ADB operations reach a record $31.5 billion in 2016

ISLAMABAD (APP): The Asian Development Bank (ADB) operations for Asia and the Pacific reached an all-time high of $31.5 billion in 2016, a 17% increase from $26.9 billion in 2015, according to preliminary data. Approvals of ADB loans, grants, technical assistance, and co-financing have been growing steadily over the years as development needs in the region continue to rise. Approvals of loans and grants for sovereign (government) and non-sovereign (primarily the private sector) operations by ADB itself reached a record $17.5 billion, a 9% increase from $16.0 billion in 2015. Non-concessional loans from ADB's Ordinary Capital Resources (OCR) amounted to $14.4 billion. Concessional loans and grants from the Asian Development Fund (ADF) reached $3.1 billion, with $2.6 billion going to loans and $518 million to grants while the technical assistance, meanwhile, increased by around 20% to $170 million from 2015's $141 million figure.

Published in The Nation, January 11th, 2017