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ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004 Ii ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004

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ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004 Ii ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004 AADB_FrontCoverDB_FrontCover CCMYK.aiMYK.ai 112/04/20052/04/2005 111:01:111:01:11 PPMM C M Y CM MY CY CMY K ANNUAL REPORT 2004 i ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004 ii ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004 © 2005 Asian Development Bank Every effort has been made to ensure the accuracy of the data used in this publication. Variations in data in Asian Development Bank (ADB) publications often result from different publication dates, although differences may also come from source and interpretation of data. ADB accepts no responsibility from any consequence of their use. The term “country,” as used in the context of ADB, refers to a member of ADB and does not imply any view on the part of ADB as to the member’s sovereignty or independent status. In this publication, $ refers to US dollars. Also available in CD-ROM and can be downloaded from ADB’s website at www.adb.org/publications/. ISSN 306-8370 Printed in Singapore. iii MESSAGE FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS Of the many momentous events of 2004, the most tragic despair with hope and confidence in the future while was the massive tsunami in the Indian Ocean in the final continuing to pursue our vision of freeing all of Asia and week of the year. The toll in lost lives and property was the Pacific from poverty. staggering and will never be fully recorded. Overnight more than 2 million were added to the 1.9 billion poor in the Immediately following the disaster, ADB and its partners, the region who live on less than $2 a day. Although our best World Bank, the Islamic Development Bank, the United efforts can never compensate the survivors for their pain, Nations, and the Japan Bank for International Cooperation, suffering, and loss of beloved family members and sent teams of experts to assess the extent of damage and to friends, the Asian Development Bank (ADB) and its develop plans for rehabilitation and reconstruction. ADB's partners are determined to replace devastation and financial contribution was initially set at $325 million. In iv ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004 the months following the tsunami, ADB substantially to the Board of Directors. The successful replenishment of increased its financial commitment and continued to the Asian Development Fund provided $7 billion in work with its partners to address recovery needs in India, concessional resources to assist the poorest developing Indonesia, Maldives, and Sri Lanka. ADB established the member countries reduce poverty over the next 4 years. Asian Tsunami Fund comprising $600 million in grant resources for reconstruction efforts and identified a further Other achievements of note included the adoption of the $175 million in funding from ongoing projects and knowledge management framework, the approval of a new programs. information systems and technology strategy, the review and revision of several other major strategies, the development The challenges facing ADB and its partners in these of a public communications policy, and the approval of a tsunami-affected countries are unprecedented. It is not new human resource strategy. simply a question of replacing infrastructure. Restoring the livelihoods of some of the world's poorest will be an equally These and many other initiatives help ensure that ADB is an complex task. effective, dynamic development partner that is better able to assist its developing members meet the challenges of an ADB's response to the tsunami was guided by the new ever-changing world. With the support and commitment of Disaster and Emergency Assistance Policy. Approved in 2004, the staff and that of all our members and partners, it is my it emphasizes that rehabilitation after disasters involves privilege to continue ADB's work in support of peace and more than infrastructure and stresses that capacity building prosperity for all in Asia and the Pacific. and institutional strength to address disasters both before and after they occur must be central to ADB's assistance. The tsunami response served to demonstrate ADB's capacity to act swiftly and effectively in times of crisis. This was also ASIAN DEVELOPMENT BANK evident in our response to the avian flu outbreak in MANILA partnership with the World Health Organization, the Food 12 April 2005 and Agriculture Organization and other agencies and in our Chairman of the Board of Governors Asian Development Bank proactive approach to post-conflict reconstruction activities in Afghanistan, Sri Lanka, and Timor-Leste. Dear Mr. Chairman, Several initiatives adopted in 2004 will allow ADB to In accordance with Article 39 of the Articles of Agreement of the continue to enhance its development effectiveness. ADB Asian Development Bank and Section 13 of its By-Laws, I submit refined its poverty reduction strategy to achieve greater to the Board of Governors Annual Report 2004, including a results. Integral to this is ADB's commitment to managing separate report on the activities of the Special Funds, which has for development results. The reform agenda inaugurated in been prepared under the direction of the Board of Directors. 2004 is grounded in the managing for development results Annual Report 2004 also includes the financial statements prescribed in Section 15 of the By-Laws. framework and commits ADB to key reform initiatives to reinforce its capabilities to help its developing member Sincerely, countries achieve results. HARUHIKO KURODA The year also saw notable progress in other areas. The new President and Chairman accountability mechanism became fully operational, and the Board of Directors Operations Evaluation Department began reporting directly v MEMBERS, CAPITAL STOCK, AND VOTING POWER (as of 31 December 2004) Year of Subscribed Voting Year of Subscribed Voting Membership Capitala Powerb Membership Capitala Powerb (% of total) (% of total) (% of total) (% of total) REGIONAL NONREGIONAL Afghanistan 1966 0.034 0.345 Austria 1966 0.344 0.593 Australia 1966 5.851 4.998 Belgium 1966 0.344 0.593 Azerbaijan 1999 0.450 0.677 Canada 1966 5.289 4.549 Bangladesh 1973 1.032 1.143 Denmark 1966 0.344 0.593 Bhutan 1982 0.006 0.322 Finland 1966 0.344 0.593 Cambodia 1966 0.050 0.357 France 1970 2.354 2.200 China, People's Germany 1966 4.374 3.817 Republic of 1986 6.516 5.530 Italy 1966 1.828 1.780 Cook Islands 1976 0.003 0.320 Luxembourg 2003 0.344 0.593 Fiji Islands 1970 0.069 0.372 The Netherlands 1966 1.037 1.147 Hong Kong, China 1969 0.551 0.758 Norway 1966 0.344 0.593 India 1966 6.402 5.439 Portugal 2002 0.344 0.593 Indonesia 1966 5.507 4.723 Spain 1986 0.344 0.593 Japan 1966 15.781 12.942 Sweden 1966 0.344 0.593 Kazakhstan 1994 0.816 0.970 Switzerland 1967 0.590 0.790 Kiribati 1974 0.004 0.321 Turkey 1991 0.344 0.593 Korea, Republic of 1966 5.094 4.393 United Kingdom 1966 2.065 1.970 Kyrgyz Republic 1994 0.302 0.559 United States 1966 15.781 12.942 Lao People’s Subtotal Nonregional 36.759 35.122 Democratic Republic 1966 0.014 0.329 Malaysia 1966 2.754 2.520 TOTAL 100.000 100.000 Maldives 1978 0.004 0.321 Marshall Islands 1990 0.003 0.320 Micronesia, Note: Figures may not add due to rounding. For other details, see tables on Federated States of 1990 0.004 0.321 pages 128 and 129. Mongolia 1991 0.015 0.330 a Subscribed capital refers to a member’s subscription to shares of the capital Myanmar 1973 0.551 0.758 stock of ADB. b The total voting power of each member consists of the sum of its basic votes Nauru 1991 0.004 0.321 and proportional votes. The basic votes of each member consist of such Nepal 1966 0.149 0.436 number of votes as results from the equal distribution among all members New Zealand 1966 1.553 1.560 of 20% of the aggregate sum of the basic votes and proportional votes of Pakistan 1966 2.203 2.080 all members. The number of proportional votes of each member is equal to the number of shares of the capital stock of ADB held by that member. Palau 2003 0.003 0.320 Papua New Guinea 1971 0.095 0.393 Philippines 1966 2.409 2.245 Samoa 1966 0.003 0.320 Singapore 1966 0.344 0.593 Solomon Islands 1973 0.007 0.323 Sri Lanka 1966 0.586 0.787 Taipei,China 1966 1.101 1.199 Tajikistan 1998 0.290 0.549 Thailand 1966 1.377 1.419 Timor-Leste 2002 0.010 0.325 Tonga 1972 0.004 0.321 Turkmenistan 2000 0.256 0.522 Tuvalu 1993 0.001 0.319 Uzbekistan 1995 0.681 0.862 Vanuatu 1981 0.007 0.323 Viet Nam 1966 0.345 0.594 Subtotal Regional 63.241 64.878 vi ASIAN DEVELOPMENT BANK ANNUAL REPORT 2004 THE RECORD (amounts in $ million) 1966–2004 2001 2002 2003 2004 OPERATIONAL ACTIVITIES TOTAL LENDING (amount) 110,298 5,339 a 5,658 6,085 5,293 Number of Projectsb 1,879 60 70 66 64 Ordinary Capital Resources (OCR) Loans (amount) 80,263 a 3,977 a 4,008 4,706 4,051 a Number of Loans 1,062 30 35 37 33 Disbursements (amount) 52,879 2,850 3,067 2,688 2,508 Asian Development Fund (ADF) Loans (amount) 30,035 1,361 1,650 1,379 1,242 Number of Loans 1,065 46 53 47 47 Disbursements (amount) 20,871 1,024 1,136 1,128 1,055 A.
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