A 28 percent surge in co-financing pushed development assistance from the Asian Development Bank to new heights in 2014.
In its latest annual report released ahead of the annual meeting in Baku, Azerbaijan, ADB notes that it approved $22.93 billion in development financing to Asia and the Pacific that year, up 8.4 percent from 2013’s $21 billion in net assistance to the region. Disbursements from the bank’s Ordinary Capital Resources, one of ADB’s two main financial instruments, meanwhile increased 17 percent year on year to $10.4 billion — its highest approved financing over the past five years.
“These numbers emphasize ADB’s push for improved project implementation and for greater private sector participation and co-financing schemes,” President Takehiko Nakao said in the report. “My resolve is that ADB remains proactive and responsive, striving for even greater achievements in poverty reduction as we approach 2020.”