Pillars for the Future of Development Finance in Asia

After much anticipation, the Asian Development Bank (ADB) recently released Strategy 2030, its long-term corporate strategy to respond effectively to Asia’s changing needs. As the ADB looks to the future of development finance in Asia, it must keep community engagement, including access to effective remedy, at the forefront.Strategy 2030, then in draft form, was heavily showcased during May’s ADB annual meeting in Manila, Philippines. The strategy includes plans to increase private sector lending as well as the use of country systems in lieu of ADB safeguard policies for public sector operations. Strategy 2030 also cites the bank’s commitment to the Paris Agreement and the Sustainable Development Goals as the overarching objectives of the strategy document. However according to the joint submission of NGO Forum on ADB, a close partner of Accountability Counsel, Strategy 2030 still lacks adequate guidance on how will ADB concretely contribute in achieving the targets set forth in these key global agreements...Read more on NGO Forum on ADB's website here.