ADB investment to Asia, Pacific up by 10% to $43B

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Manila-based lender Asian Development Bank (ADB) said that they increased their support for sustainable projects within Asia and the Pacific by 10 percent in years 2011 and 2012 that helped in “expanding economic opportunities” in the region.

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In a sustainability report released before Christmas, the ADB said that the 10-percent increase totaled to $43-billion support—through their Strategy 2020—for projects focusing on sustainable, inclusive and environmental growths in the region.

“Strategy 2020, our long-term strategic framework, recognizes the essential role that environmental sustainability plays in poverty reduction and inclusive growth, and the ADB sustainability report for 2011 and 2012 shows we are making headway on many fronts,” said Nessim Ahmad, ADB director for Environment and Safeguards.

In a statement, ADB said that they also approved a total of 112 environmental projects amounting to $13 billion, a 50-percent increase compared to years 2009 and 2010.

For energy, the Manila-based lender also provided a total of $4.4 billion for energy projects that enabled additional 2,125 megawatts of renewable energy generation capacity in the region for 2011 and 2012.

The ADB said that they aim to provide and promote not only for projects focused on economic, social and environmental concerns, but also in projects enhancing access to basic services such as water supply, education, health, as well as helping beneficiaries mitigate and adapt to climate change impacts, among others.

In terms of the pressing concern on climate change, the ADB financed a total of $3.4 billion for climate change-focused projects while they disbursed near $4 billion to transport investments.

The lender also provided for greening and sustaining urban centers, pointing out their $600-million help for projects in greening urban centers in China.

In their contribution for the country in 2011 to 2012, the ADB campaigned for reduce of per person use of water, electricity, paper, as well as the waste generated with 77 percent of their staff at work.

For the year, the lender’s help to the country is seen to go higher as they pledged full support for restoration of the affected areas in Visayas because of Super Typhoon Yolanda, with loan offers reaching up to $1 billion by end of 2013.

The ADB sustainability report is published every two years since it started in 2007, which listed the multilateral’s projects, pledges of support and other operations done within the two-year span.

“[The report] provides an essential tool for stakeholders to assess ADB’s performance in promoting sustainable development and meeting the goals of Strategy 2020,” the ADB said.

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