Review of ADB's Program Lending Policies

Date: November 1999
ADB administration and governance; ADB funds and products


The Asian Development Bank introduced program lending in 1978. At that time, the instrument was intended to be used to finance imports of essential production inputs in shortfall that constrained capacity utilization.


  • Executive Summary
  • Context
  • Evolution of ADB's Program Lending Instrument
  • Emerging Trends in Program Lending
  • Policy-based Lending Instruments of Other IFIs
  • Adapting Policy-based Lending to Client's Changing Needs
  • Recommendation
  • Appendixes