YOKOHAMA, JAPAN (4 May 2017) — The Asian Development Bank’s (ADB) private sector operations approved in 2016 will provide key support for job creation, access to finance, and business opportunities across ADB member countries, according to ADB Private Sector Operations Department’s (PSOD) Development Effectiveness Report 2016.

The report was released in Yokohama, Japan during an event held at the 50th Annual Meeting of ADB's Board of Governors.

Over the last year, ADB approved $2.5 billion in new financing to support private sector operations in the region, while mobilizing $5.8 billion in direct value-added cofinancing. The combined $8.3 billion for 2016 was 15% higher than in 2015, a new record.

“The private sector has a critical role in helping Asia and the Pacific achieve a more sustainable and inclusive future,” said Diwakar Gupta, ADB Vice-President for Private Sector and Cofinancing Operations. “Our 2016 private sector operations are a testament to ADB’s commitment to scale up cooperation between the region’s public and private sectors, and to ensure that our investments provide positive results on the ground.”

ADB’s private sector operations are focused on assisting member countries achieve the Sustainable Development Goals as well as the targets laid out in the Paris Agreement on climate change.

Private sector operations approved in 2016 will contribute over the course of the projects’ lifespans up to $10.2 billion in taxes and royalties to support members’ abilities to invest in their economies. An additional $3.3 billion worth of goods and services are expected to be procured from local firms, stimulating local economies.

Projects supporting financial services are expected to increase access to banking services to over 23 million individuals as well as micro, small and medium-sized enterprises. Approved projects will help over 410,000 farming households, while infrastructure-focused investments will help generate enough energy to serve 450,000 households in the region and treat 750 million cubic meters of wastewater per year. ADB’s 2016 private sector operations will help reduce carbon dioxide emissions by 2.6 million tons per year.

The report notes that 42% of overall approvals last year were in low and lower-middle-income countries, while 46% contributed to ADB’s climate change mitigation and adaptation efforts, in both cases well above our targets. Over half of the approved transactions contain gender-specific elements while almost a third support inclusive business.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.

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