Background and Context
Since its establishment in 1966, ADB has played a pivotal role in promoting economic and social development across Asia and the Pacific. The region has seen remarkable progress in poverty reduction and economic growth over the past five decades. However, persistent challenges remain, including climate change, public health emergencies, and economic vulnerabilities exacerbated by recent global shocks. These issues have prompted ADB to reassess its strategies to better align with the evolving needs of its member countries.
ADB President Masatsugu Asakawa highlighted the urgency of this new roadmap: “Cascading shocks have derailed years of development progress in Asia and the Pacific. ADB is updating its vision, expanding its financial capacity, and modernizing its operational approach to help its members respond to these unprecedented challenges”.
