Philippines, Nov. 17 -- A new corporate evaluation by the Asian Development Bank's (ADB) Independent Evaluation Department (IED) finds that ADB-administered trust funds and other cofinancing mechanisms have added significant value to development efforts in Asia and the Pacific, particularly by supporting innovation and climate priorities. The report highlights systemic gaps in strategic coherence, institutional coordination, and monitoring that need urgent attention to optimize impact.Covering the period 2015-2024, the evaluation reviewed ADB-administered trust funds and project-specific cofinancing, including global funds, that together mobilized $14.7 billion for development across the region. These resources have been instrumental in pil...