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ADB loans reach record high in 2007
Wednesday, 23 April 2008, 17:18 IST
Mᮩla: The Asian Development Bank (ADB) approved loans worth of $10.1 billion for the region's development in 2007, the largest amount in the bank's 41-year history, it said in a report Monday.
"Our annual loan approvals grew from $7.4 billion in 2006 to 10.1 billion dollars in 2007, clearly demonstrating the growing demand for ADB assistance in all parts of the region," the bank's president Haruhiko Kuroda commented in the bank's annual report.
Pakistan was the largest borrower with $2.0 billion, or 20 percent of the total loans ADB extended last year.
ADB said it approved $760.3 million for 19 loans to the private sector where more jobs and economic growth were generated in recent years.
ADB said it also approved $672.7 million of assistance in grants in 2007, up a quarter from the previous year's figure, as well as 242 technical assistance projects worth $243.4 million.
On project performance last year, ADB showed an improvement in disbursement to $6.8 billion from $5.7 billion 2006, the report said.
Source: IANS
Source: IANS