The Asian Development Bank (ADB) reported a record 58 private sector transactions in 2024, marking a 45% increase from the previous year and totalling $2.6 billion in direct financing, according to its 2024 Private Sector Operations Report on Development Effectiveness.
Total commitments, including programs, projects, and cofinancing, surged to an unprecedented $8 billion, reflecting ADB’s expanding role in advancing private sector-led development and innovation across Asia and the Pacific.
Long-term cofinancing with private partners reached $3.6 billion, comprising $3.4 billion in project cofinancing, $200 million through the Microfinance Program, and $7.4 million via ADB Ventures. An additional $2.1 billion in cofinancing was mobilized through the Office of Markets Development and Public–Private Partnership, amounting to $2.60 in cofinancing for every $1 of ADB financing.
To further support climate-centered investments, ADB partnered with the Government of Canada to launch the Canadian Climate and Nature Fund for Private Sector in Asia—a dedicated trust fund aimed at financing climate-focused private sector projects.
“These impressive results demonstrate how ADB’s agile and innovative private sector approach is helping developing countries navigate an evolving policy environment and manage economic risks,” said Bhargav Dasgupta, ADB Vice-President for Market Solutions, in a statement Tuesday. “ADB will continue to sharpen its focus on removing barriers to private sector development and delivering innovative solutions that deepen markets and drive inclusive growth.”
Key outcomes expected from 2024 projects include the generation of 8,694 gigawatt-hours of power, training for 164,475 individuals, and support for 1 million micro, small, and medium-sized enterprises (MSMEs). The projects are also forecast to produce 564,525 tons of agricultural products, supply water to 10,000 households, and reduce greenhouse gas emissions by 10 million tons of carbon dioxide equivalent annually.
As of 2024, ADB’s active private sector portfolio has benefited 44.3 million MSMEs, of which 42.3 million are women-owned or led, and supported 8.7 million farmers. The portfolio has also created 826,784 jobs, including 145,629 for women, while delivering 70,028 gigawatt-hours of energy annually and cutting emissions by up to 23.5 million tons of CO₂ equivalent.
The bank reaffirmed its commitment to private sector engagement during the midterm review of its Strategy 2030 roadmap. Private sector operations accounted for 30% of ADB’s overall activities in 2024, with investments spanning energy, finance, agribusiness, transport, urban services, health, education, and information and communications technology.
