The Asian Development Bank (ADB) today approved a 2021 administrative budget (internal administrative expense budget) of $771.2 million. This represents a 4.7% increase over the 2020 administrative budget, consisting of a price increase of 4.2% and a volume growth of 0.5%.
The 2021 budget will support ADB’s work program, which includes estimated commitments of $21.2 billion for sovereign operations, $2.1 billion for nonsovereign operations, and $384 million for technical assistance. In addition, it will support ADB’s $9 billion Asia Pacific Vaccine Access Facility approved today.
“ADB is committed to supporting our members’ response to the COVID-19 pandemic and we have taken a highly prudent approach to preparing the 2021 budget, drawing on lessons learned this year,” said ADB President Masatsugu Asakawa. “Importantly, this budget allows flexibility to respond to alternative scenarios as well as to enable ADB’s support to enhance COVID-19 vaccine access by our developing members.”
The main cost drivers in the 2021 budget include items related to COVID-19 response, additional information technology requirements, and support for resident missions.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.