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    • Asian Development Bank

    ADB wants 'development bank of choice' tag

    The Asian Development Bank reported record numbers in its 2015 operations, with over $27 billion in disbursements. Amid the growing donor landscape in the Asia-Pacific region, the Manila-based institution wants to be the "development bank of choice."

    By Lean Alfred Santos // 25 January 2016

    Following a year of commitments and international agreements, the Asian Development Bank has announced that its operations and approvals have reached an all-time high of $27.15 billion in the past 12 months — an increase of around 19 percent from the $22.89 billion recorded in 2014.

    The increase meant that in 2015, the bank was able to finance and implement more development projects in the region than ever before. And the provisional numbers, according to the bank, back the statement up: loans and grants to sovereign and nonsovereign clients grew by 23 percent to $16.58 billion (another record), while technical assistance and cofinancing were estimated at $144 million and $10.43 billion, respectively.

    Indu Bhushan, director general of the strategy and policy department of the Manila-based institution, shared that given the growing stature of the countries in the region — and with it their demand for growth and development — it was natural for ADB to grow its operational numbers to help address such needs.

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    About the author

    • Lean Alfred Santos

      Lean Alfred Santos@DevexLeanAS

      Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.

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