The Asian Development Bank (ADB) has announced a new corporate results framework (CRF) to improve how it measures its efforts to create a better future for people in Asia and the Pacific. This new framework focuses on clear goals that align with sustainable development objectives (SDGs) and aims to ensure ADB can effectively support its member countries.
New Goals for the Future
The new CRF will guide ADB’s work from 2025 to 2030 and is part of a broader update to its corporate strategy called Strategy 2030 Midterm Review. This strategy aims to address key issues facing the region and help countries grow and thrive.
Focus on People and the Planet
The new framework emphasizes the well-being of individuals, the health of the environment, and the prosperity of ADB’s member countries. It has reduced the number of key performance indicators from 60 to 35, concentrating on four main areas: development results, strategic alignment, operational management, and organizational effectiveness. Additionally, there are 37 extra tracking indicators to provide more detailed insights into ADB’s performance.
Key Financial Targets
As part of the new framework, ADB has set ambitious financial targets for 2030. One goal is for climate finance to make up 50% of total financing, aiming for over $100 billion in climate funding between 2019 and 2030. ADB also aims to boost private sector financing to $13 billion each year.
A Commitment to Progress
“ADB’s new CRF is crucial for adapting our efforts to the region’s changing needs and aligning with global priorities, like climate action and private sector development,” said Xinning Jia, the Director General for ADB’s Strategy, Policy, and Partnerships Department. “This framework enhances our ability to track progress and deliver real results for the countries we serve.”
Strengthening Development Effectiveness
Since its introduction in 2008, the CRF has been a vital tool for ADB to evaluate and improve its impact. The updated framework builds on past efforts and seeks to ensure that development outcomes are at the center of ADB’s operations.
ADB will regularly review its progress through its annual Development Effectiveness Review, focusing on emerging challenges and adapting strategies to increase its impact.
ADB’s Mission
Founded in 1966, the Asian Development Bank is owned by 69 member countries, including 49 from the Asia-Pacific region. ADB is committed to creating a prosperous, inclusive, and sustainable future for its member countries while working to eradicate extreme poverty.
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