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p. 29 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

Resource Transfers

While 2005 shows improvement in disbursement, lending to clients over the past 10 years was stagnant. In discussions with borrowers during the year, countries highlighted the need for ADB to expand support for poverty reduction programs. The Board discussed a range of new financial mechanisms and business procedure reforms under the Innovation and Efficiency Initiative to respond to client demands.

The net transfer of resources to ADB from its DMCs decreased to $0.4 billion in 2005, compared with $2.1 billion in 2004. There was a net inflow of $1.0 billion ($2.6 billion in 2004) to ADB from OCR borrowers/investors, mainly from full repayment of the financial sector program loan to the Republic of Korea of $1.7 billion and prepayments of $0.6 billion in 2005 ($2.8 billion in 2004) of OCR loans. However, net transfers from ADB to ADF borrowers increased from $468.5 million in 2004 to $612.2 million in 2005.

Loan disbursements in 2005 totaled $4.7 billion comprising 116.8% of the target for the year. Of the total, OCR disbursements were $3.5 billion or 74% and ADF disbursements were $1.2 billion or 26%.

Loan service payments reached $5.2 billion in 2005, compared with $5.6 billion in 2004. The decrease was mainly because of lower prepayments of $0.6 billion ($2.8 billion in 2004). In 2005, the four largest net resource transfers from ADB were to PRC, India, Pakistan, and Viet Nam.

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