Asian Development Bank (ADB) President Mr. Takehiko Nakao and International Finance Corporation (IFC) Chief Executive Officer (CEO) Mr. Philippe Le Houérou met at ADB headquarters together with senior staff of both institutions to discuss deepening their collaboration on projects and initiatives in Asia and the Pacific.
Mr. Nakao and Mr. Le Houérou reaffirmed the strong and productive partnership between their institutions, and explored ways of stepping up cooperation as ADB expands private sector operations under its long-term Strategy 2030.
“ADB and IFC have worked seamlessly together across Asia,” said Mr. Nakao. “As both organizations sharpen their focus on private sector operations, we expect ever greater cooperation and collaboration. This can range from country-level engagement and public-private partnership advisory work to our financing of private sector projects throughout the region.”
ADB and IFC co-finance many projects in Asia and the Pacific in a range of sectors including energy, telecommunications, agribusiness, and small and medium-sized enterprise financing.
Under Strategy 2030, private sector operations will reach one-third of ADB operations in number by 2024. Every $1 in ADB financing for its private sector operations will be matched by $2.5 of long-term co-financing by 2030.
Original source: ADB
Published on 17 October 2018
