It assists its members and partners by providing loans technical assistance grants and equity investments to promote social and economic development. The Asian Development Bank ADB is committed to achieving a prosperous inclusive resilient and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty.
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Malaysias labor market is improving with the unemployment rate decreasing from 43 percent in Q4 2021 to 41 percent in Q1 2022.
. Cities in the region are increasingly at risk of heat waves which are expected to be more severe and persistent due to global warming. Agricultural growth drove reductions in poverty bolstered by pro-poor spending on basic services and effective rural safety nets. Since 2000 when Ethiopia had one of the highest poverty rates in the world households have experienced a decade of remarkable progress in well-being and the country has seen a 33 percent reduction in the share of the population living in poverty.
The urban poor are especially vulnerable to heat stress and associated health and productivity impacts as they often work outdoors and tend to live in overcrowded housing without adequate ventilation or cooling. To further sustain recovery a key priority for Malaysia is to address the economic impact of COVID-19 by gradually rebuilding fiscal buffers through increased revenue collection and greater spending efficiency.
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