6 May 2018: At its 51st Annual Meeting, the Asian Development Bank (ADB) pledged to expand its vision to pursue a prosperous, inclusive, resilient and sustainable region through its ‘Strategy 2030,’ which is expected to be finalized in mid-2018. The Strategy will renew the ADB’s commitment to eradicate extreme poverty in the Asia-Pacific region, and is aligned with the SDGs and the Paris Agreement on climate change.

Over 4,000 delegates attended the 51st ADB Annual Meeting, which focused on the theme, ‘Linking People and Economies for Inclusive Growth.’ The meeting convened in Manila, Philippines, from 3-6 May 2018.

ADB is preparing Strategy 2030 as its new long-term strategy. The Strategy outlines a vision and key directions for ADB’s engagement with developing member countries until 2030. ADB expects to finalize the Strategy following additional consultations with multi-stakeholder groups, including civil society organizations (CSOs). Strategy 2030 will focus on ten priorities:

1. Tackling persistent poverty and increasing inequalities in Asia and the Pacific by creating quality jobs, promoting quality education, expanding universal health care and strengthening social protection, in line with SDGs 1, 3, 4, 8 and 10;
2. Accelerating progress on gender equality, in line with SDG 5;
3. Scaling up support to combat climate change, build climate and disaster resilience, enhance environmental sustainability, and improve the water-food-energy nexus, in line with SDGs 10 and 15;
4. Building livable cities that are competitive, green, resilient and inclusive, in line with SDG 11;
5. Promoting rural development and food security, in line with SDG 2;
6. Strengthening governance, in line with SDG 16;
7. Fostering regional cooperation and integration;
8. Mobilizing private sector resources to meet the region’s development financing needs;
9. Further strengthening ADB’s role as a provider and facilitator of knowledge; and
10. Pursuing a stronger, better and faster ADB.

Delegates supported using differentiated approaches across groups of countries, given the significant diversity of ADB member countries. Participants agreed the ADB should remain engaged in Upper Middle-Income Countries (UMICs) in areas related to regional cooperation and integration, global public goods and strengthening institutions to address emerging challenges such as climate change, environmental degradation and aging. Delegates further agreed on prioritizing ADB resources for poorer countries, including an increased focus on small island developing States (SIDS) and fragile and conflict-affected situations (FACS) in the Strategy 2030.

The meeting further agreed that the ADB will: continue to implement its graduation policy; scale up private sector operations to strengthen investments in infrastructure to achieve the SDGs; continue to promote regional cooperation and integration; strengthen its knowledge services; and enhance partnerships. Participants stressed the importance of promoting gender equality in the ADB and its operations.

Delegates recognized the urgency of tackling climate change and natural disasters. ADB Vice President Bambang Susantono shared five aspects for investing in resilience, related to: mainstreaming efforts to strengthen resilience within local development efforts; focusing on poor and vulnerable households and communities; pursuing differentiated approaches in recognition of the heterogeneous nature of communities and their levels of risks to climate change and disasters; balancing large-scale investments with flexibility to address local issues, including through integrating resilience in country development plans; and considering poor and vulnerable communities as partners for development.

ADB President Takehiko Nakao shared the ADB’s achievements and innovations, highlighting a record of US$4.5 billion in financing for climate mitigation and adaptation in 2017, which represents a 21% increase from 2016, and positions the ADB to achieve its target of doubling its annual climate finance to US$6 billion by 2020. Nakao concluded that “a One ADB approach will break down silos” and support the ADB to use financial resources creatively and efficiently. [ADB Annual Meeting webpage] [ADB press release on Strategy 2030] [ADB President’s opening speech] [ADB President’s closing speech] [ADB Vice President’s statement] [ADB Road to 2030 webpage]