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Annual Report 2018 2 PRESIDENT’S MESSAGE ASIAN DEVELOPMENT BANK 4 BOARD OF DIRECTORS As our region continues to develop and transform, CONTENTS 6 FINANCIAL HIGHLIGHTS so too must ADB. Our new strategy, Strategy 2030, 2018 ANNUAL REPORT positions ADB well to help the countries of Asia and CHAPTER 1 | STRATEGY 2030 10 Working Together for a Prosperous, Inclusive, Resilient, the Pacific cope with the development challenges and Sustainable Asia and the Pacific and opportunities that lie ahead. Working Together for a Prosperous, Inclusive, Resilient, CHAPTER 2 | REGIONS Takehiko Nakao, ADB President and Sustainable Asia and the Pacific 20 Central and West Asia 24 East Asia 28 Pacific 32 South Asia 36 Southeast Asia CHAPTER 3 | DEVELOPING THE PRIVATE SECTOR 40 Private Sector Operations and the Promotion of Public–Private Partnerships CHAPTER 4 | ORGANIZATIONAL EFFECTIVENESS 48 Delivering Through a Stronger, Better, and Faster ADB 56 APPENDIXES USB CONTENTS SMART READER Annual Report 2018; Financial Report; Read the Annual Report on your Operational Data; Organizational Information; smart device or screen at: ADB Member Fact Sheets www.adb.org/ar2018/digital 2 PRESIDENT’S MESSAGE ASIAN DEVELOPMENT BANK 4 BOARD OF DIRECTORS As our region continues to develop and transform, CONTENTS 6 FINANCIAL HIGHLIGHTS so too must ADB. Our new strategy, Strategy 2030, 2018 ANNUAL REPORT positions ADB well to help the countries of Asia and CHAPTER 1 | STRATEGY 2030 10 Working Together for a Prosperous, Inclusive, Resilient, the Pacific cope with the development challenges and Sustainable Asia and the Pacific and opportunities that lie ahead. Working Together for a Prosperous, Inclusive, Resilient, CHAPTER 2 | REGIONS Takehiko Nakao, ADB President and Sustainable Asia and the Pacific 20 Central and West Asia 24 East Asia 28 Pacific 32 South Asia 36 Southeast Asia CHAPTER 3 | DEVELOPING THE PRIVATE SECTOR 40 Private Sector Operations and the Promotion of Public–Private Partnerships CHAPTER 4 | ORGANIZATIONAL EFFECTIVENESS 48 Delivering Through a Stronger, Better, and Faster ADB 56 APPENDIXES USB CONTENTS SMART READER Annual Report 2018; Financial Report; Read the Annual Report on your Operational Data; Organizational Information; smart device or screen at: ADB Member Fact Sheets www.adb.org/ar2018/digital ACKNOWLEDGMENTS A for ADB Board of Directors Working Group on the Annual Report 2018 Scott Dawson (Chair), Mahbub Ahmed, New Strategy Bobur Khodjaev, Jin Lu, Masashi Tanabe • Publisher Vicky C.L. Tan • Managing Editor (Print and Digital) Asia and the Pacific has made great strides in poverty reduction and economic growth in the last 50 years. But there are unfinished development agendas. Andrew Perrin • Production Manager Ma. Theresa Mercado • Copyediting Paul Dent • Proofreading STRATEGY Anima Slangen, Noren Jose • Art Director Anthony Victoria • Design and Information Graphics Strategy sets the course for ADB to respond to the changing needs of the region and sustain eorts to eradicate extreme poverty. Cleone Baradas, Rocilyn Locsin Laccay • Typesetting Edith Creus, Prince Nicdao • Assistant Editor (Digital) Duncan McLeod • Programming and Design (Digital) Christopher Charleson The Board of Directors Working Group on the Annual Report 2018 would like to thank all ADB departments and Our vision for Asia and the Pacific offices for their significant contributions to this report. Every effort has been made to ensure the accuracy of the data used in this publication. Variations in data in ADB publications often result from different publication dates, although differences may also come from the source and interpretation of data. ADB accepts no responsibility from any consequence of their use. By making any designation of or reference to a particular territory or geographical area, or by using the term PROSPEROUS INCLUSIVE RESILIENT SUSTAINABLE “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. In this publication, “$” refers to United States dollars, unless otherwise stated. ADB recognizes “China” as the People’s Republic of China and “Korea” as the Republic of Korea. ©2019 Asian Development Bank ISSN 0116-1164 (print) ISBN 978-92-9261-558-1 (print), 978-92-9261-559-8 (electronic) Publication Stock No. FLS190058 DOI: http://dx.doi.org/10.22617/FLS190058 Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines [email protected] www.adb.org Subscriptions to ADB’s Annual Report are available to reference libraries and institutions. We add VALUE through: We are guided by three CORE PRINCIPLES: We use DIFFERENTIATED APPROACHES to address diverse client needs in: To subscribe, e-mail [email protected] Using a Promoting the Delivering Fragile and Small island Low-income and Upper Finance Knowledge Partnerships country-focused use of innovative integrated conflict-aected developing lower middle-income middle-income approach technology solutions situations states countries countries Our OPERATIONS focus on: To support our vision we will: EXPAND PRIVATE COVER PHOTO: In Papua New Guinea, the Pacific Private Sector Development Initiative, a regional technical assistance facility SECTOR OPERATIONS cofinanced by ADB and the governments of Australia and New Zealand, is helping women working in subsistence fishing access bank loans and CATALYZE AND equipping them with the skills they need to develop sustainable, formal MOBILIZE FINANCIAL businesses. CREDIT: Eric Sales/ADB. Addressing remaining Accelerating Tackling climate change, Making cities Promoting rural Strengthening Fostering regional RESOURCES poverty and reducing progress in building climate and more livable development and governance and cooperation and inequalities gender equality disaster resilience, and food security institutional capacity integration STRENGTHEN Annual Report 2018 is printed using vegetable oil-based inks on recycled paper. enhancing environmental KNOWLEDGE SERVICES sustainability ASIAN DEVELOPMENT BANK 2018 ANNUAL REPORT Working Together for a Prosperous, Inclusive, Resilient, and Sustainable Asia and the Pacific PRESIDENT’S MESSAGE In presenting pursue tailored approaches to support each member. this year’s Country partnership strategies will continue to be Annual Report, the primary platform for defining ADB’s operational we draw focus in each country. We will strengthen our support STRATEGY attention to the by applying innovative technologies. We will offer 2030 broad context integrated solutions by combining expertise in a wide range of areas from across our institution. These PROVIDES of a rapidly changing Asia solutions will be delivered through an appropriate US WITH and the Pacific mix of public and private sector operations. A CLEAR and the Asian Strategy 2030 provides us with a clear roadmap Development ROADMAP to meet the needs of our DMCs and guide our Bank’s (ADB) operations for the next decade. We set out clear TO MEET response to the evolving development needs corporate targets to significantly increase operations THE NEEDS facing the region. to build climate and disaster resilience, address OF OUR Asia and the Pacific has made great strides gender equality, and mobilize long-term private DMCs AND in poverty reduction and economic growth in financing. GUIDE OUR the last 50 years. Today, the world’s economic 2 Our efforts are now focused on implementing the center of gravity is shifting toward the region, and OPERATIONS strategy. This Annual Report highlights the strategic almost all of our developing member countries transition in progress across all aspects of ADB FOR THE (DMCs) already have, or are advancing to, operations and organization. NEXT middle-income status. At the same time, there DECADE are unfinished development agendas. Issues such In 2018, the demand for ADB assistance continued as poverty and vulnerability, rising inequality, to grow. Our commitments in 2018 reached climate change, growing environmental pressures, $21.58 billion in loans and grants, exceeding our target and large infrastructure deficits remain to be of $19.71 billion and the 2017 total of $19.69 billion. addressed. Emerging trends, such as technological Of the 2018 total, private sector commitments saw advancements, urbanization, and changing year-on-year growth of 37% to about $3.14 billion, the demographics, present opportunities and highest level to date. Our private sector operations challenges. also mobilized cofinancing of $7.17 billion. Including official and commercial cofinancing and technical As our region continues to develop and assistance, ADB’s total commitments last year were transform, so too must ADB. When I visit our $35.82 billion, a 13% increase on 2017. Disbursements DMCs and talk to leaders and ministers, their also improved, rising to $14.19 billion in 2018, an expectations of ADB are high and their demands increase of 24% from 2017. are becoming ever-more sophisticated. That is why, in July 2018, after an extensive consultation We continued to deliver on our climate commitment. process, we adopted a new long-term corporate In 2015, we set a target to double our annual climate strategy, Strategy 2030. financing to $6 billion by 2020. In 2018, we approved $3.6 billion in financing. Using commitments, our new This strategy will guide us in achieving a performance measure, we reached $4.5 billion. We prosperous, inclusive, resilient, and sustainable also scaled up innovative financing to support Pacific Asia and the Pacific, while sustaining efforts to DMCs in building disaster resilience.
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