Asian Development Bank 2016

By Asian Development Bank

December 28^th, 2016

ADB kicked off its 50th anniversary celebrations

Conceived in the 1960s, the ADB was established to foster economic growth and cooperation across Asia and the Pacific. In 5 decades, ADB has mobilized more than $250 billion in infrastructure, research, and knowledge sharing, thus creating opportunities and prosperity, which contributed to the region's historic global rise.

The Seoul-Inchon Expressway, Korea's first expressway was financed by ADB in 1968.

The Shanghai Nanpu Bridge was funded by ADB in 1991.

The Power Transmission and Distribution Project in Afghanistan was funded by ADB in 2005.

President Takehiko Nakao speaks ADB's 50th Anniversary and Appreciation event held on 14 December in Manila, Philippines.

Donors Replenish ADB’s Grant Fund for Lower-Income Countries

During ADB's 49th Annual Meeting in Frankfurt, Germany, 32 donors agreed to the 11th replenishment of the Asian Development Fund (ADF) for the 4-year period from 2017 to 2020. This will provide $3.3 billion of new resources to ADF, the ADB's grant window, and $0.5 billion to the Technical Assistance Special Fund. ADF finances grant operations in its poorest and most debt-distressed member countries.

ADB will fully implement the merger of ADF with its ordinary capital resources from 1 January 2017.

The Second Chittagong Hill Tracts Rural Development Project in Bangladesh is funded through the Asian Development Fund (ADF).

Cambodia's Second Rural Water Supply and Sanitation Sector Project is funded through the Asian Development Fund (ADF).

Going Renewable in the Pacific

In 2016, ADB approved financing to support the Government of Solomon Islands and Solomon Power to convert electricity networks in five provinces almost entirely to solar power.

The Solar Power Development Project will construct grid-connected solar plants in five provinces: Kirakira, Lata, Malu’u, Munda, and Tulagi. The project will be funded by a $2.24 million grant from Asian Development Fund (ADF), $6.2 million grant from the Strategic Climate Fund (SCF), and $6.76 million from the government.

“Reliance on diesel generation has resulted in a high cost of electricity in the Solomon Islands, which is constraining economic growth, particularly in the commercial and tourism sectors,” said Anthony Maxwell, Principal Energy Specialist at ADB’s Pacific Department

Women attending a sewing course in the outskirts of Honiara, Solomon Islands.

ADB Approves First Cofinancing with AIIB for a Pakistan Road Project

ADB approved a $100 million loan for a highway project in Pakistan with the Asian Infrastructure Investment Bank (AIIB). This project will fund the remaining 64-kilometer (km) long four-lane section of the M-4 National Motorway connecting Shorkot and Khanewal in Punjab province. The project constitutes a key part of a 1,800 km Central Asia Regional Economic Cooperation (CAREC) transport corridor linking the port city of Karachi in the south, to major primary production and population centers including Lahore, Faisalabad, Islamabad and Peshawar, and on to Torkham on the northern border with Afghanistan.

ADB and AIIB have been preparing projects for cofinancing since last year. A memorandum of understanding for collaboration was signed by Mr. Nakao and AIIB President Liqun Jin at the time of ADB’s Annual Meeting in Frankfurt, Germany in early May.

“This is a historic milestone for ADB and AIIB as we jointly aim to meet the pressing infrastructure needs in Asia and the Pacific region,” said ADB President Takehiko Nakao.

Construction at km 6+500 of the M-4 National Motorway.

The Port of Karachi is the terminus of a 1,800 km Central Asia Regional Economic Cooperation transport corridor.

Asian Water Development Outlook 2016 released at World Water Week in Stockholm

Water security in Asia and Pacific has progressed overall in the past 5 years, but major challenges remain, including overexploited groundwater, demand from rising populations, and climate variability, according to a new report from the ADB.

“Asia and Pacific remains the world’s most vulnerable region to water insecurity and cannot sustain its recent economic growth without addressing this issue,” said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono.

More children in the future will benefit if countries invest in water infrastructure.

A woman drinking water from an open pipe in Dhaka, Bangladesh.

Water is very scarce during the dry season in Myanmar.

Independent Evaluation Awards ADB’s Most Successful Development Projects

Three development projects that best showcased ADB's contribution to Asia and the Pacific were recognized in 2016.

The winners went to projects pioneering in solar technology in Thailand, ensuring access to quality education for the poor in Mongolia during the financial crisis, and strengthening agriculture science and technology in Viet Nam.

The three were chosen from 80 projects reviewed by Independent Evaluation in 2015. Independent Evaluation, an oversight body within ADB that assesses the organization’s effectiveness, has held the Most Successful Project Awards since 2015.

The 55-megawatt Power Project in Lopburi, Thailand.

A $17 million ADB grant supported Mongolia's efforts to sustain education access during the global financial crisis of 2008–2009.

Researchers in Viet Nam worked with poor farmers and extension workers to improve traditional varieties and develop them into new products.

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