MANILA - The Asian Development Bank (ADB) said Thursday it committed $24.3 billion from its resources in 2024, coupled with 14.9 billion dollars in co-financing in collaboration with its partners, to help Asia and the Pacific solve a range of complex development challenges.

The bank's annual report released on Thursday detailed how the multilateral bank supported its developing members to make progress toward sustainable, inclusive, and resilient development.

The report said the 24.3 billion dollars comprised loans, grants, equity investments, guarantees, and technical assistance provided to governments and the private sector.

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To build on the 1 million direct jobs it generated in 2024, the ADB committed 4.8 billion dollars through its private sector projects and programs, up 28.5 percent from 2023.

"With our increased financial firepower and a sharper strategic focus, ADB is turning commitment into concrete results," said ADB President Masato Kanda.

"We are financing more affordable and efficient energy and transport systems, supporting a vibrant private sector that creates better-quality jobs, and strengthening basic services in education, health, and social protection," he added.