APD | ADB’s “STRATEGY 2030”requires strong results orientation

By APD writer Melo M. Acuña

MANILA, April 22(APD) – The Manila-based Asian Development Bank’s (ADB) latest long-term corporate program “Strategy 2030,” which took effect this year, “needs to be accompanied by a strong focus on results” supported by an improved corporation results framework.  This was how the 2019 Annual Evaluation Review by the ADB’s Independent Evaluation Department looks at the program thrusts.

In a statement released today, it said Strategy 2030 will steer ADB’s approach in addressing challenges in Asia and the Pacific including rising urbanization and demographic shifts as well as tackling the unfinished development agendas of eradicating poverty, reducing inequality as well as closing infrastructure gaps.

“Strategy 2030 represents an important milestone and has created great expectations, at the same time, the new strategic goals and directions still need to be properly translated into operational plans, clear and ambitious targets and effective monitoring and evaluation,” according to Marvin Taylor-Dormond, director general of Independent Evaluation at ADB.

The review underscored that the development success rate of ADB’s sovereign projects and programs is steadily on the uptrend anchored by the strong performance of operations in transport and energy infrastructure, and public sector management.

The ADB statement said with 90% of sovereign operations achieving the expected development results during 2016 – 2018, East Asia remains ADB’s best regional performer, influenced by operations in the People’s Republic of China.  The development success rates ADB operations in South Asia, Southeast Asia and in Central and West Asia remain around ADB’s overall success rate (77%), continuously rising since 2000.  Operations in the Pacific, though improving, are still below average.

Meanwhile, the performance on non-sovereign operations remains weak with only 56% development success rate during 2016-2018.  

“An improvement in the development performance of the financial sector and private equity portfolio is needed, as private sector operations will become more prominent in the context of Strategy 2030,” said Nathan Subramaniam, director of IED’s sector and projects division.  He added the number of actions that the Bank has been taking to this effect are expected to achieve the corporate objective.

The review highlights some selected key results of ADB’s operations based on broad scope evaluations recently concluded.  The areas included poverty reduction and inequality, agriculture operations that promoted inclusive economic growth and smallholder development.  

(ASIA PACIFIC DAILY)