quarterly portfolio update as of 31 december 2015 ... march 2016 quarterly portfolio update as of 31

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  • March 2016

    Quarterly Portfolio Update as of 31 December 2015

    This document is being disclosed to the public in accordance with ADB's Public Communications Policy 2011.

  • In preparing our country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

  • CONTENTS Page

    Sovereign Loan and Grant Portfolio 1

    ADB Sovereign Portfolio Management Indicators 2

    Sovereign Loans Approved 3

    Grants Approved 6

    Technical Assistance Grants Approved 8

    Loans Not Yet Signed 16

    Grants Not Yet Signed 18

    Loans That Became Effective 19

    Grants That Became Effective 22

    Loans Awaiting Effectiveness 24

    Grants Awaiting Effectiveness 27

    Loans Closed 28

    Loans Closed in the Previous Year but Reported Only in the Current Year 31

    Grants Closed 32

    TAs Active 90 Days after Completion Date 34

    Project Loan Contract Awards/Commitments 35

    Project Grant Contract Awards 36

    Project and Policy-Based Loan Disbursements 37

    Project Loan Disbursements 38

    Policy-Based Loan Disbursements 39

    Project and Policy-Based Grant Disbursements 40

    Project Grant Disbursements 41

    Policy-Based Grant Disbursements 42

    Status of Policy-Based Loan Tranche Releases 43

    Status of Policy-Based Grant Tranche Releases 46

    Loans and Grants with Cost Overruns 47

    Cancellation of Loan/Grant Proceeds 49

    Portfolio Ratings 54

    Portfolio Ratings by Indicator 55

    Loan Projects with Changes 56

    Grant Projects with Changes 60

    TAs with Major Change in Scope, Implementation Arrangements, or Both 62

    Multitranche Financing Facility with Changes 63

    2015 Project Completion Report (PCR/XARR) Program 64

    2015 Technical Assistance Completion (TCR) Program 65

    Project Administration Missions 67

    Technical Assistance Administration Missions 68

  • ods

    1 Excludes partially administered grants (31, 32, 93[UK], 103, 145, 192, 273, 342, 358).

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

    a Exclude (i) cofinanced loans; (ii) loan-related grants; and (iii) TAs.

    Note: Totals may not add up due to rounding.

    SOVEREIGN LOAN AND GRANT PORTFOLIO a

    (as of 31 December 2015)

    CWRD

    $15,263

    23%

    EARD

    $12,087

    18%

    PARD

    $1,379

    2%

    SARD

    $22,198

    33%

    SERD

    $15,748

    24%

    Active Loans

    (amounts in million)

    Total: $66,675

    CWRD

    $4,063

    62%

    EARD

    $151

    2%

    OGC

    $2

    0.03%

    PARD

    $515

    8%

    SARD

    $840

    13%

    SERD

    $1,026

    16%

    Active Grants

    (amounts in million)

    Total: $6,596

    0

    2,000

    4,000

    6,000

    8,000

    10,000

    12,000

    Actual

    $ m

    il li

    o n

    Historical Loan Disbursements Performance

    (2011 - 2015)

    2011 2012 2013 2014 2015

    0

    1,000

    2,000

    3,000

    4,000

    5,000

    6,000

    7,000

    8,000

    Actual

    $ m

    il li

    o n

    Historical Loan Contract Awards/Commitments Performance

    (without Policy-Based Loans, 2011 - 2015)

    2011 2012 2013 2014 2015

    1,600

    3,468

    5,346

    8,204

    1,586

    3,656

    5,372

    8,147

    0

    1,000

    2,000

    3,000

    4,000

    5,000

    6,000

    7,000

    8,000

    9,000

    Qtr1 Qtr2 Qtr3 Qtr4

    $ m

    il li

    o n

    2015 Contract Awards and Commitments (without Policy-Based Loans and Grants)

    Projections Actual

    1,527

    2,627

    4,567

    10,644

    1,040 2,459

    4,315

    10,952

    -

    2,000

    4,000

    6,000

    8,000

    10,000

    12,000

    Qtr1 Qtr2 Qtr3 Qtr4

    $ m

    il li

    o n

    2015 Disbursement Performance1

    (with Policy-Based Loans and Grants)

    Projections Actual

    5 6 5

    8

    17

    1

    12%

    14%

    12%

    19%

    40%

    2% 0%

    5%

    10%

    15%

    20%

    25%

    30%

    35%

    40%

    45%

    0

    2

    4

    6

    8

    10

    12

    14

    16

    18

    20

    22

    24

    CWRD SARD EARD PARD SERD OGC

    P e

    rc e

    n ta

    g e

    N u

    m b

    e r

    Actual Problem Projects

    ADB: 42 projects

    78% 83%

    74% 73% 68%

    76%

    18% 15%

    21% 13% 20%

    17%

    4% 3% 5% 15% 12%

    7%

    0%

    10%

    20%

    30%

    40%

    50%

    60%

    70%

    80%

    90%

    100%

    CWRD SARD EARD PARD SERD ADB

    Portfolio Performance Ratings

    On Track Potential Problem Actual Problem

    1

  • I. Loans

    A. Loan Portfolio 1 Active Loan Portfolio No.| $mn 536 | 52,130.0 573 | 55,317.2 594 | 57,358.5 624 | 60,333.6 657 | 66,675.1

    (a) Project Loans No.| $mn 488 | 47,302.3 523 | 50,074.6 539 | 52,319.0 572 | 54,942.3 593 | 56,976.9

    (b) Policy-Based Loans No.| $mn 27 | 2,993.4 32 | 3,743.9 31 | 2,690.0 26 | 2,744.7 29 | 5,418.3

    (c) Financial Intermediation Loans No.| $mn 16 | 1,487.9 15 | 1,194.8 20 | 1,863.6 16 | 1,464.7 19 | 2,039.2

    (d) Combined Project and Financial Intermediation Loans No.| $mn 5 | 346.4 3 | 303.9 4 | 485.9 4 | 485.4 6 | 435.0

    (e) Results-Based Lending No.| $mn 6 | 696.5 10 | 1,805.6

    2 Average Age of the Active Loan Portfolio Years 3.4 3.3 3.3 3.4 3.5

    B. Start-Up Compliance

    1 Loans Approved During the Year a No. | $mn 99 | 11,005.5 111 | 10,610.7 102 | 11,768.1 108 | 11,205.0 103 | 13,304.1

    2 Loans Not Yet Signed No. 58 74 59 54 43

    3 Loans Awaiting Effectiveness No. 23 19 25 26 38

    4 Average Time from Approval to Signing Months 4.0 3.8 3.7 3.5 3.5

    5 Months 3.5 3.4 3.4 3.4 3.4

    6 No.| % 236 | 51.9 243 | 50.6 250 | 49.0 252 | 46.3 260 | 45.1

    C. Financial Performance

    1 Contract/Commitment Achievement (without policy-based loans) $mn 6,688.6 6,587.8 5,777.2 7,591.7 7,450.3

    2 Contract/Commitment Ratio b (without policy-based loans) % 25.6 24.2 19.7 24.3 22.9

    3 Disbursement Achievement $mn 7,006.6 7,497.6 7,152.0 8,483.4 10,270.2

    4 Disbursement Ratio c % 23.8 22.9 20.3 22.6 26.4

    5 Imprest Fund Turnover Ratio d % 1.5 1.1 1.2 1.3 1.1

    6 Loan Service Payments $mn 4,490.5 5,007.9 7,269.7 5,782.3 5,025.4

    7 Net Resource Transfer $mn 2,516.1 2,489.7 (116.7) 2,701.0 5,244.9

    D. Portfolio Ratings e

    1 On Track No.| % 411 | 73.5 397 | 68.6 463 | 79.0 478 | 80.2 464 | 75.8

    2 Potential Problem No.| % 97 | 17.4 117 | 20.2 80 | 13.7 88 | 14.8 106 | 17.3

    3 Actual Problem No.| % 51 | 9.1 65 | 11.2 43 | 7.3 30 | 5.0 42 | 6.9

    E. Portfolio Supervision

    1 Average Supervision Intensity (staff-days/project) f days 23.6 23.4 21.8 20.6 21.4

    2 Loans with Extensions No. 147 161 169 181 182

    3 Loan Cancellations $mn 754.1 468.7 1,155.0 732.9 700.4

    II. Grants g

    A. Grant Portfolio 1 Active Grant Portfolio No.| $mn 291 | 4,829.5 318 | 5,527.3 316 | 5,926.4 312 | 6,151.6 318 | 6,595.5

    (a) Project Grants No.| $mn 279 | 4,489.5 304 | 5,212.6 304 | 5,740.2 305 | 6,019.2 314 | 6,507.1

    (b) Policy-Based Grants No.| $mn 12 | 340.0 14 | 314.7 12 | 186.3 7 | 132.5 4 | 88.4

    2 Average Age of the Active Grant Portfolio Years 2.9 3.0 3.2 3.5 3.5

    B. Start-Up Compliance

    1 Grants Approved During the Year a k No. | $mn 46 | 844.1 66 | 969.8 54 | 1,323.2 48 | 632.3 57 | 898.0

    2 Grants Not Yet

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