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ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Ashok Lavasa

Mr. Ashok Lavasa is the Vice-President for Private Sector Operations and Public-Private Partnerships of the Asian Development Bank (ADB). He assumed the position in September 2020.

Mr. Ashok Lavasa is responsible for ADB’s Private Sector Operations as well as Public-Private Partnerships.

21 November 2022 ADB calls for more private sector-led development solutions

VP Ashok Lavasa on 21 November 2022 called for greater collaboration between ADB and its private sector clients to ensure Asia and the Pacific reaches its climate finance goals by 2030. More than 30 representatives from private sector companies in the Philippines joined the first client reception hosted by Private Sector Operations Department Director General Suzanne Gaboury in Manila. They learned how ADB and the country's private sector can work together in delivering private sector-led development solutions. Attendees included Aboitiz Group, AC Energy, ACEN Renewables, Alternergy, BDO, BPI, Buskowitz Energy, Cantilan Bank, CARD, Energy Development Corporation, Fruitas, Grow Capital Partners, Ignis Energia, Investment & Capital Corporation of the Philippines, MetPower Venture Capital Partners, SCB Philippines, and Vena Energy.

13 November 2022 VP Lavasa speaks to ASEAN leaders in Cambodia

At the 2nd ASEAN Global Dialogue in Phnom Penh, VP Ashok Lavasa on 13 November 2022 underscored that while the ASEAN region is recovering well from the pandemic and other geopolitical shocks, it is facing many difficulties including health threats, the destruction of human capital as well as an increase in carbon emissions and a drop in biodiversity. He touched on ADB initiatives in the ASEAN region to build strong health systems, invest in human capital development and education, and help in climate change mitigation and adaptation. The dialogue was chaired by Cambodian Prime Minister Akka Moha Sena Padei Techo Hun Sen and attended by ASEAN leaders, leaders from ASEAN partner countries, and representatives of international organizations.

11 November 2022 ADB signs social loan package to expand private sector financing for women-owned SMEs in Viet Nam

ADB and Vietnam Prosperity Joint Stock Commercial Bank on 11 November 2022 signed a $500 million loan package to expand access to finance for women-owned small and medium-sized enterprises and social loan projects in Viet Nam. The financing comprises a $100 million loan from ADB’s ordinary capital resources OCR, and $100 million each from the Australia and New Zealand Banking Group, Sumitomo Mitsui Banking Corporation (SMBC), Maybank Securities, and JICA (cofinanced with SMBC). VP Ashok Lavasa spoke at the event, with Viet Nam Resident Mission Country Director Andrew Jeffries, Private Sector Financial Institutions Division Director Christine Engstrom, and Private Sector Operations Department Advisor and Guarantees and Syndication Unit Head Bart Raemaekers in attendance. Read the news release

04 November 2022 ADB loan to decarbonize MSMEs in the PRC

The Bank of Huzhou and ADB on 4 November 2022 signed a $50 million private sector loan to support green financing for micro, small, and medium-sized enterprises (MSMEs) in the People's Republic of China (PRC). In his opening remarks, VP Ashok Lavasa emphasized the importance of mobilizing private capital to help MSMEs to reduce their carbon footprint, and ADB East Asia Department Director General Teresa Kho highlighted the key role the PRC plays in contributing to carbon neutrality and addressing the challenges of climate change. From ADB, Private Sector Operations Department Deputy Director General Christopher Thieme, Private Sector Financial Institutions Director Christine Engstrom, Public Management, Financial Sector, and Regional Cooperation Division Director Emma Fan, and PRC Resident Mission Deputy Country Director Hao Zhang attended the signing ceremony. Read the news release.

20 October 2022 VP Lavasa speaks on innovative energy transition financing models at Global Infrastructure Initiative Summit

VP Ashok Lavasa joined the plenary session on Innovating Financing Models to Realize Net-Zero Portfolios as part of the 2022 Global Infrastructure Initiative Summit organized by McKinsey & Company on 20 October 2022 in Tokyo. He discussed the use of innovative financing instruments such as blended finance to deliver ADB’s Energy Transition Mechanism initiative and the role of financial institutions in energy transition and scaling up clean energy investments. VP Lavasa participated in a site visit to the Advanced Hydrogen Energy Chain Association for Technology Development hydrogen project in Tokyo.

Mr. Ashok Lavasa is the Vice President for Private Sector Operations and Public Private Partnerships (VPPP) with the Asian Development Bank.

Prior to joining ADB in September 2020, Mr. Lavasa was an Election Commissioner in India from January 2018 to August 2020, a constitutional position appointed by the President of India.

Mr. Lavasa served for nearly four decades with various government agencies in India including as Union Finance Secretary, Secretary Environment & Climate Change and Secretary Civil Aviation. He also served as Additional Secretary and Special Secretary for Power. As a senior member of the Indian Administrative Service, Mr. Lavasa was associated with a broad array of public policy and program implementation initiatives covering the finance, power, environment and climate change, civil aviation, infrastructure, and tourism sectors. He led the official Indian delegation for climate change negotiations for the Paris Agreement at COP21.

He is the author of a book ‘An Ordinary Life: Portrait of an Indian Generation’ published in July 2021 by Harper Collins. Earlier, he has authored a book titled An Uncivil Servant (Rupa: 2006) and has written several book chapters and academic papers covering climate change, economic policy, and energy. He completed M. Phil. from Madras University (India), MBA from Southern Cross University (Australia) and MA (English) from Delhi University (India).

Read the news release >>