Catalog

Annual Report 2001

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Operational Highlights

Loan approvals

• Lending for both public and private sector operations totaled $5,339 million for 76 loans in 60 projects.
• Lending to the public sector amounted to more than $5,301 million for 57 projects, comprising $3,940 million from ordinary capital resources (OCR) and $1,362 million from the Asian Development Fund (ADF).
• Twenty-two developing member countries (DMCs) and one regional project received ADB loans. India received the largest amount ($1,500 million or 28%), followed by People’s Republic of China, Pakistan, and Indonesia.
• Transport and communications received the highest share of loans with $1,426 million or 27% of the total lending.
• The average loan size was $70 million.

    

Poverty reduction

• Eight projects totaling about $24 million were approved for financing from the Japan Fund for Poverty Reduction.
• Partnership agreements on poverty reduction were signed between ADB and Bhutan, Lao People’s Democratic Republic, Nepal, and Philippines.

Private sector operations

• ADB’s lending to the private sector, totaling $37.5 million for four loans, included its first private sector support in the social sectors for education and health care.
• ADB approved three equity investments in the private sector, totaling $30.4 million.

   

Loan disbursements

• A total of $3,874 million was disbursed. Of this, 63% was for project loans, followed by program, sector, and private sector loans.

Technical assistance

• A total of 257 technical assistance grants amounting to $146.4 million were approved.
• Of the total amount for technical assistance, $39.8 million came from the Technical Assistance Special Fund resources and $20.0 million from ordinary capital resources current income; $53.8 million from the regular and supplementary contributions to the Japan Special Fund; $16.1 million from the Asian Currency Crisis Support Facility; and $16.7 million from other sources.
• Of the technical assistance projects, 64 were for project preparation, 142 for advisory and operational purposes, and 51 for regional activities.
• The largest share (19%) of total project-specific technical assistance went to the agriculture and natural resources sector, followed by social infrastructure, finance, and transport and communications.
• Technical assistance components of loans totaled $180 million.
• Indonesia received the largest share of country-specific technical assistance grants with $15.9 million or 14% of total technical assistance to DMCs. Other top recipients were People’s Republic of China, Viet Nam, and India.

Grants

• Sixteen projects received grants totaling $93.8 million. Of this, eight projects received about $24 million from the Japan Fund for Poverty Reduction; and eight projects that received ADB loans also received grants totaling $69.8 million from the governments of Australia, Denmark, The Netherlands, and United Kingdom, and the Global Environment Facility.

   

Cofinancing

• Cofinancing for loan projects mobilized from all sources amounted to about $1,358 million for 25 projects in 11 DMCs—equivalent to 26% of ADB’s total lending for the year.
• Cofinancing arrangements made with commercial sources totaled $913 million, official sources $425 million, and export credit agencies $20 million.

Financial resources

• Authorized capital stock amounted to $43,834 million. Subscribed capital stood at $43,628 million.
• Borrowings in 2001 totaled $1,607 million, including $1,207 million in medium- and long-term funds through 15 structured private placement transactions and 2 opportunistic public offerings.
• Gross income amounted to $2,238.7 million, of which $1,813.7 million was generated by loan portfolio, $403.4 million by investment portfolio, and $21.6 million from other sources.
• In 2001, ADB’s Special Funds consisted of the concessional Asian Development Fund with committed resources amounting to $5.2 million, Technical Assistance Special Fund $33.9 million, Japan Special Fund $30.9 million, and ADB Institute Special Fund $61.5 million.
• The Japan Fund for Information and Communication Technology was established in 2001 to harness the potential of information and communication technology and bridge the growing digital divide in Asia and the Pacific. Other funds established this year, to be administered by ADB, are the Dutch Fund to promote renewable energy and energy efficiency, the Canadian Fund to manage climate change, the fund from the United Kingdom to focus on poverty reduction in India, and the multidonor Cooperation Fund for the Water Sector to promote effective water management policies and practices at the regional, subregional, and country levels.

   

Policies

• ADB adopted several operational policies and strategies, including the Long-Term Strategic Framework (2001–2015); Medium-Term Strategy (2001–2005); Social Protection Strategy; Water for All: The Water Policy of the Asian Development Bank; Pacific Strategy for the New Millennium; a revised Political Risk Guarantee Policy; Private Sector Operations: Strategic Directions and Review; and Toward E-Development in Asia and the Pacific: A Strategic Approach for Information and Communication Technology.
• ADB introduced London interbank offered rate (LIBOR)-based loan products to meet the needs of its public and private sector borrowers in managing interest rate and exchange rate risks.

Resident missions and other ADB offices

• ADB opened three field offices—an extended mission in Gujarat, India; a resident mission in Mongolia; and a country office in the Philippines—and inaugurated a resident mission in the Lao People’s Democratic Republic.

Management

• Tadao Chino was reelected ADB President in September 2001 for a new 5-year term.