Two thirds of the world's poorest people live in Asia and the Pacific. The aim of the Asian Development Bank (ADB), based in Manila, is to reduce poverty and promote sustainable economic growth throughout the region that benefits poor people.
As well as providing finance and technical expertise, the ADB has extensive knowledge and experience of working in Asia and the Pacific and has built close ties with governments. The UK's shareholding is around 2%.
Between 2007-2010, money provided by the ADB had a wide range of benefits in Asia and the Pacific, including:
The UK's multilateral aid review assessed ADB to provide very good value for money, with clear strategic management focusing on delivering results in areas important to the UK. The bank works effectively in South Asia and finances the basic infrastructure needed for sustainable economic development.
The multilateral aid review also identified the following priorities for reform:
Donor countries, including the UK, have agreed to contribute almost $4.2 billion (USD) to the ADB fund between 2009-2012. This money will provide concessional loans and grants for projects which include:
For more than 20 years the availability of secure energy supplies in Afghanistan was significantly disrupted by conflict. Until recently, more than 90% of the population had no access to electricity. The ADB has played a key role in the construction and rehabilitation of the North East Power system (NEPS), a 420 kilometre transmission line which has brought electricity to the capital Kabul, allowing many of the four million inhabitants to enjoy the benefits of power.
Before now, electricity in Kabul was only available for a few hours at a time and often only once or twice a week. However in early 2009, parts of Kabul started receiving 24 hour power for the first time in decades.
Shopkeeper Mohammed Isaq knows the value of electricity. As a television shop owner he has seen his sales greatly improved. "The season for selling televisions is the Afghan New Year, and we sold twice as many this year," he said. "Electricity is our life".
In addition to the construction of the NEPS, the ADB is also improving energy links with Uzbekistan and Tajikistan, and financing a package that will help connect 1.2 million people in rural Afghanistan to the electricity network.
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Kabul lights up: The Asian Development Bank has played a key role in the construction and rehabilitation of the North East Power system in Afganistan. Picture: Asian Development Bank
In recent years many countries in South Asia have seen rapid economic and social development. However, the ADB estimates that around 900 million people are surviving on less than $1.25 a day