Friday, April 27, 2018 | ePaper

ADB 2017 operations reach $28.9b

  • Print
Economic Reporter :
Asian Development Bank (ADB) operations-comprising approvals of loans and grants, technical assistance (TA), and co-financing reached at $28.9 billion in 2017 in its continued efforts to help meet Asia and the Pacific's development needs, according to preliminary figures.
Approvals of loans and grants from ADB's own resources reached a record $19.1 billion, representing a 9 percent increase from the $17.5 billion seen in 2016. This puts ADB well on its way to meet its $20 billion target by 2020. Of the total, nonsovereign (primarily private sector) operations accounted for $3.2 billion, a 26 percent increase from $2.5 billion in 2016. TA, meanwhile, increased by about 22 percent to $205 million from $169 million in the previous year.
Commitments (the amount of loans and grants signed)-ADB's new performance measure-reached $20.1 billion. This is a significant increase from $13.3 billion 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," said ADB President Takehiko Nakao.
"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," added the ADB president.
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 percent 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 cofinanced 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.
"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 Mr. 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."
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.

More News For this Category

Prime Finance gets new MD

Prime Finance gets new MD

Business Desk :Md. Ahsan Kabir Khan has been appointed as the Managing Director of Prime Finance and Investment Limited, said a press release.Prior, he was the Additional Managing Director

Stocks end the week marginally up

BSS, Dhaka :Stocks ended the week today marginally up with a rising trend of major indices at Dhaka and Chittagong stock exchanges on higher transactions. Turnover, a crucial indicator

Md. Abul Kalam Azad, LGED Chief Engineer and Saiful Islam Kamal, Chairman of Navana Construction, exchanging agreement signing documents on construction of 600-metre long bridge over Kaliganga River in Nesarabad upazila in Pirojpur District at LGED headquarter in the city on Thursday. Md. Allah Hafiz, Project Director of Bridge Construction Project of LGED, Md. Shahidullah, Executive Director of the construction company and high officials from both the organizations were also present.

Md. Abul Kalam Azad, LGED Chief Engineer and Saiful Islam Kamal, Chairman of Navana Construction, exchanging agreement signing documents on construction of 600-metre long bridge over Kaliganga River in Nesarabad upazila in Pirojpur District at LGED headquarter in the city on Thursday. Md. Allah Hafiz, Project Director of Bridge Construction Project of LGED, Md. Shahidullah, Executive Director of the construction company and high officials from both the organizations were also present.

.

DCCI urges Indian investors to invest in BD

DCCI urges Indian investors to invest in BD

Business Desk :DCCI President Abul Kasem Khan urged to remove the trade barriers between Bangladesh and India. He said in 2016-17 Bangladesh exported $672.404 million to India and imported

Supporting women to get priority in intellectual property law: Amu

Business Desk :Industries Minister Amir Hossain Amu on Thursday said providing government's patronisation and support to women in creative innovation will be prioritised in the National Intellectual Property Act.The

KGDCL gets new MD

KGDCL gets new MD

Chittagong Bureau :Engineer Khayez Ahmed Mojumder has joined Karnaphuli Gas Distribution Company Limited as Managing Director on Tuesday, said a press release.Engineer Khayez Ahmed started his career as 1st

Mosleh Uddin Ahmed, Managing Director of NCC Bank Limited, presiding over a day long

Mosleh Uddin Ahmed, Managing Director of NCC Bank Limited, presiding over a day long "Periodical Business Conference for Managers and Executives" at the bank's head office in the city recently. Khondoker Nayeemul Kabir, AZM Saleh, Md. Habibur Rahman, DMDs, Muhammad H Kafi, Head of Operations and Engr. Shamsur Rahman Chowdhury, SEVP of the bank were also present.

.

Tofail urges Cambodian businessmen to import Bangladeshi products

Business Desk :Commerce Minister Tofail Ahmed said Cambodian businessmen could be benefited by importing world-class products from Bangladesh."Bangladesh is exporting quality pharmaceuticals, RMG, plastic, leather and jute-made products etc

Premier Bank gets new MD

Premier Bank gets new MD

Business Desk :The Board of Director of Premier Bank Limited has appointed M Reazul Karim, as their new Managing Director (MD) and Chief Executive Officer (CEO) recently, said a

Female bikers to share ride with OBHAI

UNB, Dhaka :Ride sharing service OBHAI Solutions Limited, better known as OBHAI, has recruited a pool of women bikers who will be sharing ride with the company.The women bikers