The Asian Development Bank (ADB) said Friday that its operations reached an all-time high of 27.15 billion U.S. dollars in 2015.
Last year's level of operations, consisting of approvals of loans and grants, technical assistance, and co-financing, was 19 percent higher than the 22.89 billion U.S. dollars in 2014.
"Our record performance last year reflected strong and growing demand from the Asian and Pacific region," ADB President Takehiko Nakao said. "Infrastructure and other development needs are huge and poverty remains pervasive despite the region's robust growth performance."
ADB said its approvals of loans and grants, sovereign (governments) and non-sovereign (primarily private sector), soared to a record 16.58 billion U.S. dollars, 23 percent increase from 2014.
Technical assistance amounted to 144 million U.S. dollars and co-financing increased by 13 percent to a record 10.43 billion U.S. dollars in 2015.
The Manila-based lending institution said that unless loans and grants are disbursed, they will have no impact on development.
In 2015, total disbursements of loans and grants reached a record 12.34 billion U.S. dollars, an increase of 21 percent over the previous year.
"As we approach our 50th anniversary this year, we are committed to scaling up our operations, and achieving poverty reduction and sustainable development in the region," Nakao said.
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