The past year has unfolded with significant progress across the World Intellectual Property Organization, marked by growing engagement from Member States and a robust demand from the enterprise sector for the services offered through our Global IP Systems. Our staff's professionalism and unwavering commitment have been instrumental in these achievements, culminating in a year of positive results.
Financially, the Organization stands on firm ground. The 2014-2015 biennium concluded with an outstanding surplus of CHF 70.3 million, and we have continued this positive trajectory into the first year of the current 2016-2017 biennium, recording an overall surplus of CHF 32 million in 2016 alone. This healthy financial position is a direct result of the sustained strong demand for our Global IP Systems and the diligent containment of expenditure, partly through enhanced productivity from our ICT systems. Our net assets have grown, reaching CHF 311.3 million as of December 31, 2016, and our external auditors have delivered an unqualified opinion on the financial statements for the year.
The Global IP Systems have performed exceptionally well. The Patent Cooperation Treaty (PCT) saw a robust 7.3% growth in international patent applications in 2016, marking the largest increase since 2011. Notably, Asia contributed significantly, accounting for 47.4% of all PCT applications, signaling a clear shift in global innovation. The Madrid System for the International Registration of Marks and the Hague System for the International Registration of Designs also continued their expansion, both in terms of geographical coverage and utilization. The Hague System, in particular, experienced rapid growth due to recent accessions by several major economies.
A landmark achievement this year was the entry into force of the Marrakesh Treaty to Facilitate Access to Published Works for Persons Who Are Blind, Visually Impaired, or Otherwise Print Disabled, on September 30, 2016. This treaty, a beacon of hope for accessibility, is being practically supported by the Accessible Books Consortium (ABC). The ABC has already facilitated the loan of accessible books to 100,000 visually impaired individuals through its 19 participating libraries across 16 countries, offering some 319,000 titles in over 76 languages. This initiative has notably saved participating libraries significant production costs.
Beyond these successes, our global databases and IT platforms have been further enriched, attracting an increasing number of participating offices and users. We also unveiled a groundbreaking, AI-based translation tool specifically for patent documents, aiming to provide innovators worldwide with the highest quality service for accessing information on new technologies. Our capacity-building programs continue to be in high demand, and the Global Innovation Index, jointly produced by WIPO, has garnered worldwide recognition. Furthermore, the WIPO GREEN initiative has experienced a year of solid growth, becoming a crucial platform for green technologies and facilitating connections between those in need of solutions and those who can provide them.
Looking ahead, significant challenges remain, particularly in advancing our normative agenda. Discussions continue on the proposed Design Law Treaty, with a strong push for Member States to finalize negotiations. Long-standing items such as traditional knowledge and broadcasting also require concentrated effort and a spirit of compromise to reach a definitive resolution. The global economic outlook remains uncertain, presenting challenges in treasury management due to negative interest rates and exchange rate exposure. Increased expenditure in information technology, including cybersecurity, is also anticipated to maintain the competitiveness and security of our revenue-generating Global IP Systems. The inherent complexities of intellectual property and multilateralism in an increasingly interconnected world pose a constant challenge, demanding a forward-looking approach to ensure the IP ecosystem continues to foster innovation and creativity for a better future.
