitigation and adaptation elements into projects. In 2022, 83% of ADB operations supported climate change adaptation or mitigation, up from 60% in 2021.

The average nonsovereign long-term cofinancing ratio in 2020–2022 rose to 206%, surpassing the 2024 target of 200%. ADB continues to screen projects at an early stage for mobilization opportunities. In 2022, ADB committed nearly $3.7 billion to support food security operations, double 2021’s volume. ADB aims to help strengthen food systems against climate change impacts and biodiversity loss for long-term improvements in food security.

The review notes that ADB is taking action to enhance project readiness, implement monitoring, build capacity of ADB staff and DMC clients, and strengthen partnerships with other development institutions.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.