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UDF-Space
The past 50 years have been a time of rapid change for the region and the Asian Development Fund (ADF).
From being the poorest region of the world, Asia and the Pacific has become one of the key engines of global growth. As a result, the number of poor living on less than $2.15 a day in the region was reduced drastically from over a billion in 1973 to around 200 million today.
The ADF is proud to be a steadfast partner in this process of growth and development.
The ADF has provided $85 billion in concessional assistance to 36 developing members.
The region still faces unprecedented challenges. Since 2020, the deep and protracted coronavirus disease (COVID-19) crisis has caused significant reversals of development gains in the region and exacerbated pre-existing vulnerabilities and inequalities, both within and across countries. Deepening global challenges like climate change, biodiversity, food security, and pandemics have further hindered progress towards the Sustainable Development Goals and require new approaches.
As ADB's largest Special Fund and ADB's main source of grants, the ADF remains critical to building resilience and sustainability in ADB’s poorest and most vulnerable developing member countries.
More info available at the official website:
www.adb.org/news/videos/celebrating-50-years-asian-development-fund
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