ADB Support for Climate Change and Disaster Risk Management
From 2011 to 2018 ADB approved over $29 billion in climate financing. ADB's own resources provided $25.3 billion while external resources contributed almost $3.9 billion. Climate finance totaling $111 billion was mobilized for projects funded by the world’s six largest multilateral development banks (MDBs) in 2018. ADB is committing $80 billion from 2019 to 2030 to combat climate change.
ADB supports green growth in Asia and the Pacific through financing and innovative technologies. Through mechanisms such as the Climate Investment Funds, multilateral development banks have mobilized $8 billion for climate action in developing countries, with $1.4 billion earmarked for Asia and the Pacific for ADB. ADB is an accredited entity of the Green Climate Fund and is accessing resources from the fund to support climate change actions in the Asia Pacific region.
ADB seeks to help its member countries become more resilient to the effects of disasters, while it continues to provide assistance to support post-disaster recovery needs. Between August 1987 and December 2018, ADB approved $10.3 billion for 222 disaster risk management projects that directly reduced disaster risks, strengthened financial preparedness, and supported post-disaster recovery; while a further 442 projects incorporated measures to strengthen disaster resilience in their design. These have included flood control and integrated water resource management projects, as well as programs supporting financial preparedness for disasters in ADB’s developing member countries. ADB’s quick response was also seen in the aftermath of disasters such as the Sulawesi earthquake and tsunami in Indonesia, a tropical cyclone in Tonga, an earthquake in Papua New Guinea, and increased volcanic activity of Mt. Manaro in Vanuatu, which all happened in 2018.