Midterm Review of Strategy 2020: Meeting the Challenges of a Transforming Asia and the Pacific

Abstract

Approved in 2008, Strategy 2020 is the overarching corporate strategy of the Asian Development Bank (ADB). It replaced an earlier long-term strategic framework for 2001–2015. Affirming ADB’s vision for an Asia and Pacific region free of poverty, Strategy 2020 sought to position ADB to implement its mission to help its developing member countries (DMCs) “reduce poverty and improve living conditions and quality of life.” Strategy 2020 aims to make ADB operations more selective and focused on areas where ADB has comparative advantages in light of its limited resources, while addressing the region’s development challenges. The strategy promotes three complementary agendas: (i) inclusive economic growth, (ii) environmentally sustainable growth, and (iii) regional integration. To achieve these goals, five drivers of change are embedded in ADB operations—private sector development (PSD) and private sector operations (PSOs), good governance and capacity development (GCD), gender equity, knowledge solutions, and partnerships. Selectivity and focus would be reflected in the targeted 80% of ADB's operational focus on five core operational areas—infrastructure, environment, regional cooperation and integration (RCI), finance sector development, and education. Support for other areas of operations, such as health, agriculture, and disaster and emergency assistance, are to be selectively provided.