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Board of Directors' Report (1997 Annual Report)
| Date: | April 1998 |
| Type: | Board Documents |
| Subject: | ADB administration and governance |
| Series: | Board of Directors' Report |
Description
In 1997, the Board met formally on 48 occasions (including executive sessions) and approved total lending of $9,414 million for 75 projects. This amount represents loans of $7,794.4 million from ordinary capital resources (OCR) and $1,619.6 million from the Asian Development Fund (ADF). Equity investments totaled $74.3 million. Government-guaranteed loans were approved for 73 projects, with an average project size of approximately $61 million over the total loan portfolio. (For purposes of comparability with prior years’ analyses, the average project size excludes from the calculation the Financial Sector Program loan and institutional strengthening technical assistance loan to the Republic of Korea totaling $4.015 billion, as this amount represents 43 percent of total Bank lending for 1997.)
Twenty-four countries received Bank loans in 1997, including the Republic of Korea which returned as a borrower after ten years’ absence.
In addition to loans, the Board, either directly or through the delegated authority vested in the President by the Board, approved 298 technical assistance grants totaling $162.5 million.
