THE Asian Development Bank (ADB) has approved loans totaling $10.1 billion last year, or a 36-percent increase over the total approved in 2006. It is the highest in the bank’s 41-year history.

The 2007 ADB Annual report also said that of the amount, the Philippines received $583.8 million and $11.7 million in grants and technical assistance. Pakistan was the largest borrower with $2 billion or 20 percent of the total loans.

“It was a very busy, productive, and exciting year for ADB. Our annual loan approvals grew from $7.4 billion in 2006 to $10.1 billion in 2007, clearly demonstrating the growing demand for ADB assistance in all parts of the region,” said bank president Haruhiko Kuroda in the report, which was released ahead of the ADB’s 41st Annual Meeting from May 3 to 6 in Madrid, Spain.

The sector with the biggest share of loans was transport and communications with $3.9 billion, or more than double the amount in 2006.

Loans with government guarantees totaled $9.2 billion for 61 projects. Of this amount, $7.4 billion came from the ordinary capital resources of ADB, and the balance sourced from the concessional Asian Development Fund (ADF).

ADB approved a further $672.7 million of grants in 2007, up 25 percent from the previous year. Of the total, $519.3 million came from ADF IX; $30 million from the Pakistan Earthquake Fund, and $123.4 million from external sources with full or partial administration by the ADB.

A total of 242 technical-assistance projects were approved worth $243.4 million, all of which were also provided as grants.

Recognizing the important role of the private sector in generating jobs and economic growth, the ADB approved $760.3 million for 19 nonsovereign loans to the private sector and $105 million for three nonsovereign loans to the public sector.

On project performance last year, ADB showed an improvement in disbursement to $6.8 billion, from $5.7 billion in 2006. Of the total, $5.2 billion were disbursements from ordinary capital resources while ADF disbursements accounted for the balance.  

ADB’s 2007 loans highest in 41 years

THE Asian Development Bank (ADB) has approved loans totaling $10.1 billion last year, or a 36-percent increase over the total approved in 2006. It is the highest in the bank’s 41-year history.

OMBUDSMAN Merceditas Gutierrez on Monday approved the filing of criminal and administrative charges against two city mayors and 19 other government officials in connection with the controversial lamppost project in Cebu, Mandaue and Lapu-Lapu cities.

THE Philippine Medical Association (PMA) has appealed to the health department to pursue the investigation into the rectal surgery scandal at the Vicente Sotto Memorial Medical Center (VSMMC) in Cebu City.

THE command judge advocate of the Army recommended on Monday the trial by general court martial of a division commander and a sergeant for violations of the Articles of War.

A TAIWANESE who allegedly runs a big-time drug trafficking operations in the country has been arrested by a joint team of drug-enforcement agents in Parańaque City over the weekend.

THE National Police chief, Director General Avelino Razon Jr., on Monday branded as a “demolition job” the claim that the police were behind the interview last week of a man claiming he was renegade Marine Capt. Nicanor Faeldon on television.

THE near encounter early this month between members of the Antieconomic Crimes Task Force (AECTF) of the National Police’s Criminal Investigation and Detection Group (CIDG) and members of the Presidential Antismuggling Group (PASG) will not stop the unit from running after smugglers.