ADB prioritizes speed of implementation, climate resilience in project funding

Speed and efficiency of implementation and climate resilience will be the top priorities in the delivery of projects under the new long-term strategy of the Asian Development Bank (ADB).

The Manila-based multilateral bank recently held the Forum for Successful Project Design and Implementation: Implementing Strategy 2030 on the Ground.

This year’s forum brings together more than 100 representatives from 37 ADB member countries.

During the forum, ADB president Takehiko Nakao highlighted six areas in which ADB is collaborating with executing and implementing agencies to deliver successful projects.

On top of the priority list is ensuring speed and efficiency in project delivery, supported by recent procurement reforms and new mechanisms for project readiness.

Another priority is incorporating climate change mitigation and adaptation, disaster risk, and environmental considerations.

ADB and partner agencies must also always consider ways to include gender elements into projects and programs.

Innovation and the use of advanced technologies must likewise be promoted to address complex problems.

Financial management must also be strengthened to ensure accountability and financial sustainability.

Sixth is aiming to increase the use of country systems in procurement, and environmental and social safeguards.

ADB begins the implementation of Strategy 2030 this year, setting the future direction for the bank’s efforts to respond to the region’s changing needs.

The bank is expected to commit $61.8 billion across 428 sovereign and nonsovereign projects over the next three years.

Infrastructure investments—particularly those that are green, sustainable, inclusive, and resilient— would remain a key priority.

At the same time, ADB is expanding operations in social sectors, such as education, health and social protection.