OCO
(See
Office of Cofinancing Operations.)
OECD
Organisation for Economic Co-operation and Development
OED
(See
Operations Evaluation Department.)
OER
(See
Office of External Relations.)
Office of Administrative Services
(See
Departments and Offices.)
Office of Cofinancing Operations
(See
Departments and Offices.)
Office of Environment and Social Development
(See
Departments and Offices.)
Office of External Relations
(See
Departments and Offices.)
Office of Information Systems and Technology
(See
Departments and Offices.)
Office of Pacific Operations
(See
Departments and Offices.)
Office of the Auditor General
(See
Departments and Offices.)
Office of the General Counsel
(See
Departments and Offices.)
Office of the Secretary
(See
Departments and Offices.)
Offices of the Vice-Presidents
(See
Departments and Offices.)
OIST
(See
Office of Information Systems and Technology.)
OPEC
Organization of Petroleum Exporting Countries
Operation Objectives
ADB sets the following specific operation objectives for itself in each developing member country and targeted sectors:
policy support;
capacity building for development management;
creating/strengthening productive capacity, infrastructure, and services; and
regional cooperation.
(See also Corporate Planning; Law and Policy Reform; Loan Projects; Operations Evaluation; and Resident Mission Policy)
Operational Priorities
(See Asian Development Fund;
Long-Term Strategic Framework;
Planning Process; and Social Infrastructure)
Operational Strategy
(See Country Assistance Plan; Country Operational Strategy; Country Operational Strategy Study; Poverty Reduction Strategy; and Private Sector Policy)
Operations Evaluation
ADB undertakes operations evaluation of completed projects to provide accountability to its shareholders and distill lessons of experience with a view to improving the quality of design of future projects, and the quality and development impact of its lending to its developing member countries. The process seeks to identify the major lessons from earlier projects and to ensure that these lessons are taken into account in formulating policy and designing new projects. ADB has adopted a two-step evaluation system. The first step consists of preparing project/program completion reports (PCRs) for all completed projects/programs by the operational divisions responsible for their processing and implementation—the principle being that for most effective learning and impact on future operations, the initial evaluation should be carried out by those who have been directly involved.
To ensure an independent evaluation, the second step comprises preparing project/program performance audit reports (PPARs) by the Operations Evaluation Department. The PPAR evaluates the effectiveness of a project/program in achieving its objectives and provides an analytical commentary and supplement to the PCR. The PPAR audits the PCR for adequacy and integrity, and focuses on specific issues meriting closer attention.
Operations evaluation is undertaken not only through the preparation of PPARs, but also through evaluation studies that are aimed at more intensive analysis of particular issues or subjects of broader relevance to ADB’s operations, practices, and procedures. These studies comprise impact evaluation, reevaluation, special evaluation studies, and country assistance program evaluations. Impact evaluation provides insights into the extent to which the benefits of ADB lending in a particular sector have been sustained and spread. Reevaluation focuses in depth on project impact and sustainability about five years after the postevaluation stage. Special evaluation studies provide intensive analyses of particular issues or comprehensive reviews of evaluation findings in a specific country or sector. A country assistance program evaluation examines ADB’s strategy and program in a particular country over a number of years. Operations evaluation also covers ADB’s technical assistance operations.
(See also Operations Evaluation Department; Development Effectiveness Committee; Feedback; and Performance Evaluation and Development Impact)
Operations Evaluation Department
(See
Departments and Offices.)
Ordinary Capital Resources
ADB’s ordinary capital resources (OCR) consists of subscribed capital, reserves and surplus, and funds raised through borrowings. Loans from the OCR are generally made to developing member countries that have attained a higher level of economic development.
The effective and efficient management of the OCR is governed by five key sets of financial policies: capital resources management policies, borrowing policies and strategies, net income and management policies, liquidity policy, and loan products and credit risk policies.
(See also Asian Development Fund; Financial Management; Financial Resources; Graduation Policy; Lending; and Supplementary Loans)
Organization Structure
ADB’s organization structure consists of a Board of Governors, a Board of Directors, a President, three Vice-Presidents, Heads of Departments and Offices, and other officers and staff.
Each member nominates one Governor and an Alternate Governor. The Governor or Alternate Governor exercises the voting power of the member represented.
The Board of Directors, which is elected by the Board of Governors, comprises 12 Directors (each with an alternate)—eight representing regional countries and four representing nonregional countries.
The President is elected by the Board of Governors for a term of five years and may be reelected. The President is Chairperson of the Board of Directors and, under its direction, conducts ADB’s business.
Since its reorganization in 1995, ADB has emphasized a country focus in programming and implementing ADB operations.
(See also Departments and Offices; and Corporate Planning)
Orientation Program for DMC Officials
ADB holds at its headquarters in Manila an annual orientation program for senior officials of its developing member countries (DMCs) in Asia and the Pacific. The program’s objectives are to enable participants to learn about ADB’s changing role, operations, and policies; and to strengthen the relationship between ADB and its DMC counterpart agencies. It is an intensive three-week training program with the active participation of ADB’s staff from various departments and offices as speakers. After the program, the participants are expected to become ADB’s honorary ambassadors in their home countries.
Overdue and Nonperforming Loans
It is ADB’s policy that if a payment of principal or interest on a public sector loan is overdue by 30 days, no further loans to, or guaranteed by, the member will be presented to the Board of Directors for approval will any previously approved loan be signed unless payment of all outstanding arrears has been received. In addition, if such payment becomes 60 days overdue, disbursements on all its loans will be suspended until all its outstanding arrears have been paid. This overdue policy may be temporarily deferred when
payments are owed in currencies whose availability in the international financial markets is unduly constrained when payments fall due;
the overdue amount is less than US$50,000; and
significant partial payments of the overdue amount have been received by ADB, and/or the borrower has made acceptable arrangements to bring the outstanding amounts up-to-date.
It is also the policy of ADB to place in nonaccrual status loans for which principal, interest, or other charges are overdue by six months. Provisioning for possible loan losses is done when principal or interest is in arrears for one year for public sector loans made to or guaranteed by a member government and six months for private sector loans.
(See also Lending)
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