ADB Report

89

Amid pandemic crisis, ADB has laid the foundations for an inclusive, resilient, and green recovery, ensuring progress toward our Strategy 2030 objectives. As part of the pandemic response, ADB committed $4.1 billion to enable the procurement and delivery of safe and effective vaccines for its DMCs. The bank also provided $3.3 billion to the private sector to keep businesses open, trade flowing, and make medical products and services available. A broad range of knowledge support guided COVID-19 response and recovery plans. To help meet its new elevated ambition of $100 billion in cumulative climate financing by 2030, the bank announced a series of financing initiatives to bolster the region’s low-carbon development. For example, ADB launched the Energy Transition Mechanism that will leverage private and public investments to finance the early retirement of coal-power assets, scale up clean and renewable energy solutions, and ensure the transition is just and affordable. The commitment made by the ADB in 2021 includes loans and guarantees, grants, equity investments, and technical assistance provided to governments and the private sector. In addition, ADB also mobilized $2.019 billion in co-financing. Overall the ADB committed $22.8 billion from its own resources in 2021 to help Asia and the Pacific tackle the immediate effects of the coronavirus disease (COVID-19) pandemic and promote a green recovery. In addition, ADB also mobilized $12.9 billion in co-financing. ADB has been building and sustaining momentum in key policy reform areas such as transport and trade facilitation, water and sanitation infrastructure, agriculture and irrigation, energy, and state-owned enterprise reform. ADB also supporting investments in people through education and health, helping ensure urban development is inclusive, and are focused on climate-resilient growth. In fact, a significant part of our assistance is now centered on public sector reforms including

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