The Asian Development Bank’s (ADB) private sector operations reached $3 billion in 2019, lifting the overall portfolio by 11% to $13.6 billion, according to its latest Private Sector Operations in 2019 - Report on Development Effectiveness.

There were a record 38 new private sector projects committed in 2019, up from 32 the previous year. Almost $7 billion of commercial cofinancing complemented ADB’s direct financing, while $125 million was mobilized through transaction advisory services.

“Reducing poverty and spurring prosperity across the region requires significant contributions from the private sector, and these results show that ADB is helping to make that happen,” said ADB Vice-President for Private Sector Operations and Public–Private Partnerships Diwakar Gupta. “In these challenging times, our support for the private sector is vitally important. ADB will continue to support crucial infrastructure and financial sector development. We will step up efforts to support the private sector in emerging areas like health, agribusiness, and education, and in new and frontier markets including fragile and conflicted-affected situations.”