The Loan Disbursement Handbook is a compilation of Asian Development Bank (ADB) disbursement policies, guidelines, procedures, and practices. The handbook will serve as a useful reference guide for developing member country borrowers and officials, project staff from executing agencies and project management units, as well as ADB staff in designing and operating an efficient disbursement operation that will support project implementation.

The four pillars of an efficient disbursement operation are (i) funds flow structure, (ii) disbursement arrangement, (iii) staff capacity and systems, and (iv) internal controls. A good understanding of ADB's disbursement policies, guidelines, procedures, and practices is instrumental for building these pillars. The handbook endeavors to complement this need and thereby support project implementation.

The handbook applies to loan and grant investment projects funded by ADB, and provides a separate chapter for disbursement of policy-based loans and grants funded by ADB.

The handbook supersedes all previous editions and takes effect immediately; however, it does not override the specific arrangements stipulated in loan, grant, and financing agreements and related project administration manuals. The handbook is available electronically from the ADB website ( loan-disbursement-handbook) and the Loan Financial Information Services website ( The Controller's Department will update the handbook as deemed necessary and publish the revised version on the aforementioned websites. The handbook is designed to allow for updates by chapter, with the date of issuance indicated at the top of each page. The reader is advised to visit these sites regularly to ensure they have the latest version of the handbook.


1.1 This Loan Disbursement Handbook on the disbursement policies and procedures of the Asian Development Bank (ADB) primarily guide borrowers and their executing agencies in withdrawing loan proceeds from the loan account.

Scope and Applicability

1.2 The principles and procedures described in this handbook apply equally to ADB's loan- and grant-funded investment projects and policy-based loans and grants, in whole or in part from ADB's ordinary capital resources, ADB's special funds resources, and external funding sources that are administered by ADB. Chapter 13 of the handbook covers ADB's private sector (nonsovereign) operations. The handbook does not apply to disbursements under technical assistance.

1.3 The handbook should be used in conjunction with the loan documents (Section 3.5) and relevant ADB regulations and guidelines.

1.4 This handbook supersedes all previous handbooks and guidelines on loan disbursement.


1.5 For further information, visit the ADB website (, inquire to the following address, or contact ADB's resident or regional missions or representative ofices.


Tel: (632) 632-4444

Asian Development Bank Telex: 42205 ADB PM (ITT)

6 ADB Avenue, Mandaluyong City Philippines Fax: (632) 636-2586/636-2595 1550 Metro Manila, Philippines E-mail: This email address is being protected from spam bots, you need Javascript enabled to view it



2.1 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:

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.


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.

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