 "asian development bank")
To meet Asia's development needs, multilateral funding agency Asian Development Bank (ADB) approved a record $27.15 billion in loans during 2015, up 19% from a year ago.
"The Asian Development Bank's operations, comprising approvals of loans and grants, technical assistance, and co-financing, reached an all-time high of $27.15 billion in 2015, an increase of about 19% over the $22.89 billion in 2014," ADB said in a provisional data release today.
During the year, the approval of loans and grants towards government (sovereign) as well as private sector reached a record $16.58 billion, up 23% from 2014.
Out of the $16.58 billion, sovereign loan and grant approvals increased by 21% to $13.95 billion.
Non-sovereign (or private sector) approvals made a big leap from $1.92 billion in 2014 to $2.63 billion in 2015, ADB said.
Besides, technical assistance by the Manila-headquartered funding agency amounted to $144 million and co-financing increased by 13% to a record $10.43 billion.
"Our record performance last year reflected strong and growing demand from the Asian and Pacific region," ADB President Takehiko Nakao said in the statement.
