PORT MORESBY, PAPUA NEW GUINEA (16 September 2025) — Asian Development Bank (ADB) President Masato Kanda met with Australian Prime Minister Anthony Albanese to commend Australia’s leadership in the Pacific’s development and discuss shared priorities on quality infrastructure and private sector growth.

“ADB and Australia share a commitment to quality infrastructure that connects communities, builds resilience, and creates lasting economic opportunities for Pacific nations,” said Mr. Kanda. “We look forward to continuing our work together, supporting private sector development across the region, for growth that transforms the lives of the poor and most vulnerable.”

Mr. Kanda highlighted ADB’s $3.5 billion in active Pacific projects, implemented with Australia and other development partners. He recognized Australia as a strategic partner, noting its leadership in the Asian Development Fund, with one of the largest contributions to ADF 14 at $328 million, enabling significant development outcomes on shared Pacific priorities.

The leaders discussed ADB’s commitment to quality procurement to provide better outcomes, especially for Pacific members. Mr. Kanda emphasized his earlier announcement on the mandatory use of merit point criteria. Using merit point criteria, bids for contracts related to ADB-supported projects will be evaluated based on technical strength and capacity to deliver rather than price alone, an approach fully aligned with the Pacific Quality Infrastructure Principles. Since 2020, 80% of large-value contracts across 13 Pacific countries have used this quality-focused evaluation approach, with tangible results including increased local worker and business participation. Through its procurement reforms, ADB has encouraged more competition, drawing more quality-focused contractors and consultants to bid for ADB-financed projects across the Pacific.

ADB and Australia have a long-term partnership to improve the business environment in the Pacific through the flagship Private Sector Development Initiative (PSDI) technical assistance supporting reforms that promote entrepreneurship, inclusive growth, and business models suited to the Pacific. Ongoing policy-based operations, financed by ADB, Australia, and others across the Pacific facilitate the capture of reform benefits. Australia has contributed $26.4 million—75% of total funding—to the current Phase 4 (2020–2026) of the PSDI to foster private sector growth. Between 2021 and 2024, it also provided $428.5 million in support for nonsovereign project cofinancing and $63.1 million for the Trade and Supply Chain Finance Program.

ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.