South Asia
Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka
After a successful 2007, ADB's performance in 2008 was exceptional. ADB further strengthened portfolio management, boosted lending and nonlending operations, and provided innovative and flexible financing to the region.
Overview
The South Asia Department led in mainstreaming the managing for development results approach in its operations and building a strong operational knowledge base in South Asia. ADB's nonsovereign approvals in the region totaled $1.2 billion plus an estimated portion of $25.0 million from the Equity Investment in Asian Clean Energy Private Equity Funds, a regional project (Statistical Annex 10).
Regional Cooperation
Regional cooperation initiatives, including the South Asian Association for Regional Cooperation (SAARC) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), received sustained support from ADB. As recommended in the SAARC Regional Multimodal Transport Study, model cross-border transport and transit agreements were developed with ADB's help. ADB also provided technical assistance to support the SAARC energy sector dialogue, the implementation of key resolutions of SAARC Summit, and the activities of SAARC Secretariat. The second BIMSTEC summit acknowledged the ADB-supported BIMSTEC Transport Infrastructure and Logistics Study as an important first step in identifying connectivity bottlenecks and suggesting solutions.
The department's regional program centered on preparing two flagship projects in transport and trade, and infrastructure for regional tourism. ADB supported knowledge management activities such as networking among policy research institutes and think tanks, particularly in regional cooperation and integration. With the United Nations Conference on Trade and Development (UNCTAD), ADB did a study to quantify the benefits of economic cooperation in South Asia. ADB carried out regional studies on trade in services, key industries, and investment.
The Regional Cooperation Operations Business Plan for South Asia (2009-2010), with $11.7 million in technical assistance and $80.5 million in multi country lending projects, was finalized in August.
Portfolio Management
Major efforts in project administration and portfolio management paid dividends in 2008, as key portfolio indicators significantly improved. Disbursements reached a record-breaking $2.4 billion, 25% better than in 2007. Of this amount, project disbursements accounted for $2.0 billion, 33% more than in 2007. Contract awards and commitments were an unprecedented $2.4 billion, and projects at risk dropped to an all-time low of 7% from 10% in 2007 (Table 27). |
HIGHLIGHTS
- Continuous engagement with borrowers and executing agencies, yielding a record-breaking $2.4 billion in disbursements, with contract awards exceeding projections and projects at risk below the ADB-wide average
- New lending of $3.7 billion surpassed the previous record and included many new lending modalities and approaches
- Substantial assistance extended to the Government of Bangladesh to help ease the food crisis
- Managing for development results enhanced, operationalized, and mainstreamed, and the development effectiveness of the South Asia Department's operations increased
- Significant progress made in preparing the South Asia Regional Climate Change Implementation Plan, the basis for interventions to mitigate and adapt to climate change
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Disbursements reached a record-breaking $2.4 billion, 25% better than in 2007. Of this amount, project disbursements accounted for $2.0 billion, 33% more than in 2007 |
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