ADB reviews long-term Strategy 2030

Czeriza Valencia (The Philippine Star) - September 15, 2019 - 12:00am

MANILA, Philippines — The Asian Development Bank (ADB) will be reviewing the performance of its operational priorities in line with its long-term Strategy 2030 to ensure a more effective use of resources.

The bank announced late Friday that it has approved a new corporate results framework (CRF) covering the period 2019–2024 to assess directions, operational priorities and key principles of the bank’s long-term strategy.

It will measure results and achievements in ADB’s seven operational priorities, expanded nonsovereign operations, including private sector development, knowledge development and exchange, and support to poverty reduction and inclusiveness.

Other key measurement areas include ADB’s performance in promoting gender equity and supporting climate change mitigation and adaptation in its operations.

The CRF is also fully aligned with the globally-committed Sustainable Development Goals (SDGs).

Strategy 2030’s operational priorities focus on addressing remaining poverty and reducing inequalities; accelerating progress in gender equality; tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; making cities more livable; promoting rural development and food security; strengthening governance and institutional capacity; and fostering regional cooperation and integration.

“ADB is committed to ensuring its resources are effectively and efficiently used to support its vision to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific,” said the Director General of ADB’s Strategy, Policy, and Partnerships Department Tomoyuki Kimura.

“The corporate results framework will strengthen ADB’s focus on results management by systematically measuring and monitoring its performance from the corporate level down to the project level,” he said.

ADB introduced its first CRF in 2008.

In 2018, it initiated a comprehensive review to align the CRF with Strategy 2030.

The new CRF was developed based on consultations with ADB’s board of directors, Asian Development Fund representatives, officials in ADB member countries and civil society organizations.

It provides the basis for reporting on ADB’s operational and organizational performance, facilitates learning and performance improvement, and communicates ADB’s expected results to stakeholders.

Performance against the CRF indicators and targets is reported in ADB’s annual Development Effectiveness Review.

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