ADB ramps up activity as new lenders enter the fray

Tokyo

THE operations of the Asian Development Bank (ADB) in Asia and the Pacific hit an all-time high of US$31.5 billion last year, a 17 per cent increase from the US$26.9 billion in the year before.

The Manila-based institution, releasing preliminary figures on Monday, said in a statement: "Approvals of ADB loans, grants, technical assistance and co-financing have been growing steadily over the years as development needs in the region continue to rise."