The Asian Development Bank (ADB) approved loans worth of 10.1 billion U.S. dollars to assist the region's development, the highest amount in the bank's 41 year history, it said in a report Monday.
"Our annual loan approvals grew from 7.4 billion U.S. dollars in 2006 to 10.1 billion dollars in 2007, clearly demonstrating the growing demand for ADB assistance in all parts of the region," said ADB President Haruhiko Kuroda in the bank's annual report.
Pakistan was the largest borrower with 2.0 billion U.S. dollars, or 20 percent of the total loans ADB extended last year.
ADB said it approved 760.3 million U.S. dollars for 19 non-sovereign loans to the private sector where more jobs and economic growth were generated in recent years.
ADB said it also approved 672.7 million U.S. dollars of assistance in grants in 2007, up a quarter from the previous year, as well as 242 technical assistance projects worth 243.4 million U.S. dollars.
On project performance last year, ADB showed an improvement in disbursement to 6.8 billion U.S. dollars from 5.7 billion U.S. dollars in 2006.
Source: Xinhua
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