The Asian Development Bank’s (ADB) operations have delivered tangible benefits to the lives of millions of people in Asia and the Pacific over the past four years, while there are several areas needing further improvement at both the project level and within the organization itself, says a new development effectiveness report.

The 2008 Development Effectiveness Review measures how well ADB is implementing its long-term strategic framework, Strategy 2020, which targets inclusive and environmentally sustainable growth, and regional integration.

It is the second corporate performance study to be conducted by ADB. The review taps project completion reports and other data from 2004 to 2008, using a scorecard approach to measure ADB’s contribution to  development in the region and its overall effectiveness as an organization.

ADB is the first multilateral development bank to adopt a comprehensive results system for measuring its performance at the corporate level and to provide clear accountability to stakeholders.

In 2008, over three quarters of all new assistance went to support projects in the five core areas of the Strategy - infrastructure, environment, financial sector development, education, and regional cooperation and integration. The report shows that ADB’s completed operations, evaluated in 2008, delivered significant  development gains particularly in the energy, transport and education sectors. It also notes that ADB has sped up and increased the level of its assistance, with funds of US$8.8  billion disbursed in 2008, the highest ever annual amount. The report further notes that the design quality of new operations has improved.