The Asian Development Bank (ADB) has created a High-level Advisory Group on Digital Technology for Development to spur economic growth and inclusive development across Asia.

ADB President Mr. Takehiko Nakao said the advisory group will allow the multinational lender to gain insights and strategic advice from digital technology industry leaders and the academia on providing high-quality support for the development agenda of developing member countries.”

The eight-person experts group will give advice on the use of digital technologies and their implications for ADB’s development work. It will also provide inputs for digital strategies on ADB’s operational priorities, as defined in its Strategy 2030.

As one of the heaviest users of the internet with 41 percent of its population using the web, the Philippines is expected to benefit greatly from this initiative.

ADB on Wednesday also entered into non-exclusive cooperation arrangements with Microsoft Operations Pte Ltd. and Oracle Corporation Singapore Pte Ltd. to collaborate on the adoption and use of emerging technologies in their work.

Under the cooperation arrangements, ADB and the two companies will exchange information on emerging technologies, train people to apply these technologies, and organize joint events and meetings.

Both companies will also provide advisory and knowledge support for ADB’s digital transformation.

“ADB recognizes that partnerships with top IT companies as well as small startups will help support our digital innovation program through knowledge exchange, capacity building, and co-creation of digital solutions designed for ADB’s business needs,” ADB Vice-President for Administration and Corporate Management Deborah Stokes said.

In 2018, the multinational lending bank already created a Digital Technology for Development Unit to realize key innovations through digital technology among its developing member countries.

The unit, along with seven sector groups (education, energy, finance, health, transport, urban and water) and eight thematic groups (climate and disaster, gender, governance, social development, environment, food security, regional cooperation and public–private partnership), have been expanding the use of more advanced technologies, especially digital technologies, in every area of ADB operations.

Since 2010, the ADB has incorporated digital technology in 315 of its projects that included digital components.

The said projects consist of digital tools to teach students, telemedicine and remote health, inclusive finance using smartphones, digital identity incorporating biometrics, smart grid systems for renewable energy, smart sensors for nonrevenue water reductions and simultaneous traffic control using intelligent transportation systems.