ADB to apply new Corporate Results Framework aimed at achieving goals

ADB to apply new Corporate Results Framework aimed at achieving goals
The Asian Development Bank headquarters in Manila. (Photo file/THEPHILBINEWS)

The Asian Development Bank (ADB) approved recently a new corporate results framework (CRF) to better assess its performance in achieving a more prosperous, inclusive, resilient, and sustainable Asia and the Pacific.

The framework, approved last Friday, September 13, is aligned with Strategy 2030, ADB’s long-term corporate strategy to respond effectively to the region’s changing development needs. The new CRF, which covers the period 2019–2024, reflects the strategic directions, operational priorities, and key principles of Strategy 2030.

It will measure results and achievements in ADB’s seven operational priorities, expanded nonsovereign operations, including private sector development, knowledge development and exchange, and support to poverty reduction and inclusiveness.

Other key measurement areas include ADB’s performance in promoting gender equity and supporting climate change mitigation and adaptation in its operations. The CRF is fully aligned with the Sustainable Development Goals reflecting Strategy 2030 commitments.

Strategy 2030’s seven operational priorities focus on (i) addressing remaining poverty and reducing inequalities; (ii) accelerating progress in gender equality; (iii) tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; (iv) making cities more livable; (v) promoting rural development and food security; (vi) strengthening governance and institutional capacity; and (vii) fostering regional cooperation and integration.

“ADB is committed to ensuring its resources are effectively and efficiently used to support its vision to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific,” said the Director General of ADB’s Strategy, Policy, and Partnerships Department Mr. Tomoyuki Kimura.

“The corporate results framework will strengthen ADB’s focus on results management by systematically measuring and monitoring its performance from the corporate level down to the project level.”

ADB introduced its first CRF in 2008. In 2018, it initiated a comprehensive review to align the CRF with Strategy 2030. The new CRF was developed based on consultations with ADB’s Board of Directors, Asian Development Fund representatives, officials in ADB member countries, and civil society organizations.

The CRF provides the basis for reporting on ADB’s operational and organizational performance, facilitates learning and performance improvement, and communicates ADB’s expected results to stakeholders. Performance against the CRF indicators and targets is reported in ADB’s annual Development Effectiveness Review.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members — 49 from the region. (Press Release/ADB)

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