Sri Lanka
Urgent Response to a Food Crisis
Helping Sri Lanka get past soaring food prices and insecurity means swift help to poor people now, plus enhancing resilience against future shocks.
The World Bank Group (WBG) has been working with ADB since 1972. The WBG works with countries to implement sustainable solutions to reduce poverty and build shared prosperity in developing countries.
WBG’s collaboration with ADB prioritizes projects on health, education, infrastructure, agriculture, public administration, macroeconomic management, institutional development, governance, finance and private sector development, environmental protection, and natural resource management.
Priorities
- Climate action
- Health and education
- Economic growth
- Infrastructure development
- Social protection
Source:
News
ADB Approves $600 Million Budget Support to Bangladesh to Strengthen Economic Management and Governance
11 December 2024
ADB will provide a $600 million policy-based loan to the Government of Bangladesh, with a package of structural reforms supporting mobilization of domestic resources, efficiency of public investment projects, developing private sector, reforming state-owned enterprises, and promoting transparency and good governance.
ADB Boosts Support for Solomon Islands to Develop Climate-Resilient Water, Sanitation
11 December 2024
ADB approved a $25.45 million grant to help Solomon Islands develop a sustainable, inclusive, and climate resilient water supply and sanitation services.
New Publications by GEMs Consortium Offer Further Insights into Emerging Market Credit Risk
15 October 2024
Two new publications released today by the GEMs Consortium—a group of 26 multilateral development banks and development finance institutions—provide further insights on the level of credit risk in emerging markets and developing economies, according to the investment experience of consortium members.
Multilateral Development Banks to Boost Climate Finance
12 November 2024
Multilateral development banks today issued a joint statement at the Conference of the Parties 29 in Baku outlining financial support and other measures for countries to achieve ambitious climate outcomes.
Stories
Regional
Investing for a Greener World
See how ADB and other international finance institutions are partnering to address the climate change crisis.
Nepal
Strong Secondary School Systems for Sustainable Growth
ADB, with its partners—the European Union, the Global Partnership for Education Fund, the governments of Finland and Norway, the Japan International Cooperation Agency, UNICEF, the United States Agency for International Development, and the World Bank—is improving Nepal’s access to quality education.
Bangladesh
Emergency Assistance in Bangladesh
Some 700,000+ displaced persons from Myanmar* flocked to Bangladesh in 2017. ADB swiftly responds to the humanitarian crisis through a $100 million Asian Development Fund (ADF) grant. Joining concerted international efforts, ADB quickly mobilized ADF grant funding of $100 million to help ensure that the 2017 Bangladesh crisis did not escalate further.
*Effective 1 February 2021, ADB placed a temporary hold on sovereign project disbursements and new contracts in Myanmar.
Bangladesh
Keeping the Kids in Primary School
Bangladesh’s Primary Education Development Program introduced innovative approaches that changed the face of basic education in the country, helping increase primary school enrollment and completion rates over the last 20 years.
Knowledge
ADB and the World Bank Group collaborated on several knowledge products and/or events including the following:
Asian Development Bank and World Bank: Full Mutual Reliance Framework
This paper proposes a full mutual reliance framework between the World Bank and ADB to allow borrowers to apply a single set of operational policy requirements and engage with a single lender in charge of appraising and supervising/monitoring cofinanced projects.
Statement: Readout of the Third MDBs & Credit Rating Agencies Roundtable
Chief financial officers and chief risk officers from major multilateral development banks and other development finance institutions convened with the three major credit rating agencies (CRAs) to continue their dialogue on updating CRAs’ rating criteria.
Statement: Multilateral Development Banks United to End Violence Against Women
On the International Day for the Elimination of Violence Against Women in 2024, multilateral development banks were united in their efforts to create a world where women and girls live free from violence.
Joint Multilateral Development Banks (MDBs) Statement on the Independent Panel Report on MDBs Capital Adequacy Frameworks
Nine multilateral development banks (MDBs), including ADB and the World Bank, released a shared statement on the recommendations of the Independent Panel Report on MDBs' Capital Adequacy Frameworks.
Joint Statement by Heads of Multilateral Development Banks and the WTO on Boosting Supply Chain Trade in Emerging Markets
Multilateral development banks need to collaborate to further increase financial support, improve regulatory frameworks, promote marketplaces, drive the E&S agenda, build market capacity, and increase product availability in supply chain finance markets.
10th Conference of the Asia Pacific Public Electronic Procurement Network
ADB organized the 10th Conference of the Asia Pacific Public Electronic Procurement Network on 11–12 December 2024 in Manila, focusing on digital transformation of public procurement with emerging trends in automation and the use of electronic procurement for achieving broader policy objectives toward achieving broad development outcomes.
Financing Commitments
The World Bank Group contributes to ADB’s development initiatives through cofinancing.
Cofinancing
2024
- Project-Specific Cofinancing $960 million
5-YEARS
- Project-Specific Cofinancing $3.7 billion
Partnership framework agreement
In December 2001, ADB and the World Bank Group signed a memorandum of understanding emphasizing closer consultation on country assistance strategies, the elimination of duplication of efforts, the harmonization of operational procedures and processes, and the enhancement of efficiency and effectiveness at the country and institutional levels.
2024 cofinancing highlights
Sovereign Cofinancing. In 2024, the World Bank Group (WBG) committed $960 million in cofinancing to support four investment projects. This includes $800 million in loan cofinancing to support India in developing Amaravati as a growth hub for the capital region to boost economic prospects and improve living conditions of the state’s residents. In addition, the WBG supported $30 million for three grants to Pacific developing member countries.
The Pacific developing member countries have consistently received WBG’s grant cofinancing, as most are recipient countries of the World Bank’s International Development Association and are eligible for 100% grants. ADB and the WBG also work together through development coordination offices posted in selected countries of the 11 smallest Pacific island countries, enabling better coordination in the field.
Projects
