Tashkent, Uzbekistan (UzDaily.com) — The Asian Development Bank (ADB) has approved a strategic plan aimed at increasing the volume of its activities by 50% over the next decade. To achieve this goal, the bank plans to leverage its existing capital base, which will allow it to more actively support the development process in Asia-Pacific countries.

According to the Capital Utilization Plan (CUP), ADB’s annual financial commitments will rise from US$24 billion in 2024 to more than US$36 billion by 2034. Additional investments will help the bank’s developing member countries address key challenges facing the region.

ADB President Masatsugu Asakawa emphasized that this ambitious plan takes into account the region’s changing needs and expands the bank’s capacity to make a tangible impact on both improving the quality of life for people and protecting the environment. He stated that by strengthening its financial capacity, the CUP will enable ADB to strategically invest in overcoming regional challenges and enhance its operational efficiency.

The adoption of the CUP marks the next phase in ADB’s development, building on capital management reforms carried out in 2023, which have already led to an increase in the bank’s financial capabilities. The new strategy also builds on last year’s review of corporate priorities, which set ambitious goals in five key areas. In recent years, ADB has significantly expanded its concessional lending programs and increased the funds available in the Asian Development Fund, which remains the primary source of grant support for the region’s most vulnerable countries.

Under the CUP, the bank plans to substantially increase its lending commitments over the next two to three years. These efforts will be accompanied by an expansion of staff and an increase in the volume of technical assistance. ADB’s non-sovereign operations are expected to grow at an accelerated pace: while they currently account for 20% of total commitments, this share is projected to rise to 27% by 2034. At the same time, sovereign operations will continue to grow, and the project portfolio will become more balanced and diversified.

The projections for the next decade indicate a steady increase in ADB’s net income, which the bank plans to reinvest strategically. Part of these funds will be directed towards preparing large-scale infrastructure projects and attracting additional financial resources from international capital markets. Among the new initiatives is the creation of a financing mechanism that will combine financial and non-financial incentives to increase investment volumes, as well as the development of flexible tools to expedite project preparation.

ADB also intends to focus on the development of the private sector, digital transformation, regional cooperation, and public goods. These measures will enable the bank to achieve its corporate goals by 2030, including increasing the share of climate financing to 50% of total commitments. Additionally, by 2030, the bank aims to increase the total volume of private sector financing to US$13 billion, using both its own resources and attracted investments.

The implementation of the CUP will be closely monitored: ADB will track the progress of the plan annually to adapt it in response to the region’s changing needs. Continuing its efforts to eradicate extreme poverty, ADB seeks to create a prosperous, inclusive, sustainable, and resilient economic environment in the Asia-Pacific region.

Founded in 1966, the Asian Development Bank brings together 69 countries, 49 of which are in the Asia-Pacific region.