ADB Annual Report 2018 - Asian Development Bank
As our region continues to develop and transform,so too must ADB. Our new strategy, Strategy 2030,positions ADB well to help the countries of Asia andthe Pacific cope with the development challengesand opportunities that lie ahead.Takehiko Nakao, ADB PresidentASIAN DEVELOPMENT BANK2018 ANNUAL REPORTCONTENTS2PRESIDENT’S MESSAGE4BOARD OF DIRECTORS6FINANCIAL HIGHLIGHTSCHAPTER 1 STRATEGY 203010Working Together for a Prosperous, Inclusive, Resilient,and Sustainable Asia and the Pacific Working Together for a Prosperous, Inclusive, Resilient,and Sustainable Asia and the PacificCHAPTER 2 REGIONS20 Central and West Asia24 East Asia28 Pacific32 South Asia36 Southeast AsiaCHAPTER 3 DEVELOPING THE PRIVATE SECTOR40 Private Sector Operations and the Promotionof Public–Private PartnershipsCHAPTER 4 ORGANIZATIONALEFFECTIVENESS48 Delivering Through a Stronger, Better, and Faster ADB56 APPENDIXESUSB CONTENTSAnnual Report 2018; Financial Report;Operational Data; Organizational Information;ADB Member Fact SheetsSMART READERRead the Annual Report on yoursmart device or screen at:www.adb.org/ar2018/digital
As our region continues to develop and transform,so too must ADB. Our new strategy, Strategy 2030,positions ADB well to help the countries of Asia andthe Pacific cope with the development challengesand opportunities that lie ahead.Takehiko Nakao, ADB PresidentASIAN DEVELOPMENT BANK2018 ANNUAL REPORTCONTENTS2PRESIDENT’S MESSAGE4BOARD OF DIRECTORS6FINANCIAL HIGHLIGHTSCHAPTER 1 STRATEGY 203010Working Together for a Prosperous, Inclusive, Resilient,and Sustainable Asia and the Pacific Working Together for a Prosperous, Inclusive, Resilient,and Sustainable Asia and the PacificCHAPTER 2 REGIONS20 Central and West Asia24 East Asia28 Pacific32 South Asia36 Southeast AsiaCHAPTER 3 DEVELOPING THE PRIVATE SECTOR40 Private Sector Operations and the Promotionof Public–Private PartnershipsCHAPTER 4 ORGANIZATIONALEFFECTIVENESS48 Delivering Through a Stronger, Better, and Faster ADB56 APPENDIXESUSB CONTENTSAnnual Report 2018; Financial Report;Operational Data; Organizational Information;ADB Member Fact SheetsSMART READERRead the Annual Report on yoursmart device or screen at:www.adb.org/ar2018/digital
A New Strategy for ADBACKNOWLEDGMENTSBoard of Directors Working Group on the Annual Report 2018 Scott Dawson (Chair), Mahbub Ahmed,Bobur Khodjaev, Jin Lu, Masashi Tanabe Publisher Vicky C.L. Tan Managing Editor (Print and Digital)Andrew Perrin Production Manager Ma. Theresa Mercado Copyediting Paul Dent ProofreadingAnima Slangen, Noren Jose Art Director Anthony Victoria Design and Information GraphicsCleone Baradas, Rocilyn Locsin Laccay Typesetting Edith Creus, Prince Nicdao Assistant Editor(Digital) Duncan McLeod Programming and Design (Digital) Christopher CharlesonAsia and the Pacific has made great strides in poverty reduction and economic growth in the last 50 years. But there are unfinished development agendas.Strategy 2030 sets the course for ADB to respond to the changing needs of the region and sustain efforts to eradicate extreme poverty.STRATEGY 2030Our vision for Asia and the PacificPROSPEROUSINCLUSIVEThe Board of Directors Working Group on the Annual Report 2018 would like to thank all ADB departments andoffices for their significant contributions to this report.RESILIENTSUSTAINABLEEvery effort has been made to ensure the accuracy of the data used in this publication. Variations in data in ADBpublications often result from different publication dates, although differences may also come from the sourceand interpretation of data. ADB accepts no responsibility from any consequence of their use.By making any designation of or reference to a particular territory or geographical area, or by using the term“country” in this document, ADB does not intend to make any judgments as to the legal or other status of anyterritory or area.In this publication, “ ” refers to United States dollars, unless otherwise stated.ADB recognizes “China” as the People’s Republic of China and “Korea” as the Republic of Korea. 2019 Asian Development BankISSN 0116-1164 (print)ISBN 978-92-9261-558-1 (print), 978-92-9261-559-8 (electronic)Publication Stock No. FLS190058DOI: http://dx.doi.org/10.22617/FLS190058Asian Development Bank6 ADB Avenue, Mandaluyong City1550 Metro Manila, Philippinesadbpub@adb.orgwww.adb.orgSubscriptions to ADB’s Annual Report are available to reference libraries and institutions.We are guided by three CORE PRINCIPLES:We add VALUE through:FinanceKnowledgePartnershipsUsing acountry-focusedapproachPromoting theuse of e use DIFFERENTIATED APPROACHES to address diverse client needs in:Fragile andconflict-affectedsituationsSmall islanddevelopingstatesLow-income andlower middle-incomecountriesOur OPERATIONS focus on:Uppermiddle-incomecountriesTo support our vision we will:EXPAND PRIVATESECTOR OPERATIONSAddressing remaining Acceleratingpoverty and reducingprogress ininequalitiesgender equalityTackling climate change,building climate anddisaster resilience, andenhancing environmentalsustainabilityTo subscribe, e-mail adbpubs@adb.orgMaking citiesmore livablePromoting ruralFostering regionalStrengtheningdevelopment andcooperation andgovernance andfood securityintegrationinstitutional capacityCATALYZE ANDMOBILIZE FINANCIALRESOURCESSTRENGTHENKNOWLEDGE SERVICESCOVER PHOTO: In Papua New Guinea, the Pacific Private SectorDevelopment Initiative, a regional technical assistance facilitycofinanced by ADB and the governments of Australia and New Zealand,is helping women working in subsistence fishing access bank loans andequipping them with the skills they need to develop sustainable, formalbusinesses. CREDIT: Eric Sales/ADB.Annual Report 2018 is printed using vegetable oil-based inks on recycled paper.
ASIAN DEVELOPMENT BANK2018 ANNUAL REPORTWorking Together for a Prosperous, Inclusive, Resilient,and Sustainable Asia and the Pacific
PRESIDENT’S MESSAGE2STRATEGY2030PROVIDESUS WITHA CLEARROADMAPTO MEETTHE NEEDSOF OURDMCs ANDGUIDE OUROPERATIONSFOR THENEXTDECADEIn presentingthis year’sAnnual Report,we drawattention to thebroad contextof a rapidlychanging Asiaand the Pacificand the AsianDevelopmentBank’s (ADB)response to the evolving development needsfacing the region.Asia and the Pacific has made great stridesin poverty reduction and economic growth inthe last 50 years. Today, the world’s economiccenter of gravity is shifting toward the region, andalmost all of our developing member countries(DMCs) already have, or are advancing to,middle-income status. At the same time, thereare unfinished development agendas. Issues suchas poverty and vulnerability, rising inequality,climate change, growing environmental pressures,and large infrastructure deficits remain to beaddressed. Emerging trends, such as technologicaladvancements, urbanization, and changingdemographics, present opportunities andchallenges.As our region continues to develop andtransform, so too must ADB. When I visit ourDMCs and talk to leaders and ministers, theirexpectations of ADB are high and their demandsare becoming ever-more sophisticated. That iswhy, in July 2018, after an extensive consultationprocess, we adopted a new long-term corporatestrategy, Strategy 2030.This strategy will guide us in achieving aprosperous, inclusive, resilient, and sustainableAsia and the Pacific, while sustaining efforts toeradicate extreme poverty. These aspirations arealigned with international development objectivessuch as the Sustainable Development Goals andthe Paris Agreement on climate change.Strategy 2030 recognizes that each of our DMCsfaces a unique set of challenges, and we willA DB AN N UAL R E P O RT 2 0 1 8pursue tailored approaches to support each member.Country partnership strategies will continue to bethe primary platform for defining ADB’s operationalfocus in each country. We will strengthen our supportby applying innovative technologies. We will offerintegrated solutions by combining expertise in a widerange of areas from across our institution. Thesesolutions will be delivered through an appropriatemix of public and private sector operations.Strategy 2030 provides us with a clear roadmapto meet the needs of our DMCs and guide ouroperations for the next decade. We set out clearcorporate targets to significantly increase operationsto build climate and disaster resilience, addressgender equality, and mobilize long-term privatefinancing.Our efforts are now focused on implementing thestrategy. This Annual Report highlights the strategictransition in progress across all aspects of ADBoperations and organization.In 2018, the demand for ADB assistance continuedto grow. Our commitments in 2018 reached 21.58 billion in loans and grants, exceeding our targetof 19.71 billion and the 2017 total of 19.69 billion.Of the 2018 total, private sector commitments sawyear-on-year growth of 37% to about 3.14 billion, thehighest level to date. Our private sector operationsalso mobilized cofinancing of 7.17 billion. Includingofficial and commercial cofinancing and technicalassistance, ADB’s total commitments last year were 35.82 billion, a 13% increase on 2017. Disbursementsalso improved, rising to 14.19 billion in 2018, anincrease of 24% from 2017.We continued to deliver on our climate commitment.In 2015, we set a target to double our annual climatefinancing to 6 billion by 2020. In 2018, we approved 3.6 billion in financing. Using commitments, our newperformance measure, we reached 4.5 billion. Wealso scaled up innovative financing to support PacificDMCs in building disaster resilience.We also made significant progress in designingprojects with a gender focus. In 2018, 47% of ournewly committed projects (on a three-year-averageterm) included elements that directly improve thelives of women and girls.
We continued our important work as a provider ofknowledge services in 2018. Our DMCs benefitedfrom products such as the Asian DevelopmentOutlook’s special theme chapter “How TechnologyAffects Jobs” and the hosting of events such as theAsia Clean Energy Forum, Transport Forum, andGlobal Infrastructure Forum. By attracting expertsfrom across the region and around the world, theseevents garner breakthrough ideas and innovationsthat can later be embedded into our projects andprograms.On the funding side, we raised more than 23 billion in 17 different currencies to ensure arobust resource base for ADB.Internally, we continued efforts to modernize ourhuman resources practices. We recruited a record370 new staff in 2018. This includes 22 youngprofessionals, our largest intake ever. Performancemanagement was strengthened, thanks to strongerlinks between performance reviews and work plansand more frequent feedback from supervisors.We also continued efforts to improve our genderbalance at ADB. Women now account for 36% ofthe bank’s international staff, putting us on track tomeet our target of 40% by the end of 2022.President Nakao delivers the opening address at the 51st ADB Annual Meeting in Manila,Philippines in May. He said ADB was strongly committed to meeting the challenges of atransforming Asia and the Pacific.3Central to Strategy 2030 is a One ADB approach,channeling knowledge and expertise from acrossthe organization to benefit specific projects orinvestments. We will also reach out to otherswithin and outside Asia and the Pacific to forgestronger partnerships for knowledge and financingleverage.Overall, the renewed vigor and enthusiasm broughtby Strategy 2030 positions ADB well to help thecountries of Asia and the Pacific cope with thedevelopment challenges and opportunities that lieahead.TAKEHIKO NAKAOPresident and Chairmanof the Board of DirectorsMANAGEMENT TEAMLeft to right: Vice-Presidents Stephen P. Groff, Bambang Susantono, Diwakar Gupta, Deborah Stokes, Ingrid van Wees, Shixin Chen (succeededWencai Zhang on 12 December 2018); The Secretary Eugenue ZhukovP RE SIDE NT ’S MESSAG E
BOARD OF DIRECTORS4Front, left to right: Directors Tony McDonald, Kris Panday, Anuar bin Ariffin, In-chang Song, Syurkani Ishak Kasim, Kshatrapati Shivaji, President andChairman of the Board Takehiko Nakao, Zhijun Cheng, Takeshi Kurihara, Pierre-Emmanuel Beluche, Shahid Mahmood, Philip Rose. Back, left to right:Alternate Directors Scott Dawson, Leena Viljanen, Ram Saran Pudasaini, Bobur Khodjaev, Mario Di Maio, Mahbub Ahmed, Jin Lu, Masashi Tanabe,Enrique Galán, Paul Dominguez, Helmut Fischer, Jason Chung.The Board of Directors provides strategic directionto the ADB’s and ensures the implementation ofshareholder guidance.use advanced, secure technology systems anddigital processes to enhance its effectivenessand resilience.In 2018, the Board held 35 formal meetings and39 informal sessions. It approved 143 loans,grants, financing facilities, equity investments,and guarantees. It also endorsed new countrypartnership strategies for the Philippines and theKyrgyz Republic.The Board approved a revised Access toInformation Policy that offers continuedcommitment to transparency and support forclear, timely, and appropriate disclosure.MAJOR INITIATIVESIn 2018, the Board approved ADB’s new long‑termcorporate strategy, Strategy 2030, which setsthe course for the bank’s response to evolvingdevelopment needs. Under Strategy 2030, ADB willsustain its efforts to eradicate extreme poverty andexpand its vision to achieve a prosperous, inclusive,resilient, and sustainable Asia and the Pacific.The Board endorsed the Digital Agenda thatprovides the vision and roadmap for ADB’s digitaltransformation. Through the agenda, the bank willA DB AN N UAL R E P O RT 2 0 1 8In July, the Board approved ADB’s NewProducts and Modalities to improve the bank’sproduct range based on the needs of theregion. New offerings include project readinessfinancing (a refined technical assistance loanmodality), a small-expenditure financingfacility, policy-based guarantees, and a standbyfinancing facility for public–private partnerships.COMMITTEESBoard members serve on committees to overseeand give guidance on different aspects of ADB’soperations and governance.
The Audit Committee reviewed the significantprogress of the bank’s new Respectful WorkplaceUnit. It also discussed ADB’s internal plans forbusiness continuity and organizational resilience;reviewed ADB’s annual financial statements, annualinternal audit work plan, and operations of the Officeof Anticorruption and Integrity; and oversaw theselection of the next external auditor.The Budget Review Committee discussed ADB’spreparation of the work program for 2019–2021,the midyear progress and budget utilization for 2018,and the bank’s 2019 budget.The Compliance Review Committee reviewedactions on complaints raised under the bank’sAccountability Mechanism and helped recruita part-time Compliance Review Panel member.The Development Effectiveness Committeereviewed the overall work program of theIndependent Evaluation Department (IED) for2019–2021 and oversaw a pioneering externalreview of IED. The committee assessed major IEDevaluations of ADB’s policy-based lending, supportfor state-owned enterprises, and small- to mediumenterprises and other areas of operational support.The Human Resources Committee oversaw theimplementation of reforms to improve performancemanagement, mobility, recruitment, and staffing.It also guided work on staff satisfaction, genderequality, and efforts to strengthen human resourcesto support Strategy 2030.Programme administrator and former PrimeMinister of New Zealand. The colloquiumdiscussed implementing strategies to achieve theSustainable Development Goals, managing largeorganizations, and working toward gender equality.In November, the Board held an informal discussionwith Tharman Shanmugaratnam, DeputyPrime Minister of Singapore, about the region’sdevelopment challenges and the role of ADB inaddressing these challenges.To gain first-hand knowledge of developmentneeds across Asia and the Pacific, small groupsof Board members visited select countries. InJanuary, Board members visited Sri Lanka andMaldives, where they met with the President andPrime Minister of Sri Lanka, the Vice President ofMaldives, and other stakeholders. In Sri Lanka, thegroup visited agriculture, education, power, andtransport projects. In Maldives, the group visitedsmall and medium-sized enterprise projects inThilafushi and Kulhudhuffushi.143LOANS, ARANTEESWERE APPROVEDBY THE BOARDOF DIRECTORSIN 2018In June, Board members visited Uzbekistan andAzerbaijan, where they met with the Presidentof Azerbaijan, the Deputy Prime Minister ofUzbekistan, and various stakeholders. The groupvisited projects to develop rural housing andhorticultural value chains in the Samarkand andBukhara regions of Uzbekistan as well as road andpower projects in Neftchala, Azerbaijan.In October, Board members visited Indonesiaand Solomon Islands, where they met with thePrime Minister of Solomon Islands, the Ministry ofFinance of Indonesia, senior government officials,PARTNERSHIPSdevelopment partners, and representatives of theThe Board values the exchange of ideas and opinions private sector and civil society. In Indonesia, thewith ministers and senior government officialsgroup visited a wind farm project in South Sulawesiand representatives of bilateral and multilateraland a technical education and vocational trainingdevelopment partners.project in West Java. In Solomon Islands, theyvisited transport projects and the site of a proposedIn March, the Board held a colloquium withhydropower project.Helen Clark, former United Nations DevelopmentADB Board and Management RetreatThe ADB Board and Management Retreat was held on 6–7 September2018 in Tagaytay City, Philippines. Discussions centered on the futureof the Asian Development Fund, knowledge work, and the financialimplications of Strategy 2030, as well as the functional relationshipbetween the Board and management. Guest speakers from leadingtechnology and business process organizations discussed the futureof jobs in the information technology–business process managementindustry.BOA RD O F DIRECTORS5
OPERATIONAL HIGHLIGHTSFINANCIALHIGHLIGHTS2018 COMMITMENTSADB Commitments,a 2014–2018 ( million)ItemA. Loans, Grants, and OthersBy SourceRegular Ordinary Capital ResourcesLoansbEquity InvestmentsGuarantees 21.6 BLOANS, GRANTS, ANDOTHERS 241 MTECHNICAL ASSISTANCE** Excludes cofinancing 14 BCOFINANCING, INCLUDINGTRUST FUNDS6PRIVATE SECTOR OPERATIONSAS A PERCENTAGE OFORDINARY 749816,28616,012274-Concessional ResourcesConcessional Ordinary Capital Resources LoanscAsian Development Fund GrantsdRegular Ordinary Capital and 903,8721,41821,576Special FundseGrantsSubtotal (A)0013,9087716,1919913,2652219,6946621,581By eignLoansEquity InvestmentsGuaranteesSubtotal 16813,26517,408 18,44616,717 17,0224981931,4232,2873,1362,0002,86228727419,694 22,841 26,540 25,46831,81835,817B. Technical AssistancefSovereignNonsovereignSubtotal (B)25C. Cofinancing Including Trust FundsSovereigngTrust Funds Administered by al (C)20TOTAL (A B C)15- nil, 0 less than 500,000.Note: Numbers may not sum precisely because of rounding.aCommitment is the financing approved by ADB’s Board of Directors or Management for which the investment agreement has beensigned by the borrower, recipient, or the investee company and ADB. It is the amount indicated in the investment agreement thatmay or may not be equal to the approved amount, depending on the exchange rate at the time of signing. In the case of official andcommercial cofinancing not administered by ADB for which the signed amount is not readily available, the approved amount is used.bThe 2016 adjusted figure excludes the transfer of a Pakistan project design advance of 5 million to its 2018 ensuing loan.cFormerly Asian Development Fund loans. Effective 1 January 2017, ADB transferred loans and other assets from the AsianDevelopment Fund to ordinary capital resources in accordance with the Board of Governors’ resolution authorizing the terminationof the Asian Development Fund’s lending operations and retaining the Asian Development Fund as a grant-only operation.dThe 2017 adjusted figure excludes three Afghanistan grant commitments amounting to 405 million resulting from re-signing ofproject agreements following a resolution to the conflicting government decrees on authorized signing official and/or agency.eSpecial funds other than Asian Development Fund such as the Asia Pacific Disaster Response Fund and the Climate Change Fund.fTechnical assistance in 2018 totaled 371 million, comprising 241 million in technical assistance from the Technical AssistanceSpecial Fund and other Special Funds, and 130 million from partner cofinancing, including trust funds (see Appendix 1).gThe 2017 adjusted figures include an increase in Pakistan grant cofinancing from 75 to 150 million and exclude two Afghanistangrants amounting to 75 million resulting from re-signing of project agreements following a resolution to the conflicting governmentdecrees on authorized signing official and/or agency.h“Others” includes private sector cofinancing through foundations and corporate social responsibility programs, and any public source,such as national development banks, that do not fall under official cofinancing.iNonsovereign cofinancing includes commercial cofinancing such as Trade Finance Program cofinancing, B loans, and parallel loans,among others. B loans are cofinancing arrangements involving the coordinated process of pooling funds from various sources for asingle borrower or grant recipient, and/or distributing related risks among such other financiers.(VOLUME AND PROJECT COUNT)(%)10502014 2015 2016 2017 2018volumeproject countADB AN N UAL R E P O RT 2 0 1 8
Regular Ordinary Capital and Concessional Resources Commitmentsby Region, 2014–2018 ( million)Region201420152016Central and West Asia3,6964,4623,7345,3144,460East 64055,4085,1683,5036,7616,978Southeast 90816,18413,25519,692(ORDINARY CAPITAL ANDCONCESSIONAL RESOURCES)2018South AsiaRegionalCOMMITMENTS BY REGION, 201821,57632%SOUTH ASIA29%SOUTHEAST ASIA21%CENTRAL AND WEST ASIA14%EAST ASIA2%PACIFIC2%REGIONALCOMMITMENTS BY SECTOR, 2018Regular Ordinary Capital and Concessional Resources Commitmentsby Sector, 2014–2018 ( million)Sector201420159162016Agriculture, Natural Resources,and Rural 515Industry and Trade71412552357607Information and CommunicationTechnology50169257059Public Sector ,9962,8555,0254,914Water and Other UrbanInfrastructure and Services1,6011,7021,6581,5722,192TOTAL(ORDINARY CAPITAL AND CONCESSIONAL RT11%AGRICULTURE, NATURAL RESOURCES,AND RURAL DEVELOPMENT11%PUBLIC SECTOR MANAGEMENT10%WATER AND OTHER URBANINFRASTRUCTURE AND SERVICES9%FINANCE8%EDUCATION3%INDUSTRY AND TRADE2%HEALTH 1%INFORMATION AND COMMUNICATIONTECHNOLOGYFINA NC IA L H IG HL IG HTS7
DISBURSEMENTSFOR LOANS AND GRANTS,2014–2018( ,5972018Portfolio, 2014–2018 ( million)ItemA. Ongoing ProjectsaBy SourceRegular Ordinary Capital ResourcesConcessional ResourcesLoansGrantsBy OperationsSovereignNonsovereignTotalB. DisbursementsBy SourceRegular Ordinary Capital ResourcesLoansEquity InvestmentsDebt SecuritiesConcessional ResourcesLoansGrantsOther Special FundsBy 5314,186- nil.Note: Numbers may not sum precisely because of rounding.a Sovereign portfolio consists of loans, grants, equity investment and guarantee committed and not financially closed.Nonsovereign portfolio consists of outstanding plus undisbursed balances of loans, equities, guarantees and other debtsecurities.bIncludes Asian Development Fund and Other Special Funds grants.8INTERNAL ADMINISTRATIVEEXPENSES PER 1 MILLIONDISBURSEMENT( ’000, three-year 5201620172018INSTITUTIONAL HIGHLIGHTSItemA. StaffStaff a (number)International Staff and Board StaffNational and Administrative StaffNational StaffAdministrative StaffInternational Staff and Board StaffLocationa (number)Resident MissionsbHeadquartersInternational Staff and Board StaffGendera (number)MaleFemaleB. Internal Administrative Budget ( 1598,388617,701635,624646,988672,264 “Staff” refers to all international staff, board staff (i.e., Director’s Advisors), national staff, and administrative staff. The figuresexclude Management, Board of Directors, and Secondees.Includes staff in outposted positions and in ADB’s Philippines Country Office.bADB AN N UAL R E P O RT 2 0 1 82014
EQUITY TO LOANS RATIOADB RESOURCES AND FINANCIAL DATA ( million)ItemOrdinary Capital ResourcesSelected Balance Sheet DataTotal Assetsof whichLoans Outstanding - OperationsInvestments for Liquidity PurposeEquity Investments - OperationsDerivative AssetsTotal Liabilitiesof whichOutstanding BorrowingsaDerivative LiabilitiesTotal Equitycof whichPaid-in CapitalReservesdIncome Statement DataTotal RevenueTotal Expensesof whichBorrowings and related expensesAdministrative expensesNet Realized GainsNet Unrealized (Losses) GainsNet IncomeOperating IncomegAnnual Borrowingsof whichThematic BondsLocal Currency FundingihEquity to Loans Ratio (%)Allocable Net IncomeAllocation to Ordinary ReserveAllocation to ADFAllocation to Other Special FundsAvailable Resources of Asian Development 7 125,854 182,381 191,86055,89061,941 67,599 101,008 106,40523,006 23,309 26,025 36,478 35,2158628628141,1851,28033,092 29,538 29,143 40,761 45,50098,722 100,251 108,640 132,112 36,39910,8157,0027,02943,267e 69) 6584482bSpecial Fund Resources (Other than ADF) - Uncommitted BalancesTechnical Assistance Special Fund221147102105Japan Special FundlADB Institute89Regional Cooperation and Integration Fund88Climate Change Fund1011Asia Pacific Disaster Response Fund417Financial Sector Development Partnership77Special 2(130)750ADF Asian Development Fund.aIncludes accrued interest and commission.bIncludes unamortized premium and/or discounts.cAs of 31 December 2018, authorized and subscribed capital amounted to 147,965 million.dReserves includes ordinary reserve, special reserve, loan loss reserve, surplus, net income after appropriation, nonnegotiable,noninterest-bearing demand obligations and receivables on account of subscribed capital, net notional amounts required tomaintain value of currency holdings, cumulative revaluation adjustment and accumulated other comprehensive income orloss. Reserves includes the one-time income from ADF asset transfer on 1 January 2017.eThe transfer of ADF loans and other assets to OCR on 1 January 2017 resulted in the increase in OCR reserves and decrease inADF resources in 2017.f2017 Net Income refers to net income after allocation of one-time income from ADF asset transfer to Ordinary Reserve.gOperating income is statutory net income before net unrealized gains or losses and ADB’s proportionate share in unrealizedgains or losses from equity investment accounted for under the equity method.hExcludes short-term borrowings.iLocal Currency Funding includes bond, swaps, repo.j2018 net income allocation is subject to the approval of the Board of Governors at the ADB Annual Meeting from 1-5 May, 2019.kIncludes the total fund balance and nonnegotiable, noninterest-bearing demand obligations on account of contributions.lJapan Special Fund resources include Asian Currency Crisis Support Facility uncommitted balance and net accumulatedinvestment income.9SHARE OFRESIDENT MISSION STAFFAS A PERCENTAGE OF TOTALNUMBER OF STAFF IN ADBREGIONAL DEPARTMENTS2014 50%201520162017201851%54%56%59%FINA NC IA L H IG HL IG HTS
110STRATEGY 2030Working Together for a Prosperous, Inclusive, Resilient,and Sustainable Asia and the PacificSTRATEGY 2030HIGHLIGHTSNEWOPERATIONALPRIORITIES ANDAPPROACHES
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ADB COVID-19 Policy Database: A Guide Jesus Felipe and Scott Fullwiler The ADB COVID-19 Policy Database displays the measures taken and monetary amounts announced or estimated by the 68 members of the Asian Development Bank, two institutions, and nine other economies (i.e., a total
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Many practices from Asian wellness traditions have become widely popular in the West, generating a sizeable global economy around yoga, tai chi, Asian massage traditions, and Asian herbal supplements. In turn, this has led to a surge in research investigation into the health benefits of Asian health and wellness practices. Scientific
Oxfam briefing paper 12 January 2017 3 LIST OF ACRONYMS ACFID Australian Council for International Development ADB Asian Development Bank ADBI Asian Development Bank Institute ASEAN The Association of Southeast Asian Nations CIT Corporate Income Tax CSR Corporate Social Responsibility DHS The Demographic and Health Surveys EADN The East Asian Development Network .
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loans, equity investments, guarantees, grants, and technical assistance. Printed in the Philippines Country Poverty Analysis Cambodia Printed on recycled paper Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines www.adb.org ISBN 978-92-9092-539-2 Publication Stock No. RPS114209
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