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p. 23 of 39 BACK | NEXT The Record Chairman’s Message Board of Directors' Report New and Revised Policies and Procedures Internal Initiatives Governing Structure Financing Operations Financial Resources Funding Overview of Operations Loans Equity Operations Cofinancing and Guarantee Operations Grants Technical Assistance Multitranche Financing Facilities Resource Transfers Private Sector Operations 2005 in Figures Management Board of Directors Operations in 2005 East and Central Asia Mekong The Pacific South Asia Southeast Asia

Financing Operations in 2005

Loans

In discussions with borrowers during 2005, countries highlighted the need for ADB to expand support for poverty reduction programs

Lending with government guarantee accounted for 65 loans for $5.3 billion (58 projects and programs), comprising 25 loans from ADB’s OCR for $3.9 billion and 40 loans from the ADF for $1.4 billion.1 This is a 6% increase over the almost $5 billion in 2004 (an increase of 4.9% for OCR lending and 11% for ADF lending). Lending without government guarantee to the private sector accounted for seven loans for $536.0 million (seven projects)—in financial terms, this is an increase of 83.2% over the five loans for $292.5 million (five projects) in 2004.

Of the 64 public and private sector projects and programs approved in 2005, 16 (25%) were categorized as targeted interventions and 48 (75%) as general interventions. By theme, sustainable economic growth was most prevalent and was associated with 53 projects. By sector, transport and communications received the largest share of lending (30%).

The 54 public and private sector projects represented a total investment of approximately $19.7 billion, of which $5.1 billion (26%) will be financed by ADB; $4.4 billion (23%) by governments and borrowers; $10.1 billion (51%) by cofinanciers, equity sponsors, and local finance institutions; and $50.7 million (0.3%) by project beneficiaries. Eight projects, amounting to $1.0 billion, were financed under the sector lending modality, compared with seven projects amounting to $1.3 billion in 2004.

The 10 policy-based programs2 approved in 2005 were valued at $1.14 billion, compared with 14 programs for $1.12 billion in 2004. Two program loans approved in 2005 were coupled with an investment project loan or a technical assistance loan.

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