Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Saturday, March 17, 2018 04:50:27 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

ADB disbursed $28.9b loans, grants in 2017

photo by

Share your thought
Post a comment »
Read all () »

Economic Reporter :
Asian Development Bank (ADB) operations comprising approvals of loans and grants, technical assistance (TA), and co-financing has reached $28.9 billion in 2017.
ADB with continued efforts to help meet Asia and the Pacific's development needs, according to preliminary figures released on Friday.
According to ADB press release on Friday approvals of loans and grants from ADB's own resources reached a record $19.1 billion, representing a 9% increase from the $17.5 billion seen in 2016.
A highlight of ADB's operational figures for 2017 is climate financing, which reached a record $4.5 billion (comprising mitigation $3.6 billion and adaptation $0.9 billion), a 21% increase from 2016. This puts ADB in a good position to achieve its $6 billion climate financing target by 2020.
Co-financing approvals declined to $9.5 billion in 2017 from the $13.9 billion recorded in 2016, partly due to the delay of large expected co-financed projects. Disbursements were $11.7 billion in 2017, compared to $12.7 billion in 2016. This is because of lower approvals, and hence disbursements, of policy-based lending and counter-cyclical support facility, among other factors.
A key priority for ADB in 2018 is to finalize its new corporate strategy, Strategy 2030. ADB's 51st Annual Meeting of its Board of Governors will be held in Manila again in May 2018 after 6 years. ADB expects more than 3,000 participants to attend the meeting.
It puts ADB well on its way to meet its $20 billion target by 2020. Of the total, non-sovereign (primarily private sector) operations accounted for $3.2 billion, a 26% increase from $2.5 billion in 2016. TA, meanwhile, increased by about 22% to $205 million from $169 million in the previous year.
Strategy 2030, the impact of technological change and globalization on jobs, aging and longevity dividends, role of women entrepreneurs, and private sector participation in infrastructure development will be among the topics discussed.
ADB's new performance, commitments for the amount of loans and grants signed has reached $20.1 billion in 2017. This is a significant increase from $13.3 billion in 2016, reflecting the signing of large projects approved in 2016 and 2017.
An innovative $100 million TA loan to the Philippines, approved in October 2017, will help the government prepare and deliver infrastructure projects under its Build Build Build program.   
On the funding side, ADB offered new and innovative thematic products such as the health bond and gender bond. This is on top of increased efforts to raise local currency funding to meet the growing demand for non-sovereign local currency loans. ADB's Indonesian rupiah bond in December was the first bond issued from a multilateral development bank of which Indonesia is a shareholder.
"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," he added
 "Disbursements are essential to make a difference on the ground. Cofinancing and catalyzation is a much-discussed strategy in the international community to realize the Sustainable Development Goals," said Nakao.
 "ADB will come up with additional concrete measures to increase disbursements and cofinancing, building on the new procurement policy approved in April 2017 and ongoing efforts to leverage resources," Nakao added.
Among ADB's other operational highlights were projects that combine finance with innovative approaches to development, including satellite data and remote sensing to improve irrigation in Indonesia and Pakistan, pilot testing of climate-smart agriculture practices in Bangladesh, and supporting social welfare reforms in Mongolia to promote human development.
ADB launched three high-impact publications in 2017. Meeting Asia's Infrastructure Needs estimated Asia and the Pacific's annual infrastructure needs at $1.7 trillion per year until 2030. A Region at Risk: The Human Dimensions of Climate Change in Asia and the Pacific put forward scenarios of the devastating effects of climate change.

Add Rate

News Archive

Inside The New Nation

Editorial »

We mourn Hawking's death, his vacuum will not filled so soon

STEPHEN Hawking died at Cambridge in England on Monday at the age of 76. A scientific genius who rose to eminence by his work on theoretical physics explaining the system of universe is no more but the scientific world will remember him over the time to come. We join the ...

Entertainment »

Parineeti was forced to take a massage!

It has been a gruelling shooting schedule for Parineeti Chopra, who is currently filming for Namaste England. The actress has been pulling off all day long shoots as she is filming an energetic song sequence with her co-star Arjun Kapoor. `It has been insane for Parineeti. She has been dancing ...

Sports »

Shakib Al Hasan (left) celebrates the dismissal of Danushka Gunathilaka during their second Twenty20 cricket match in Nidahas Trophy in Colombo on Friday.


City »

BNP Chairperson's Adviser Advocate Khondkar Mahbub Hossain, among others, at a roundtable on 'Release of Begum Khaleda Zia and Next Parliament Election' organised by Bangladesh Unmukta Ganotantrik Parishad at the Jatiya Press Club on Friday.


International »

Abe`s support falls to 39 pc amid scandal doubts

Reuters, Tokyo :Japanese Prime Minister Shinzo Abe's support has fallen 9.4 points to 39.3 percent, a survey by Jiji news agency showed, as suspicion swirls over a suspected cover-up linked to cronyism, Abe's worst crisis since taking office.Abe and Finance Minister, Taro Aso, 77, have been under fire since the ...

Editorial »

Myanmar militarising Rakhine State

MYANMAR is militarising Rakhine State at an alarming pace as it is building helipad and camps for security forces bulldozing Rohingya villages. The latest move is not only making security on Bangladesh border highly tense but also making difficult safe and voluntary return of Rohingya refugees even as a more ...

Cricket »

Shakib to play against Sri Lanka today

Sports Reporter :World-class all-rounder Shakib Al Hasan will play for Bangladesh against Sri Lanka in the last Robin League match of the Nidahas Trophy Tri-Nation Twenty20 Cricket Series at R Premadasa Stadium in Colombo today. Shakib Al Hasan joined Bangladesh squad in Colombo on Thursday. A BCB official said, " ...

Entertainment »

Have been extremely lucky to play varied shades in one show: Aditi Rathore

While one complains of done to death storylines on television shows, there is Naamkaraan that believes in pushing the envelope and bring out new facets in its storyline. With the plot recently going through a leap, the protagonist of the show Aditi Rathore calls herself lucky, as she gets an ...

City »

Dhaka Reporters Unity (DRU) organises a condolence rally in the city's Segunbagicha area on Thursday in memory of those including DRU Member Ahmed Faisal who were killed in US-Bangla aircraft accident in Nepal.


International »

Syria conflict rages as war enters eighth year

AFP, Beirut  :Syria's lacerating conflict entered its eighth year Thursday with the country riven by international power struggles, as Turkey encircled a besieged northern Kurdish enclave, while Russian-backed regime forces pounded into shrinking rebel areas near Damascus.The bloodshed, which has devastated huge swathes of the country since it started on ...

Editorial »

Tillerson`s sacking was not a surprise yet he deserved respect

TILLERSON'S firing did not come as a surprise, Trump sacks anyone anytime. The cruel fact is that the Secretary of State, Rex Tillerson may be fired anytime was well anticipated over three months ago. What's, however, shocking is that Donald Trump shows no sense of respect towards him in not ...

Football »

New York Red Bulls defender Aurelien Collin (front) tries to clear the ball away as Tijuana forward Juan Martin Lucero (center) and defender Damian Perez look on during the second half of a CONCACAF Champions League quarterfinal soccer match on Tuesday in Harrison, N.J. The Red Bulls won 3-1.

Entertainment »

Having more women filmmakers is bringing a change: Lara Dutta

From winning the Miss Universe crown to navigating her way in Bollywood, coming up with a prenatal yoga series and now debuting on television, Lara Dutta Bhupathi has enjoyed various roles in showbiz. She says with increasing participation of women behind the cameras, there's a change visible in the entertainment ...

International »

First US woman to lead CIA

AFP, Washington :Gina Haspel, nominated by President Donald Trump to lead the CIA, is a black ops veteran who once ran a secret interrogation operation in Thailand accused of torturing detainees.If approved by the Senate, Haspel would be the first woman ever to run the Central Intelligence Agency.Despite a controversial ...

Entertainment »

Nawazuddin opens up about films and marriage in a recent interview!

Nawazuddin Siddiqui was recently interviewed by Anupama Chopra from Film Companion regarding his new book 'An Ordinary Life: A Memoir', in which he stated that he was inspired to be an actor by watching Shatrughan Sinha and about how his journey as an actor turned out to be extraordinary with ...

Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Write a comment to this news