ADB loans increase to $10.5 billion in 2008

18 Apr, 2009

The Asian Development Bank (ADB) approved $10.5 billion in loans in year 2008, showing an increase of 5.3 percent over the previous year. The 2008 amount is the highest in ADB's 42-year history, according to ADB's 2008 Annual Report, released ahead of the 42nd Annual Meeting.
It reflects the region's ever-increasing development finance demand, and the assistance provided by ADB to help developing member countries deal with the impact of the global financial crisis. Loans with government guarantee last year totalled $8.7 billion for 72 projects. Of this amount, $6.9 billion came from the ordinary capital resources of ADB, while the balance was source from the concessional Asian Development Fund (ADF).
ADB approved a further $811.4 million of assistance in grants in 2008, up 20.6 percent from the previous year. Of the total, $707.4 million came from ADF and $104 million from external sources. A total of 299 technical assistance projects were approved worth $274.5 million, all of which were also provided as grants, the report added.
Recognising the important role of the private sector in generating jobs and economic growth, ADB significantly increased non sovereign lending in 2008. It approved $1.5 billion for 13 loans to the private sector, an increase of 106.9 percent on the previous year, and $300 million for non sovereign loans to the public sector.
The Annual Report notes that in May 2008 ADB secured $11.3 billion for the next four-year phase of its concessional ADF to fight poverty in Asia and Pacific region a significant jump of over 60 percent from the previous period. The ADF provides grants and low-interest loans to Asia and the Pacific's poorest countries while the new ADF will cover the period 2009-2012.

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