The Asian Development Bank posted a record 2015 in lending and financing, solidifying its status as the Asia-Pacific region's most influential development institution.
Overall operations and approved lending of the bank grew 18.5 percent in the last 12 months to $27.17 million in net development assistance, up from $22.93 billion in 2014. The rise follows growing demands for infrastructure and development financing in the region, according to the bank’s latest annual report, released ahead of the annual meeting in Frankfurt, Germany.
“Our record performance in 2015 reflects a growing demand from the Asia and Pacific region for ADB’s development assistance,” Takehiko Nakao, president of the Manila-based institution, said in the annual report. “Poverty persists despite the region’s impressive growth, and infrastructure and other development needs are monumental.”
About the author
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.
