ADB raises 2020 budget for Strategy 2030

MANILA, Philippines — The Asian Development Bank (ADB) has raised its administrative budget for 2020 by 5.2 percent to $726.7 million to support increase in staffing and make operations more efficient.

In a statement over the weekend, the Manila-based multilateral bank said the main cost driver for the budget increase is the increase in staffing meant to support the delivery of the bank’s long-term Strategy 2030.

It will also cover the additional information technology requirements and provision of support for resident missions.

ADB estimates that most of the additional staff would be onboard for non-sovereign operations and related support, sovereign operations, and additional skills required for the seven operational priorities under Strategy 2030.

It noted that its real-time ADB IT reform program and the Digital Agenda 2030 will deliver benefits in terms of quality, productivity, efficiency, and cybersecurity.

“ADB’s 2020 budget will support the implementation of Strategy 2030. Our work program is focused on the seven operational priorities set out in the strategy as well as operations quality, expansion of nonsovereign operations, and providing high quality knowledge solutions,” said ADB president Takehiko Nakao.

“ADB is maintaining prudent budget growth by making the best use of existing resources and continuing to improve productivity and efficiency,” he said.

ADB’s long-term corporate strategy aims to address rising challenges among its developing member countries in Asia and the Pacific through seven operational priorities.

These include addressing remaining pockets of 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.