How Australia and ADB support development across Asia and the Pacific

Published on Wednesday, 22 August 2018

Published by Stephen P. Groff on Wednesday, 22 August 2018

Australia and ADB share common objectives and interests which provide a basis for strong and lasting collaboration for development, explains Vice-President Stephen Groff.

I’m here in Canberra, leading our consultations with the Government of Australia. 

This annual series of meetings centers on discussions around ADB’s strategy, operations, and performance—particularly in the Pacific region. 

It is a forum to explore synergies between our work and Australia’s aid programs as well as an opportunity to enhance collaboration between ADB and one of our most important partners in the region. 

While here, I met with the leadership and senior officials from the Department of Foreign Affairs and Trade and the Treasury to discuss our collective commitment to supporting Pacific island countries and the broader Asia region in addressing challenges related to gender inequality, fragility, climate change, and economic and environmental vulnerability. 

We pledged to continue our strong collaboration across development projects, institutional and policy reforms, and analytical work, all aimed at supporting Pacific islands nations to achieve their development potential, while safeguarding against continuing risks. 

  Australia and ADB—a strong partnership based on shared interest and vision

We also discussed ADB’s new corporate strategy—Strategy 2030—which is focused on a prosperous, inclusive, resilient, and sustainable Asia and Pacific. 

Guided by our new strategy, ADB will combine finance, knowledge, and partnerships to maximize development impact for our clients. 

Together, ADB and Australia have established a strong foundation of cooperation based on shared interests and vision. Australia is one of ADB’s founding members. It is also our 5th largest shareholder, the 3rd largest donor to the Asian Development Fund, and a long-term development partner. 

Australia also channels support to several ADB administered trust funds, which provide an important mechanism for pooling finance in crucial development areas such as clean energy, gender equality, health and water as well as disaster risk management and climate resilience. 

Australia is also a major cofinancier with ADB across the Asia-Pacific region. 

  Australia and ADB—partners in development across Asia and the Pacific

The ADB-Australia cofinancing partnership began with small project financing in the Pacific. It has since flourished into a close partnership at multiple levels and in different regions, including major development programs in Southeast Asia, and of course, the Pacific. 

In the Pacific, the ADB-Australia partnership has allowed us to jointly finance large and transformative projects that are beyond the scope and funding envelope of each individual donor on their own.

The strong partnership we have with the Government of Australia —and with other development partners—has allowed us to make greater progress towards improved transport infrastructure, energy, health, access to finance, resilience, and rural livelihoods. 

It is clear that ADB and Australia share common objectives and interests which provide a basis for strong and lasting collaboration for development. 

Looking forward, we will continue to combine our finance, knowledge, and partnership to sustain collective efforts in eradicating extreme poverty and moving towards a prosperous, inclusive, resilient, and sustainable Asia and Pacific region.