Manila, May 9 -- The Asian Development Bank (ADB) said on Thursday it mobilized a record 8.7 billion U.S. dollars in non-sovereign cofinancing in 2024, underscoring the growing role of private sector engagement in advancing development across Asia and the Pacific.
The figure contributed to a total cofinancing amount of 14.9 billion dollars for the year, complementing the ADB's own investment of 24.3 billion dollars, the bank said in a media release.
"2024 saw a broad-based growth across all non-sovereign cofinancing modalities," the bank said, adding that long-term project cofinancing grew 3.3 percent to 3.4 billion dollars, while trade finance, supply chain, and microfinance programs rose 2.4 percent.
Transaction volumes in trade and...