MANILA, Feb. 18 (Xinhua) -- The Asian Development Bank (ADB) announced on Tuesday that it has approved a plan to scale up its operations by 50 percent over the next decade, leveraging its existing capital base to enhance its development impact across Asia and the Pacific.

The Capital Utilization Plan (CUP) outlines a pathway for increasing the ADB's annual financing commitments from 24 billion U.S. dollars in 2024 to more than 36 billion dollars by 2034.

According to the bank, this expanded financing will bolster the efforts of ADB's developing members to address critical development priorities in the region.

The ADB said the plan would increase the bank's lending commitments over the next two to three years.

Under the plan, nonsovereign operations are expected to grow at an accelerated pace, rising from 20 percent to 27 percent of commitments over the decade, while sovereign operations will expand at a moderate pace with a more balanced and diverse portfolio. Enditem

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