Operations reach $58b

ASIAN Development Bank (ADB) operations — comprising approvals of loans and grants, technical assistance (TA), and cofinancing — reached $US28.9 billion ($F58b) in 2017 in its continued efforts to help meet Asia and the Pacific’s development needs, according to preliminary figures released today.

Approvals of loans and grants from ADB’s own resources reached a record $US19.1b ($F38b), representing a 9 per cent increase from the $US17.5b ($F35b) seen in 2016.

This puts ADB well on its way to meet its $US20b ($F40b) target by 2020. Of the total, nonsovereign (primarily private sector) operations accounted for $US3.2b ($F6.5b), a 26 per cent increase from $US2.5b ($F5b) in 2016. TA, meanwhile, increased by about 22 per cent to $US205 million ($F413m) from $US169m ($F341m) in the previous year.

Commitments (the amount of loans and grants signed)-ADB’s new performance measure-reached $US20.1b ($F40b). This is a significant increase from $US13.3b ($F26b) in 2016, reflecting the signing of large projects approved in 2016 and 2017.

“The strong figures for ADB operations in the past year were supported by the successful merger of ADB’s concessional Asian Development Fund lending operations with the ordinary capital resources balance sheet-which took effect at the start of 2017,” ADB president Takehiko Nakao said.

“This will allow us to deliver a much higher level of assistance to our developing member countries for years to come without seeking a capital increase.”

A highlight of ADB’s operational figures for 2017 is climate financing, which reached a record $US4.5b ($F9b) (comprising mitigation $US3.6b ($F7.3b) and adaptation $US0.9b ($F1.8b)), a 21 per cent increase from 2016.

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