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ADB Lowers Lending Rates for US Dollar and Japanese Yen Loans

For the period from 1 January to 30 June 2005, the lending rate for US dollar pool-based loans will drop to 6.06% from 6.09%. This reflects the average cost of borrowings - 5.66% per annum from 1 July to 31 December 2004 plus a spread of 40 basis points per annum (this represents a lending spread of 60 basis points and a waiver of 20 basis points).

During the same period, the lending rate for Japanese yen pool-based loans will fall to 1.73% from 1.93%. This reflects the average cost of borrowings for the pool of 1.33% per annum from 1 July to 31 December 2004 plus a spread of 0.4% per annum.

Separately, ADB announced its rebate rates for ADB Libor-based loans. For those USD LIBOR-based loans that were billed with a rate of LIBOR + 0.40% per annum during the period of 1 July to 31 December 2004, the rebate is 0.35% per annum. For Japanese yen LIBOR-based loans that were billed with a rate of LIBOR + 0.40% per annum during the period of 1 July to 31 December 2004, the rebate is 0.39% per annum. Both rebate rates are unchanged from the last period. The rates reflect ADB's average costs of borrowings dedicated to LIBOR-based loans in their respective currencies.

ADB is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members - 45 from the region.

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