Asian Development Bank Articles Of Agreement

The Bank employs approximately 3,000 people, representing 60 of its 68 members. [16] ADB offers “hard” loans on commercial terms mainly for middle-income countries in Asia and “soft” loans at lower interest rates for poorer countries in the region. On the basis of a new directive, both types of loans will be obtained from January 2017 from the ordinary capital resources (OCR) of the Bank, which acts as a general operating fund. [31] Already in 1956, japanese Finance Minister Hisato Ichimada proposed to US Secretary of State John Foster Dulles to support development projects in Southeast Asia through a new financial institution for the region. A year later, Japanese Prime Minister Nobusuke Kishi announced that Japan intended to support the establishment of a Regional Development Fund, mainly from Japan and other industrialized countries. . .

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