Manila: A new corporate evaluation released by the Asian Development Bank (ADB) on Monday has found that ADB-administered trust funds and other co-financing mechanisms have added significant value to development efforts in Asia and the Pacific, particularly by advancing innovation and climate priorities.

According to Namibia Press Agency, covering the period 2015-2024, the evaluation by ADB’s Independent Evaluation Department reviewed ADB-administered trust funds and project-specific co-financing, including global funds, which together mobilized 14.7 billion U.S. dollars for development initiatives across the region.

These resources have been crucial in piloting new approaches, scaling up successful models, and supporting global public goods. However, the report noted that despite alignment with ADB priorities, the effectiveness of trust funds remains difficult to assess due to weak monitoring systems. Disbursement delays and fragmented IT platforms also continue to constrain performance.

The evaluation found that compared with peer institutions, ADB’s governance approach to blended finance is more complex and rigid. To address these challenges, the report recommended establishing a clear strategic framework, adopting a consolidated co-financing policy, strengthening senior-level oversight, and improving coordination in fundraising and donor engagement.

It also called for stronger monitoring and evaluation systems, as well as streamlined blended finance governance to enhance efficiency and competitiveness.