ADB Achieves Record $8.7 Billion in Nonsovereign Cofinancing in 2024
Funding | May 08, 2025 | Asian Development Bank
In 2024, the Asian Development Bank (ADB) set a record by mobilizing $8.7 billion in nonsovereign cofinancing, a significant contribution to the total cofinancing amount of $14.9 billion for the year. ADB's investment strategies highlighted private sector engagement in development across Asia and the Pacific. Key projects included the Gulf Solar and battery energy storage project in Thailand, supported by ADB and its partners. Sovereign operations also saw substantial backing with $6.2 billion aimed at enhancing infrastructure and resilience. The milestone achievements were unveiled in the Partnership Report 2024 during ADB's 58th Annual Meeting in Milan, emphasizing diverse partnerships and efforts across countries to tackle challenges like poverty, environmental degradation, and access to basic services. The ADB fosters strategic partnerships, including new associations in 2024 to expand its impact in South Asia.
Sectors
- Finance and Investment
- Renewable Energy
Geography
- Asia and the Pacific – The ADB's activities, including development projects and partnerships, are centered in Asia and the Pacific region.
- Thailand – Specific projects, like the Gulf Solar and battery project, are located in Thailand.
- India – Mentioned in the context of supported projects, such as in early childcare and maternal health.
- Mongolia – Referred to regarding disaster risk financing and insurance solutions.
- Uzbekistan – Involved in power sector reforms as part of sovereign operations.
Industry
- Finance and Investment – This article pertains to financial investments and cofinancing activities led by the Asian Development Bank, which focus on development initiatives.
- Renewable Energy – Highlighted projects include investments in renewable energy, such as the Gulf Solar project in Thailand.
Financials
- $8.7 billion – Amount mobilized by ADB in nonsovereign cofinancing in 2024.
- $14.9 billion – Total cofinancing amount achieved by ADB for the year 2024.
- $24.3 billion – ADB's own investment in 2024.
- $260 million – ADB's contribution to the Gulf Solar and battery energy storage project in Thailand.
- $529 million – Cofinancing from partners for the Gulf Solar and battery energy storage project in Thailand.
- $6.2 billion – Amount supported for ADB's sovereign operations in 2024.
- $3.1 billion – Funds provided by multilateral partners for sovereign cofinancing.
- $2.9 billion – Funds provided by bilateral partners for sovereign cofinancing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Asian Development Bank | PE Firm | Multilateral Organization | ADB is a multilateral development bank focused on promoting economic and social development in Asia and the Pacific. |
| Multilateral Partners | Cofinancing Partner | Organization | Contributed significantly to sovereign cofinancing for development projects. |
| Bilateral Partners | Cofinancing Partner | Organization | Contributed to sovereign cofinancing, supporting numerous development projects. |
| Japan Fund for Prosperous and Resilient Asia and the Pacific | Financial Partner | Fund | Supported multiple projects under ADB's cofinancing schemes. |
| Republic of Korea e-Asia and Knowledge Partnership Fund | Financial Partner | Fund | Backed several projects as part of ADB's cofinancing efforts. |