ADB is 50! | Asian Development Bank

ADB is 50!

Video | 13 March 2017

A look at what ADB has achieved over the past half century and how it is changing to better meet development needs as Asia and the Pacific matures.

Transcript

The Asian Development Bank is 50 years old.

The Asia and the Pacific that gave birth to the bank in the 1960s has changed beyond recognition. From a primarily agrarian, poor region; today we are part of a dynamic, confident, and optimistic continent.

A continent driven by dramatic yet sustained growth.

We are honored to have been part of the region's incredible journey - from poverty to wider prosperity. Proud that many countries have made successful economic and social transitions. And pleased that Asia today is not only far richer, but also more peaceful than at any time in its recent history.

A trusted development partner working closely with governments, the private sector, and civil society. The bank's success is a reflection of the constant support from our members.

SOT: Takehiko Nakao
President, Asian Development Bank
"In these 50 years, Asia has made a tremendous progress in terms of growth and poverty reduction. ADB is very proud to be part of that progress through our lending, through our grant operations, knowledge work, and policy dialogues. Through that, I believe, ADB has contributed to promoting a feeling of cooperation and also friendship."

From 31 members in 1966 to 67 today. From an initial capitalization of $1.1 billion to $147 billion today. We celebrate our role in helping those we work with create a level playing field, promoting equality so everyone benefits from economic growth.

A unique role in building infrastructure that not only impacts on poverty, but also promotes connectivity between Asian and Pacific nations. ADB is recognized for its bridges, roads, and other infrastructure we have supported over the past 50 years.

But the supply chains, trade ties, and regional dialogue we have fostered and grown over the same period are of equal significance in Asia's remarkable journey.

While we look back for a moment on what ADB has achieved, to make this truly the Asian century we must look forward and readily embrace change as the region matures.

Ongoing reforms are making ADB an even more effective development partner. ADB has almost triplied its equity base from about $17.5 billion to about $49 billion, allowing us to boost assistance by nearly 50% by 2020.

And ADB is doubling its annual climate financing, helping to protect regions where worsening weather threatens lives and livelihoods.

We have undoubtedly come very far, but ADB's work must continue. With 1.2 billion Asians still living on less than $3.10/day, there is much still to achieve.

Asia and the Pacific need at least $1.7 trillion per year for at least the next decade if the dream we share of a region free of poverty is to become reality.

ADB remains committed to building a vibrant and sustainable region. So, in even stronger partnership with our members, let us move forward together.