The Asian Development Bank (ADB) is a multilateral development finance institution
founded in 1966 to promote social and economic progress in its developing member
countries in Asia and the Pacific (see ADB’s website: http://www.adb.org/about/main).
2.2 ADB’s principal functions are
- lending funds,
- providing grants,
- providing technical assistance and advisory services,
- promoting investments for development purposes, and
- assisting in coordinating the development policies and plans of developing
member countries.
Inquiries
2.3 Loan disbursement is handled by the Loan Administration Division of the Controller’s
Department.
2.4 For loan service payments and billing matters, inquiries are addressed to the
Accounting Division of the Controller’s Department.
Loan or Grant Regulations
3.4 The regulations4
further set out conditions for the use of loan or grant proceeds
financed by ADB, or proceeds administered by ADB.
5
These documents are expressly
incorporated in the associated loan agreement, guarantee agreement, or grant
agreement. If any provision of a loan agreement, guarantee agreement, or grant
agreement is inconsistent with a provision of these regulations, the provision of the
loan agreement, guarantee agreement, or grant agreement governs.
Loan Documents
3.5 Loan documents
6
include the following documents and agreements:
ȕ Thereport and recommendation of the President to the Board of Directors
(RRP) presents the project proposal for consideration by the ADB Board.
ȕ Theproject administration manual (PAM)
7
includes all the information and
schedules describing project implementation and project readiness filters
covering major preproject implementation actions (e.g., government approvals,
procurement, and resettlement) to ensure a rapid start-up and enable early
disbursement. It is mandatory
8
that the PAM be referenced in the RRP and in
the loan (or facility) agreements, is presented as a stand-alone linked document
to the RRP, and serves as the main document describing implementation details.
The PAM is prepared in the course of loan processing and initially agreed with
the government at the loan fact-finding stage. At loan negotiations, the borrower
and ADB shall review and confirm the PAM agreed during loan fact-finding to
ensure consistency with the loan agreement, and such confirmation shall be
reflected in the minutes of the loan negotiations. The detailed cost estimate by
financier (one schedule included in the PAM) is prepared based on Section J6 of
the ADB Operations Manual (Appendix 3A).
9
Related illustrative tables are also
provided in this handbook (Appendix 3B).

2011 $2,611,718 $1,954,445 $4,566,163

10:52 AM    



Chapter 1: World Overview
World Overview
WORLD LIFE AND NONLIFE INSURANCE IN 2013
Outside the United States, the insurance industryis divided into life and nonlife, or general insurance, rather than
life/health and property/casualty. World insurance premiums rose 1.4 percent in 2013, adjusted for inflation, following
a 2.5 percent inflation-adjusted increase in 2012, according toSwiss Re’s latest study of world insurance. Nonlife
premiums rose 2.3 percent in 2013, adjusted for inflation, following 2.7 percent growth in 2012. Life insurance
premiums grew by 0.7 percent after inflation in 2013, down from2.3 percent inflation-adjusted growth in 2012.
In 2013 life and nonlife insurance premiums (excluding cross-border business) accounted for 6.3 percent of world
gross domestic product (GDP). Premiums accounted for 17.6 percent of GDP in Taiwan, the highest share in the
Swiss Re study, followed by 15.4 percent in South Africa, 13.2 percent in Hong Kong, 12.6 percent in the Netherlands
and 11.9 percent in South Korea. Premiums represented 7.5 percent of GDP in the United States, the 10th highest
share in the study.
WORLD LIFE AND NONLIFE INSURANCE
PREMIUMS, 2011-2013 (1)
(Direct premiums written, U.S. $ millions)
Year  Life  Nonlife (2)  Total
2011  $2,611,718  $1,954,445 $4,566,163
2012  2,630,274  1,968,677  4,598,951
2013  2,608,091  2,032,850  4,640,941
(1) Before reinsurance transactions.
(2) Includes accident and health insurance.
Source: Swiss Re, sigma, No. 3/2014.