ADB helps improve life of Asian-Pacific people
Total committed credits of the Asian Development Bank (ADB) exceeded 30 billion USD for the first time in its 50-year history last year as regional demand for development projects continues to grow.
Photo: tribune.com.pkThe report showed that ADB’s total lending in 2016, including co-financing, reached 31.70 billion USD, an 18 percent increase from 2015.
The total included 17.47 billion USD in approvals for loans and grants, 169 million USD for technical assistance, and 14.06 billion USD for co-financing, which rose by a record 31 percent over the previous year.
Disbursement also reached a new high of 12.26 billion USD in 2016.
“The increase in our development financing to Asia and the Pacific reflects our strong commitment to improving the lives of the people in the region,” said ADB President Takehiko Nakao. “As ADB celebrates 50 years of providing development assistance, we will strive even harder to meet the changing needs of our developing member countries.”
ADB estimates that the Asia-Pacific region requires 1.7 trillion USD a year to meet its infrastructure financing needs as a lack of infrastructure continues to limit economic growth, inhibit poverty reduction, and restrict improvements to quality of life.
There are still 330 million people living in absolute poverty across the region.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members - 48 from the region.- VNA
You should also see
PM visits police command centre, checks cultural centre construction in Phu Tho
Prime Minister Pham Minh Chinh visited the command and control centre of the Phu Tho police and examined the construction of this northern province’s house of culture and arts on April 18.
See more
World
Cambodia sees record number of tourists during traditional New Year holiday
Cambodia recorded almost 22 million domestic and international visitors travelling to different tourist destinations nationwide during the four-day traditional New Year holiday, from April 13 to 16.
World
Indonesia raises alert level to highest, warns of tsunami as volcano erupts
An airport in Madano city, the capital of Indonesia’s North Sulawesi province, has been ordered closed while hundreds of people evacuated and the alert level raised to the highest on April 18 due to large-scale volcanic eruptions of Mount Ruang.
World
ASEAN culture promoted in Mexico
Typical and diversified culture of ASEAN countries is being promoted at the ongoing ASEAN Week at the headquarters of Mexico’s Chamber of Deputies in Mexico city from April 15-19.
World
Thailand, New Zealand agree to elevate ties to strategic partnership
Thailand and New Zealand on April 17 agreed to upgrade bilateral ties to a strategic partnership by 2026, on the occasion of the 70th anniversary of bilateral diplomatic ties.
World
Japan’s 2024 Diplomatic Bluebook sketches out cooperation orientation with ASEAN
The Foreign Ministry of Japan on April 16 announced its 2024 Diplomatic Bluebook, which clarifies the country's orientations to expand relations with the Association of Southeast Asian Nations (ASEAN) in general and Vietnam in particular.
