Hendrik_2000
Lieutenant General
I completely agree The ADB is nothing more than disguise subsidy to Japanese industry. It is half hearted effort to help developing country. They are stingy and has such a high standard that developing country just can't meet the standard
It is inadequately capitalized and control too much by Japan and US that it become extension of their political agenda. They are created to endear Japan to Asia after their brutal occupation . But completely failed as their projects are too few to make any difference Take example Cambodia that was one of the poorest country in SEA . For years the ADB do nothing. It was not until China get involved that Cambodian economy took off. Ditto with Laos and Myanmar
Once the ADB was founded in 1966, Japan took up the Presidency and some other crucial "reserve positions" such as the directorship of the all-powerful administration department known as BPMSD (Budget, Personnel, and Management Systems Department) through which they manage the institution. By the end of 1972, Japan had 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 to the special fund.
After its creation in the 1960s, ADB focused much of its assistance on food production and rural development. At the time, Asia was one of the poorest regions in the world.
Early loans went largely to , , , and the , the countries with which Japan had crucial trading ties; these nations accounted for 78.48% of the total ADB loans between 1967 and 1972. Moreover, Japan received tangible benefits, 41.67% of the total procurements between 1967 and 1976. 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.
served as the first ADB president from 1966 to 1972.
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