The ASIAN DEVELOPMENT BANK (ADB) was founded August 22, 1966 to facilitated the economical development in Asia-Pacific. It's 66 country members including Philippines, 48 within the Asian continent and 19 of this members are the outside of Asia. It has 2500+ staffs. It's headquarters was located in Mandaluyong City, Philippines. The incumbent president for this is Haruhiko Kuroda, a Japanese.
HISTORY:
1962-1972
ADB was originally conceived by some influential Japanese who formulated a "private plan" for a regional development bank in 1962, which was later endorsed by the government. The Japanese felt that its interest in Asia was not served by the World Bank and wanted to establish a bank in which Japan was institutionally advantaged. Once the ADB was founded in 1966, Japan took a prominent position in the bank; it received the presidency and some other crucial "reserve positions" such as the director of the administration department. By the end of 1972, Japan contributed $173.7 million (22.6% of the total) to the ordinary capital resources and $122.6 million (59.6% of the total) to the special funds. In contrast, the United States contributed only $1.25 million for the special fund.[2]
The ADB served Japan's economic interests because its loans went largely to Indonesia, Thailand, Malaysia, South Korea and thePhilippines, the countries with which Japan had crucial trading ties; these nations accounted for 78.48% of the total ADB loans in 1967-72. Moreover, Japan received tangible benefits, 41.67% of the total procurements in 1967-76. Japan tied its special funds contributions to its preferred sectors and regions and procurements of its goods and services, as reflected in its $100 million donation for the Agricultural Special Fund in April 1968.[2]
Takeshi Watanabe served as the first ADB president from 1966 to 1972.
[edit]1972-1986
Japan's share of cumulative contributions increased from 30.4 percent in 1972 to 35.5 percent in 1981 and 41.9 percent in 1986. In addition, Japan was a crucial source of ADB borrowing, 29.4 percent (out of $6,729.1 million) in 1973-86, compared to 45.1 percent from Europe and 12.9 percent from the United States. Japanese presidents Inoue Shiro (1972–76) and Yoshida Taroichi (1976–81) took the spotlight. Fujioka Masao, the fourth president (1981–90), adopted an assertive leadership style. He announced an ambitious plan to expand the ADB into a high-impact development agency. His plan and banking philosophy led to increasing friction with the U.S. directors, with open criticism from the Americans at the 1985 annual meeting.[2]
During this period there was a strong parallel institutional tie between the ADB and the Japanese Ministry of Finance, particularly the International Finance Bureau (IFB).
[edit]Since 1986
Its share of cumulative contributions increased from 41.9 percent in 1986 to 50.0 per- cent in 1993. In addition, Japan has been a crucial lender to the ADB, 30.4 percent of the total in 1987-93, compared to 39.8 percent from Europe and 11.7 percent from the United States. However, different from the previous period, Japan has become more assertive since the mid 1980s. Japan's plan was to use the ADB as a conduit for recycling its huge surplus capital and a "catalyst" for attracting private Japanese capital to the region. After the 1985 Plaza Accord, Japanese manufacturers were pushed by high yen to move to Southeast Asia. The ADB played a role in channeling Japanese private capital to Asia by improving local infrastructure.[2] The ADB also committed itself to increasing loans for social issues such as education, health and population, urban development and environment, to 40 percent of its total loans from around 30 percent at the time.
PROJECTS TO BE DONE: For past 6 years
- built or upgraded over 135,000 classrooms;
- trained over 660,000 teachers;
- built or upgraded over 44,300 kilometers (km) of roads;
- installed or rehabilitated over 17,800 km of water supply pipes;
- upgraded sanitation in over 269,000 households;
- improved over 1.8 million hectares of land as a result of irrigation, drainage, and flood management initiatives;
- installed 300 megawatts of new generating capacity, and built or upgraded more than 34,127 kilometers of transmission and distribution lines; and
- enabled new microfinance accounts and end borrowers to grow to over 2.7 million.
DID YOU KNOW THAT....
- ADB aims for an Asia and Pacific free from poverty. Over half the population remains poor, with one child in 20 dying before the age of 5, over 250,000 women dying annually from childbirth and pregnancy, over five million living with HIV AIDS and 3/5 of global TB cases found in the region.
- With $21.72 billion in approved financing in 2011, more than 2,900 employees from 59 countries, ADB in partnership with member governments, independent specialists and other financial institutions is focused on delivering projects that create economic and development impact.
- Economists, sociologists, engineers, gender experts and environmental scientists are amongst the hundreds of professions at the bank working together to reduce poverty.
- Environmental sustainability is a core strategy of ADB’s work as it is the poor that are most severely affected. Environmental damage and resource depletion are already impeding the region’s development and reducing the quality of life.
- ADB is active in creating the framework for the private sector to be involved in investing in new projects that underpin development and improve the lives of the 1.8 billion people in the region who live on less than $2 a day.
- Since 2000, the Asian Development Fund has transformed the region with the construction of thousands of schools, bridges, health clinics and roads, providing opportunities for people to lift themselves out of poverty.
COUNTRY MEMBERS:
EVENTS:
Annual Meeting Location and Schedule
The 45th Annual Meeting of the Board of Governors of ADB will be held at the Philippine International Convention Center (PICC) in Manila, Philippines, from Wednesday through Saturday, 2-5 May 2012.
ADB will establish offices at the PICC during the Annual Meeting. The offices and other meeting services will be open on 2-5 May. Room and telephone numbers will be in the meeting Handbook and Directory that will be provided in the participants' registration envelope.
The Opening Session will take place at the PICC in the morning of Friday, 4 May. Business Sessions will be held on 4 and 5 May. These events are open to all participants.
Country presentations and seminars on financial and topical development issues will take place on 2-5 May. The Meeting will close at about 5:00 pm, Saturday, 5 May.
It's Official Website http://www.adb.org
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