The Asian
Development Bank (ADB) approved $21.57 billion in financing operations
including cofinancing last year, according to ADB’s 2012 annual report,
released ahead of its 46th annual meeting of the Board of Governors
to be held on May 2–5 in Delhi, India.
Poverty reduction in
Asia remains ‘an unfinished agenda’ despite the region’s strong record of
economic growth, the report notes.
In 2012, operations
were concentrated in five core areas: infrastructure, environment, regional
cooperation and integration, finance sector development, and education. ADB
continued to focus on its three key development agendas of inclusive growth,
environmentally sustainable growth, and regional integration.
A special focus on regional integration highlights ADB’s work to forge
closer links between countries across the region, including the ASEAN
Infrastructure Fund; a new five-year strategy for the Central Asia Regional
Economic Cooperation (CAREC) program; cross-border partnerships between the
People’s Republic of China (PRC) and Mongolia and PRC and Viet Nam; accelerated
cooperation in South Asia; and a new generation of planned projects for the
second decade of cooperation in the Greater Mekong Subregion.
Other notable achievements in 2012 include: $825 million in funding for
India’s power transmission systems; record replenishment of Asian Development
Fund of $12.4 billion to help Asia’s poorest; the first-ever loans for road
network upgrades in Timor-Leste; a $625 million equity investment in the
innovative Philippines Infrastructure Fund; a new public-private partnership
plan; a new Interim Country Partnership Strategy for Myanmar; and ADB’s first Supply
Chain Finance Programme to help the region’s small businesses access capital to
help them grow.
ADB also continued to
improve operational efficiency and development effectiveness in 201.
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