Development Effectiveness Report 2017

Development Effectiveness Report 2017 Synopsis

Achieving the Agenda 2030 for Sustainable Development and the Paris Agreement on Climate Change will require significant contributions by the private sector. In 2017, ADB committed funding to 27 new private sector operations (PSOs) for a total funding amount of $2.3 billion, a 27% increase compared to 2016 and the highest amount yet. This amount is complemented by a record $5.9 billion in cofinancing, which represents 50% of all cofinancing mobilized by ADB. ADB's portfolio of PSOs grew by 17% to $10.9 billion. Transactions committed in 2017 will make significant contributions to the economies of member countries. They are expected to generate more than $492 million in government revenues and enable procurement of $2.2 billion of goods and services from local firms. 2017 commitments are expected to provide 17,000 new jobs. ADB's PSOs active in 2017 have contributed to their economies by purchasing goods and services worth more than $2,860 million locally and have contributed $588 million in government revenues. Projects have provided employment for an additional 133,850 people.