ADB commits 20.5 billion USD for Asia-Pacific post-COVID recovery

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(VOVWORLD) -The Asian Development Bank (ADB) on Monday released its annual report, showing that it committed 20.5 billion USD from its own resources in 2022 to helping the Asia-Pacific continue its recovery from the COVID-19 pandemic despite fresh economic headwinds and crises.

 ADB commits 20.5 billion USD for Asia-Pacific post-COVID recovery - ảnh 1Illustrative image: ADB

In addition, ADB committed 6.7 billion USD in financing for climate mitigation and adaptation in 2022, making progress toward its goal of providing 100 billion USD in cumulative climate financing between 2019 and 2030.

To address the region's worsening food crisis, ADB provided 3.7 billion USD under its 14 billion USD food security program to deliver essential food relief to the people most in need and strengthen the region’s food production systems.

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