ADB Support for Climate Change

On 13th October 2021 ADB announced that it is raising its ambition on the provision of climate financing to its developing member countries, seeking to commit up to $100 billion of its own funds for climate finance in 2019-2030. Read more.

In Mongolia because of the coldness, there’s a phenomenon that we’ve seen twice in the last ten years. It’s called “dzud” where you have a drought in the summer and an extremely cold winter.

From 2011 to 2020 ADB approved about $41.6 billion in climate financing. ADB's own resources provided $36.2 billion while external resources contributed almost $5.4 billion. 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 billions for climate action in developing countries. 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 triggered by natural hazards, while it continues to provide assistance to support post-disaster recovery needs. Between August 1987 and December 2020, ADB approved $11.8 billion for 256 disaster risk management projects that directly reduced disaster risks, strengthened financial preparedness, and supported post-disaster recovery; while a further 657 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.