Asian Development Bank: 2019 projects reach US$ 33.74 billion for Asia and the Pacific

RNK Phnom Penh, May 20th, 2020-

According to ADB on Monday, The Asian Development Bank (ADB) program and development support for Asian and Pacific member countries reached US$ 33.74 billion in 2019.

This shows a strong commitment to its vision to achieve sustainable and resilient goals in the region.

H.E. Masatsugu Asakawa, President of ADB hoped that in 2020, we will continue with the achievements to ensure more work that is in line with our members’ needs as they are fighting against the COVID-19 pandemic.

The President of ADB continued to say that in response to COVID-19 on April 13, ADB approved a US$ 20 billion package to finance activities and programs to help developing countries address the effects of the epidemic.

The ADB’s Climate Financing in 2019 reached a record US$ 6.55 billion. Meanwhile, ADB reached its target a year before the deadline to double its annual investment in climate, which was only US$ 3 billion in 2014. This shows ADB’s high commitment to climate change action.

H.E. Masatsugu Asakawa said that regarding the 2030 strategy, ADB will achieve climate finance totaling US$ 35 billion by 2024 and US$ 80 billion by 2030.

By Sothea