ASIATODAY.ID, MANILA – The Asian Development Bank (ADB) approved its new corporate results framework (CRF) that simplifies and emphasizes outcome-oriented metrics directly linked to the sustainable development goals (SDGs) to better assess its performance in achieving a more prosperous, inclusive, resilient, and sustainable Asia and the Pacific.
The framework, which will guide ADB’s performance for the period covering 2025–2030, is aligned with the recently approved update of its corporate strategy—Strategy 2030 Midterm Review—ADB’s ambitious new road map to guide its evolution and scale up its support on key challenges facing Asia and the Pacific.
The new CRF places well-being and empowerment of people, the health of the planet, and the prosperity of ADB’s member economies at its core. It features 35 results indicators, down from 60 in the previous framework. The indicators cover four interconnected performance areas: ADB’s development results, strategic alignment, operational management, and organizational effectiveness. In addition, 37 tracking indicators will serve as supplementary metrics, enriching the analysis and offering deeper insights into ADB’s performance.
The CRF includes updated corporate targets by 2030, including for climate finance to reach 50% of total committed financing volume, ensuring a cumulative achievement of more than $100 billion from 2019 to 2030. Additionally, it sets a new target for annual private sector financing to reach $13 billion.
“ADB’s new CRF is a critical tool to ensure that we not only more closely align our efforts with the region’s evolving development challenges, but also contribute meaningfully to global priorities, including climate action, private sector development, regional cooperation and public goods, digital transformation, and resilience and empowerment,” said the Director General for ADB’s Strategy, Policy, and Partnerships Department Xinning Jia, October 16, 2024.
“The new CRF strengthens ADB’s ability and focus to track progress toward the SDGs and deliver tangible results for our developing member countries, as well as allow us to monitor and adapt our strategies effectively.”
Since its introduction in 2008, the CRF has served as a key strategic management tool for ADB to assess and enhance its development effectiveness. The latest CRF builds on previous frameworks to drive impactful outcomes, strengthening methodologies for enhanced credibility and harmonizing with other multilateral development bank metrics.
The new CRF will support ADB’s ambition to be better, bigger, and more effective, driving organizational transformation and ensuring that development outcomes are at the heart of its operations. ADB will regularly assess progress through its annual Development Effectiveness Review, with an emphasis on addressing emerging challenges and adjusting strategies to maximize impact.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region. (AT Network)
Follow Us at Google News and WA Channel