Building strong partnerships with diverse institutions.
ADB cannot fight poverty in Asia and the Pacific by itself.
To safeguard development gains from past interventions, respond to present and emerging challenges brought by the COVID-19 crisis, and keep pushing for more growth in the region, ADB continues to build and maintain strong financing partnerships with governments, international multilateral organizations, private sector institutions, and other emerging development partners.
ADB’s financing partnerships can be “sovereign” in nature, i.e., driven by country needs determined by national governments of ADB member countries. They can also be “nonsovereign,” i.e., initiated by private entities, which may also be aligned with government priorities or respond to local concerns, such as microfinance, or regional concerns, such as digital health.
ADB and its financing partners pool financial resources, share in the risks involved, and combine knowledge and technical expertise in planning and implementing a development program or project. ADB offers full or partial administration of development assistance and programs cofinanced with partners.
Financing partnerships are well-established ways of working for development. Donors, multilateral institutions, and development agencies come together to assist developing countries with a variety of projects to improve people’s lives. When partners jointly finance a program or project, they each bring the best they can offer to the deal. Done well, financing partnerships leverage the resources—funding, knowledge, and expertise—of all partners to the greater benefit of the poor.
ADB’s Strategy 2030 aims to eradicate extreme poverty while working for a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. Financing partnerships are working intensely—designing and implementing projects, testing ideas, and sharing knowledge—to achieve the targets of Strategy 2030’s seven operational priorities, while responding to the challenges resulting from the COVID-19 pandemic.
With global economic slowdown due to the COVID-19 pandemic, financing partnerships are even more crucial in helping the region to bounce back while safeguarding the shared progress achieved through the years.
Financing partnerships that support the gender equality agenda have a greater role to play in protecting gender equality gains in the post COVID-19 context, where women are at greater risk of job losses, poverty, and inequalities.
ADB and some of its financing partners are leading the way in mitigating climate change concerns, while helping countries meet their commitments under the Paris Agreement and introducing innovations that can make the marginalized and vulnerable become more resilient.
At the rate Asia is urbanizing, ADB and its financing partners have made crosscutting investments to transform cities into more livable urban centers, including environment-friendly transport, energy-saving water supply infrastructure, and green housing development.
Financing partnerships are keen on fast-tracking agriculture sector development. From global threats like climate change and the COVID-19 pandemic, the need to protect food systems is getting more critical in preventing another food crisis and ending hunger in Asia.
Good governance and strong institutional capacity are the basis for country development. Financing partnerships support initiatives to pursue good governance and strengthen the capacity of public institutions to undertake policy reforms and promote private sector development.
ADB’s financing partnerships cofinance projects designed to increasingly interconnect Asia. Regional cooperation and integration are more critical than ever, particularly in sharing health and medical knowledge and resources to address the ongoing global COVID-19 pandemic.
Partnering with ADB allows donors to participate in the economic and social development of the world’s fastest growing region. With a presence in 49 countries in Asia and the Pacific, ADB’s breadth in operations adds value to programs financed with partners. Founded in 1966, ADB brings over 50 years of accumulated experience in implementing projects across multiple sectors and thematic issues of strategic importance, has a deep understanding of the region and its needs, and nurtures close relationships with its member countries.