North American Representative Office (NARO)
Enhancing ADB’s presence in Canada and the United States from Washington, DC
ADB has approved capital management reforms that unlock $100 billion in new funding capacity over the next decade to address the region’s overlapping, simultaneous crises. The expansion of available funds will be further leveraged through mobilizing private and domestic capital to move from the billions to trillions required to tackle the climate crisis.
ADB has appointed Bhargav Dasgupta as Vice-President (Market Solutions) for a period of 3 years. He will be responsible for management of the operations of ADB’s Private Sector Operations Department and Office of Markets Development and Public–Private Partnerships.
ADB has appointed Scott Morris as Vice-President (East and Southeast Asia, and the Pacific) for a period of 3 years. He will be responsible for the management of the operations of ADB’s East Asia Department, Southeast Asia Department, and Pacific Department.
Economic growth in Asia and the Pacific is expected to remain solid, although risks to the outlook are rising, according to a report by ADB.
The increased cost-of-living crisis sparked by surging inflation last year, combined with the lingering effects of the COVID-19 pandemic, is continuing to push people in Asia and the Pacific into extreme poverty, according to a new report by the Asian Development Bank.
ADB, as a transaction advisor for the Government of Bangladesh’s Rampura Amulia Demra Expressway public–private partnership project, has mobilized $261 million of private sector capital for a four-lane, 13.5 kilometer expressway that will ease traffic congestion and provide better connectivity between the capital Dhaka and other major cities.
The Asian Development Bank (ADB) and Joint Stock Company Georgia Capital (GCAP) partnered to issue GCAP’s inaugural sustainability-linked bond. As a strategic investor, ADB provided foundational support to adopt this innovative instrument. This is ADB’s first subscription to a private sector sustainability-linked bond.
Economies in the Pacific are projected to grow collectively by 3.3% in 2023 and 2.8% in 2024 as the subregion continues to recover from the COVID-19 pandemic, according to the latest issue of ADB's Pacific Economic Monitor launched today.
ADB has approved a $100 million loan to help boost the caliber of Cambodia’s labor force by addressing skills gaps and shortages. This will be done through reforms and investments in technical and vocational education and training combined with private sector participation.
The Asian Development Bank (ADB) has appointed Jackie Surtani as regional director for ADB’s Singapore Office, where he will lead efforts to enhance cooperation between ADB and Singapore’s financial sector, as well as explore opportunities for private and public sector projects across the region with a strong focus on climate action.