India, Pakistan top ADB borrowing list in 2002

The Asian Development Bank said on Friday that India, Pakistan and China had borrowed the lion's share of the $5.68 billion it lent to 21 nations last year.

The Manila-based institution said in a statement the total amount of loans in 2002 had been 6.3 per cent higher than the $5.34 billion of 2001 and that 42 per cent of public-sector lending had been earmarked for projects aimed at reducing poverty.

India soaked up $1.18 billion in ADB loans last year, followed closely by neighbouring Pakistan at $1.14 billion. The next most hefty borrowers were China at $868 million, Indonesia at $767 million and Vietnam at $315 million.

In 2001, the top borrowers were India, China, Pakistan, Indonesia and Bangladesh. Vietnam was sixth.

The ADB said seven countries -- Bangladesh, Sri Lanka, Uzbekistan, Afghanistan, Cambodia, Laos and Nepal -- had borrowed between $60 million and $300 million in 2002.

Nine other nations accounted for 2.8 per cent of the lending and $150 million, or 2.6 per cent, was allocated to three regional projects.

Beyond the loans programme, 324 technical assistance operations were valued at $179 million and 27 projects received $102.7 million in grant financing.

By sector, transport and communications was the largest target for ADB funding, followed by energy and finance.

The ADB, set up in 1966 as a development finance institution dedicated to reducing poverty in Asia, said the official lending figures will be published in its annual report due to be released on April 24.

Full details of the numbers can be found at www.adb.org.