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p. 12 of 95 BACK | NEXT Message from the Chairman of the Board of Directors Members, Capital Stock and Voting Power The Record Abbreviations 2004 in Review: Board of Directors' Report New and Revised Policies and Procedures Development Partnerships Governing Structures Financing Operations Funding Financial Resources Loans Technical Assistance Grants Equity Investments Cofinancing and Guarantee Operations Resource Transfers Private Sector Operations Special Theme: The Changing Face of the Microfinance Industry: Building Financial Systems for the Poor Part 1: Institutional Effectiveness Part 2: Poverty Reduction Part 3: Financial Statements: Management's Discussion and Analysis

Annual Report 2004 : 2004 in Review: Board of Directors' Report

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Financial Resources

Authorized capital stock amounted to $54.2 billion, and subscribed capital stood at $54.2 billion. ADB raised long-term funds totaling about $1.6 billion, of which $1.0 billion were raised through a global public offering.

Gross income amounted to $1.4 billion, $1.0 billion of which were generated from the loan portfolio, $297.3 million from the investment portfolio, and $39.4 million from other sources of which $29.7 million came from equity investment operations ($10.5 million from dividends and $30.4 million from gains realized on the sale of equity investments offset by $11.2 million in other income that included ADB’s share of losses in net income of the Asian Finance and Investment Corporation Ltd.).

ADB's Special Funds are the ADF with 2004 committed resources amounting to $1.1 billion, the Technical Assistance Special Fund of $56.4 million, the Japan Special Fund totaling $28.6 million, and the ADB Institute Special Fund of $13.1 million.

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