ADB Through the Decades: ADB's First Decade (1966-1976)
- 52 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
ADB Through the Decades: ADB's First Decade (1966-1976)
About This Book
When the Asian Development Bank (ADB) was established in 1966, the Asia and Pacific region was undergoing a process of deep change. Several countries gained independence and a sense of regional identity was emerging. A more organized drive toward modernization started in several countries but the region was still defined by poverty. Feeding people remained a primary concern even while the Green Revolution was under way. The first oil crisis in 1973 led to a worldwide recession and tested many Asian economies. This volume explains how the idea of a regional development bank for Asia emerged and gained support. During its formative years, ADB dealt with a myriad of administrative, organizational, and funding issues in order to establish itself as a sound and credible institution. ADB's first President, Takeshi Watanabe, envisioned ADB's role as Asia's "family doctor." ADB took a pragmatic approach and conducted studies and surveys to acquire a fuller understanding of the region before lending gained momentum in the second half of the decade, focused on energy, transport, agriculture, and finance.
Frequently asked questions
Information
APPENDIXES
Late 1950s to early 1960s | ā¢ Discussions begin on the establishment of a possible Asian development bank |
1963 | ā¢ A Private Plan for the Establishment of the Asian Development Bank (ADB) is unofficially issued |
ā¢ The first ministerial conference on Asian Economic Cooperation is held under the auspices of the Economic Commission for Asia and the Far East (ECAFE) in Manila with a resolution passed endorsing a proposal to establish a regional bank for Asia | |
1964 | ā¢ A working group is established to work on the idea of an Asian Development Bank, completing its report in October |
1965 | ā¢ A draft agreement establishing ADB is adopted at the second ECAFE ministerial conference (29 November to 2 December) after both Japan and the United States (US) express support |
ā¢ Members decide on Manila as the head office of ADB, and 22 governments sign the ADB Charter (another nine countries will sign before the prescribed deadline of 31 January 1966) | |
1966 | ā¢ The agreement establishing ADB is ratified (22 August) by 31 founding members ā¢ The inaugural meeting of ADB's Board of Governors is held on 24-26 November in Tokyo, Japan; Takeshi ... |