The Asian Development Bank (ADB), which was established in 1966, attempts to alleviate poverty in Asia by funding numerous welfare projects in the region. Many Asian countries are members of ADB, which provides them with loans and monetary assistance, as well as providing general technical help with different projects. ADB aims to achieve “a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.” Here are four countries that ADB has benefited positively.
4 Countries the Asian Development Bank Has Helped
- China: The People’s Republic of China is a country that has experienced uneven development in the past century. Major cities are urbanized, while rural areas remain in extreme poverty. ADB has funded and overseen numerous projects to attempt to lift these areas out of poverty and improve the standard of living in the country. One project in Yunnan, for example, pays and trains women to maintain around 5,000 kilometers of rural roads. This offers economic opportunities to rural women while facilitating more transportation between rural towns. Another project funded the purchase of 1,860 clean buses to combat China’s pollution problem.
- Cambodia: While Cambodia has undergone positive development in recent years, poverty still exists in the country, and many of its residents live in adverse conditions. In 2017, for example, 21% of the Cambodian population did not have access to clean water. The Asian Development Bank has encouraged sustainable development in Cambodia through many large-scale projects. In 2003, the bank allotted $15.6 million to Cambodia as part of a project to attract tourists and benefit local economies. More recently, ADB approved a loan of $250 million to support Cambodia’s economy through the COVID-19 pandemic.
- Thailand: In recent years, poverty has unfortunately increased in Thailand, with the poverty rate growing from 7.8% in 2015 to 9.8% in 2018. According to the World Bank, this has been due to several “economic and environmental challenges,” particularly because individual Thai households are highly susceptible to variable economic conditions. Projects by ADB attempt to combat this—one 2017 program introduced around 500 farmers to the organic farming market. This connected them to a greater, more profitable market in order to attain a self-sufficient income. In 2012, a solar power plant funded by ADB was also completed, which generated enough power to provide clean electricity to 70,000 households. The plant also helps to keep greenhouse gases from being released into the atmosphere.
- Sri Lanka: Sri Lanka is a relatively small country, with a population of around 22 million. In 2016, 4.1% of the population was below the national poverty line. ADB has mainly funded rural development projects in Sri Lanka but has also focused on social justice and creating better living conditions for Sri Lankan residents. From 2000 to 2018, ADB helped connect more than 200,000 households to electricity and built or upgraded just under 4,000 kilometers of roads. The Asian Development Bank has also funded support for around one million residents affected by the Sri Lankan Civil War, which lasted from 1983 to 2009.
Since its conception, ADB has made incredible progress in fighting poverty and assisting development in Asia. In 2019 alone, ADB committed $21.64 billion in loans, grants and other investments to various countries and provided $237 million in technical assistance. Still, much poverty remains to be fought—while Asian countries have experienced massive development in the 21st century, many rural areas have been left behind. Poverty remains a pervasive issue in Asia. The Asian Development Bank has changed the lives of many Asian residents, but much remains to be done.
– Maggie Sun