Canada and the Asian Development Bank
The Asian Development Bank (ADB) is a development financial institution that works to reduce poverty in the Asia Pacific region. The ADP works to increase inclusive and sustainable economic growth and regional cooperation in one of the poorest regions in the world. The ADB has 67 members, 48 of which are located in the Asia Pacific.
Established in 1966, the ADB provides loans, technical assistance and grants to member countries. It is the third largest provider of development finance in the region.
Canada’s support for the Asian Development Bank
Canada is one of twelve members of the ADB Board of Directors. Our role here is to promote development efforts and Canada’s interests in the region. Our work with ADB aligns with Canada’s development priorities.
Since joining ADB in 1966, Canada has contributed a total of US$7.7 billion (as of December 31, 2015) to the ADB’s institutional funding. Canada has also provided US$1.5 billion in support to Special Funds.
Special funds include the Asian Development Fund (ADF), the ADB’s concessional window for its poorest member countries, as well as various trust funds in areas such as climate change, clean energy, public-private partnerships, infrastructure and regional connectivity, gender equality, governance, results-based management, disaster risk management and malaria and other communicable diseases prevention. For instance:
- In 2015, Canada announced support for the Asia Pacific Project Preparation Facility (AP3F) to help reduce poverty by building the capacities of developing Asian governments to prepare, structure, and place public-private partnership projects in the market
- In 2013, Canada and the ADB established the Canadian Climate Fund for the Private Sector in Asia (CFPS). This fund helps countries overcome technology risks and cost hurdles in support of projects that reduce greenhouse emissions and increase climate resilience.
- In 2013, Canada provided support to the Integrated Disaster Risk Management (IDRM) Fund. The fund supports collaborative initiatives among governments, the private sector and civil society, working with the Association of Southeast Asian Nations (ASEAN) to reduce the effects of natural disasters on vulnerable populations and increase economic resilience across the region.
Since Canada joined the ADB, Canadian companies and consultants have been awarded US$859 million in procurement contracts (as of December 31, 2015).
Achievements
With an increase in funding in 2015, the ADB provided US$27.17 billion to member countries through loans, grants, technical assistance and project co-financing.
In 2015, the ADB has helped its developing member countries to achieve specific development results, including:
- building or upgrading 10,000 km of roads
- installing or upgrading 780 km of transmission lines
- improving 293,000 hectares of land through irrigation, drainage and flood management services
- providing 166,000 households with new or improved water supply
- providing 3,003,000 households with new or improved sanitation services
- updating educational facilities for 6,766,000 students
- creating 2,880,000 new microfinance loan accounts
- contributing to reducing greenhouse gas emissions by 2,365,000 tons per year
