ADB approves long-term corporate strategy

MANILA: The Asian Development Bank (ADB) has approved a new long-term corporate strategy, dubbed Strategy 2030 that sets out the institution’s broad vision and strategic response to the evolving needs of Asia and the Pacific.

Under Strategy 2030, ADB President Takehiko Nakao said the bank “will combine finance, knowledge, and partnerships to sustain our efforts to eradicate extreme poverty and expand our vision towards a prosperous, inclusive, resilient, and sustainable region”.

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The Manila-based bank said it will focus on seven operational priorities, including; addressing remaining poverty and reducing inequalities, accelerating progress in gender equality, tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability, making cities more liveable, promoting rural development and food security, strengthening governance and institutional capacity, and fostering regional cooperation and integration.

“ADB will strengthen its country-focused approach, promote the use of innovative technologies, and deliver integrated interventions that combine expertise across a range of sectors and themes and through a mix of public and private sector operations,” the bank said.

Across these country groups, ADB said it will also prioritise support for lagging areas and pockets of poverty and fragility. “Infrastructure investments – particularly those that are green, sustainable, inclusive, and resilient – will remain a key priority. At the same time, ADB will expand operations in social sectors, such as education, health, and social protection.”

Published in The Express Tribune, July 27th, 2018.

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