ADB Approves Plan to Expand Operations by 50%

The Asian Development Bank (ADB) plans to increase its annual financial commitments to $36 bn by 2034, as reported by the bank’s press office. This represents a 50% growth over the next ten years.

The bank has allocated $24 bn for loans, guarantees, investments, grants, and other types of financing for 2024.

According to the Capital Utilization Plan (CUP), significant growth in the bank’s operations is anticipated over the next three years. After that period, ADB’s commitments will gradually increase. This strategy aims to enhance support for developing countries in the Asia-Pacific region while maintaining the bank’s high credit rating.

ADB also plans to strengthen staff capacity and expand its technical assistance programs. By 2030, climate finance instruments and projects are expected to account for at least 50% of ADB’s total commitments.

Kursiv Uzbekistan also reports on the projects in Uzbekistan that will receive support from the Islamic Development Bank (IDB).