THE ASIAN Development Bank (ADB) said a “new operating model” will streamline the way it works with member-countries in order to achieve its goal of becoming the region’s main source of climate financing and development solutions.
“The new operating model will enable ADB to increase its capacity as the region’s climate bank; strengthen its work to develop the private sector and mobilize private investments in the region; provide a larger range of high-quality development solutions for its developing member countries; and modernize ways of working to make it more responsive, agile and closer to clients,” according to a press release.
Under the new model, ADB’s five regional departments and resident missions will become a single window for all ADB products and services.
“Staff and expertise from the sectors, themes, and other specializations in which ADB operates will be consolidated, with increased deployment to regions and countries to offer a better range and quality of solutions, resulting in more staff working in the field, closer to clients,” the bank added.
ADB President Masatsugu Asakawa said the restructuring will position the institution to “better respond to the complex development challenges now faced by Asia and the Pacific.”
“It builds on ADB’s core strength, our staff, to help us deliver solutions with the greatest development impact for the region,” he added.
The new operating model will be implemented by the second quarter of 2023. The ADB said it will phase in its rollout to minimize disruptions. — Luisa Maria Jacinta C. Jocson