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ADB Lending Rose 6.3% to US$5.68 Billion in 2002, Focused on Poverty Reduction

MANILA, PHILIPPINES (30 January 2003) - The Asian Development Bank's (ADB) lending in 2002 rose 6.3% to US$5.68 billion from US$5.34 billion in 2001, according to data released today.

In 2002, ADB approved 85 government-guaranteed loans to its developing member countries for 67 projects and programs, compared with 76 loans the year before.

Thirty-eight projects and programs were especially targeted to reducing poverty, amounting to US$2.33 billion, or 42% of public sector lending.

ADB also approved four loans without government guarantee to the private sector, amounting to US$145 million, a sharp rise from four loans totaling US$37.5 million in 2001.

In addition, four guarantees amounting to US$885 million, were approved in 2002.

The average loan amount was US$64 million, compared with US$70 million in 2001.

India, with US$1.18 billion, or 20.9% of the total, was the largest borrower among 21 countries in 2002.

Pakistan was next with US$1.14 billion, or 20.1%, followed by the People's Republic of China (US$868 million, or 15.3%), Indonesia (US$767 million, or 13.5%), and Viet Nam (US$315 million or 5.6%).

Seven countries borrowed between US$300 million and US$60 million last year -- Bangladesh, Sri Lanka, Uzbekistan, Afghanistan, Cambodia, Lao People's Democratic Republic, and Nepal.

Nine other countries accounted for 2.8% of ADB lending. About US$150 million, or 2.6%, went to three regional projects.

By sector, transport and communications accounted for 28.4% of the total. This was followed by energy (17.9%), finance (15.2%), others (13.7%), social infrastructure (11.8%), and agriculture and natural resources (8.7%).

Of ADB's total public sector lending, ordinary capital resources (OCR) accounted for US$3.9 billion, while US$1.6 billion came from its concessional Asian Development Fund (ADF) - a decrease of 1% for OCR and rise of 20% for ADF on the previous year's figures.

ADB approved 324 technical assistance operations in 2002, valued at US$179 million. This was a 22% increase in value terms over US$146.4 million in 2001.

Technical assistance grants to Indonesia amounted to US$19.1 million, followed by Afghanistan (US$15.1 million), India (US$13.2 million), and the PRC (US$13.2 million).

Of the total technical assistance approved, US$102.7 million will be financed from the Technical Assistance Special Fund and using current income from OCR, US$36.4 million from the Japan Special Fund, US$9.6 million from the Asian Currency Crisis Support Facility, and the remaining US$30.3 million from other multilateral and bilateral sources.

Some 27 projects received grant financing amounting to US$177.5 million in 2002. Of this, US$71.8 million was to be financed by the Netherlands, US$49.3 million by the Japan Fund for Poverty Reduction, US$24 million by Denmark, and US$22.36 million by the United Kingdom, US$6.36 million by the Global Environment Facility, US$3 million by Sweden and US$680,000 by the Japan Fund for Information and Communication Technology.

Official figures will be published in the ADB Annual Report, due for release on 24 April.

More at adb.org/media

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