ADB provides 31.5 billion USD for Asia-Pacific in 2016
The Asian Development Bank (ADB) operations for Asia and the Pacific reached an all-time high of 31.5 billion USD in 2016, a 17 percent increase from 26.9 billion USD in 2015, according to preliminary figures released on January 9.
The Asian Development Bank (Source: tribune.com.pk)
Hanoi (VNA) – The Asian DevelopmentBank (ADB) operations for Asia and the Pacific reached an all-time high of 31.5billion USD in 2016, a 17 percent increase from 26.9 billion USD in 2015,according to preliminary figures released on January 9.
Approvals of ADB loans,grants, technical assistance, and cofinancing have been growing steadily overthe years as development needs in the region continue to rise.
“The increase in ourdevelopment financing to Asia and the Pacific is reflective of our strongcommitment to reducing poverty and improving people’s lives in the region,”said ADB President Takehiko Nakao.
“Asia is growing at a steadypace, but more need to be done to achieve development that is both sustainableand inclusive,” he added.
The report also pointed outchallenges the region faces such as the realisation of the SustainableDevelopment Goals, climate change, increasing inequality, rapid urbanisation,aging population, and disaster risk management.
Total disbursements of ADBloans and grants reached 12.5 billion USD in 2016 — the highest ever. Thisstrong performance is tied to the reforms ADB has implemented to fast trackprocurement and implementation processes.
Some of the strongpartnerships ADB undertook in 2016 included cofinancing with the AsianInfrastructure Investment Bank for a railway project in Pakistan and a naturalgas project in Bangladesh.
Recently, ADB and the SwedishInternational Development Cooperation Agency (Sida) signed an innovativeguarantee agreement to increase ADB financing by 500 million USD over the next10 years.
🍃 ADB is dedicated to reducingpoverty in Asia and the Pacific through inclusive economic growth,environmentally sustainable growth, and regional integration. Established in1966, the bank is celebrating 50 years of development partnership in theregion. It has 67 members, with 48 from the region.-VNA
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The Asian Development Bank (Source: tribune.com.pk) 
