Philippines, April 27 -- The latest evaluation by the Asian Development Bank's (ADB) Independent Evaluation Department (IED) finds that ADB's overall operational performance remained broadly stable in 2025, with significant variations across sectors. The 2026 Annual Evaluation Review (AER) says a sharper focus is needed to close gaps between strategy and the achievement of measurable poverty reduction outcomes. The performance of ADB's sovereign operations has stabilized overall since 2020, with about two-thirds of validated projects rated successful despite lingering post pandemic pressures. Performance declined, however, in several infrastructure related sectors, including transport; water and other urban infrastructure and services; and ...