Asia and the Pacific has made great strides in poverty reduction and economic growth in the last 50 years. However, there are unfinished development agendas. Issues such as poverty and vulnerability, rising inequality, climate change, growing environmental pressures, and large infrastructure deficits remain to be addressed. Emerging trends, such as technological advancements, urbanization, and changing demographics, present opportunities and challenges.
Given the size of Asia and the Pacific, achieving major global commitments—such as the Sustainable Development Goals, the related Financing for Development agenda, the Paris Agreement on climate change, and the Sendai Framework for Disaster Risk Reduction—will depend critically on the success of the region.
Strategy 2030 sets the course for the Asian Development Bank (ADB) to respond effectively to the region’s changing needs. Under Strategy 2030, ADB will sustain its efforts to eradicate extreme poverty and expand its vision to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. ADB’s aspirations are aligned with major global commitments.
ADB will play an important role in supporting the global agenda of infrastructure development as a source of global growth. Infrastructure will remain a key priority to promote social and economic development. ADB will promote quality infrastructure investments that are green, sustainable, resilient, and inclusive. At the same time, it will expand interventions in social sectors, such as education, health, and social protection. ADB will also seek to integrate its expertise across sectors and themes to address more complex development challenges.
As a trusted development partner, ADB will add value to its developing member countries (DMCs) by combining finance, knowledge, and partnerships. ADB will continue to be a reliable financier and catalyzer of finance. As a knowledge provider, it will focus on practical value that fits local conditions, identify lessons, and replicate good practices across the region and beyond. As a convener of partnerships, ADB will promote dialogue and collaboration among diverse partners and stakeholders and seek to maximize the impact of the international financial institutions system as a whole. ADB will also increase its function as a project developer.
The ambitious global development agenda must be tailored to specific local circumstances. ADB will strengthen its country-focused approach using the country partnership strategy as the main platform to define customized support, promote the use of innovative technologies, and deliver integrated solutions by combining expertise across a range of sectors and themes and through a mix of public and private sector operations. ADB will be selective at the country level—building on its comparative advantage, specific country demands, and the potential for value addition within ADB’s capacity and resource envelope.