The Asian Development Bank (ADB) is an important development partner for Australia that leverages significant financial resources and expertise for sustainable development and poverty reduction. It is the principal international development finance institution for the Asia-Pacific region and its strategic priorities closely align with the objectives of Australia's development program including contributing to sustainable economic growth and poverty reduction.

Australia is a foundational member of the ADB (1966) and has been an Asian Development Fund contributor since its inception in 1973.

The ADB's Asian Development Fund (ADF) provides grants to the 13 poorest of the ADB's developing member countries, which includes 9 Pacific Island countries; Federated States of Micronesia, Kiribati, Marshall Islands, Nauru, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu. Other Pacific Island countries including PNG and Fiji are able to access concessional finance, technical assistance, and private sector, climate and gender equality funding through the ADF.

To help respond to the needs of the region and deliver transformative development projects across the Indo-Pacific, Australia has pledged  $492 million for the Asian Development Fund's (ADF14) 2025-28 pledging round.

Australia worked closely with Pacific Island representatives from Cook Islands and Kiribati to ensure that the Pacific will receive over $500 million more than the previous Asian Development Fund replenishment (ADF13).

We also sought further support for climate action and gender equality, in line with Australia's International Development Policy.

Maximising collective impact with the ADB

Australia is the second largest contributor to the ADF, a testament to its capacity to deliver and strong alignment with our strategic and development priorities, which include: regional focus on Indo-Pacific; strong ambition on gender equality and climate action; support to the people of Afghanistan and Myanmar; and a differentiated approach to the most vulnerable countries in the region.

Our membership and financial contributions maximise Australia's opportunities to engage and influence policy for strengthened regional development outcomes.

A record grants component to the Asian Development Fund (ADF) replenishment was announced at the ADB Annual Meeting in Tbilisi, Georgia 2‒5 May 2024.

Australia will work with our pacific family and the ADB to help address the climate challenge

Working with ADB extends the reach and impact of Australia's development assistance in our Indo-Pacific region.

ADB is one of Australia's largest multilateral development partners both in terms of its size and our contribution. It is a trusted partner that provides large-scale funding for programs, backed by specialist technical advice, social and environmental safeguards, and assurances of debt sustainability.

ADB elevated its climate finance target from USD 80 billion to USD 100 billion by 2030. This will account for more than 75 per cent of its operations across the region.

Australia will continue to work closely with the Fund and the Asian Development Bank, supporting its efforts to position itself as the region's 'climate bank' and ensuring it delivers for our Indo-Pacific region.