the asian development bank
The Asian Development Bank (ADB) is a regional equivalent of the World Bank. It aims to reduce poverty in Asia and the Pacific Region by making loans for development projects and by giving advice and analytical services. The ADB is also meant to foster economic growth, support human development, improve the status of women and protect the environment.
Report:
Running
Dry - Does the ADB stand for "Water for
all"?
Despite its name the ADB is not a bank but an agency of countries as shareholders. Created in 1966 and based in Manila, in the Philippines, the ADB now has 63 countries as shareholders. The majority are from the Asian Pacific region with a minority of “donor” countries from outside. Its funds are obtained from its members (this money is used for soft loans to needy borrowers) and from bond issues in the capital markets (this money is used for more commercial loans).
In 2003 its loan portfolio stood at $6billion. Its biggest borrowers are Indonesia, China, Pakistan and India and its biggest donors are the USA and Japan. Its strategy is to lend where private finance is reluctant to take on the risks and, by giving assurance, security and guarantees, to encourage private money to follow.
Over the course of the past decade the ADB, with pressure from NGOs, has improved its lending policies and procedures. It has policies to facilitate NGO involvement and in November 2002 it introduced a new environment policy. In May 2003 it introduced a policy requiring consultation with people who would be affected by its projects and a compliance procedure to enable complaints of affected people to be heard at any stage of a project's life.
Many people are still concerned that these policies are not being adhered to or are insufficient.
Friends of the Earth International aims to ensure that the ADB adequately incorporates social and environmental concerns in its projects and complies with its own operational policies and procedures.
To achieve this aim, Friends of the Earth International campaigns to put in place and, where they exist, strengthen environmental and social standards and also test compliance through case studies. Friends of the Earth International also works to expose the role of the ADB in the privatization of water and other fundamental resources.
However, Friends of the Earth International's work is made harder by the ADB's policy of siting its meetings in places which are expensive to access.
News
ADB and Smallholders Agriculture Projects in Papua New Guinea
ADB revises communications policy http://www.adb.org/Disclosure/default.asp
Friends of the Earth Japan convinces ADB to review Sri Lankan highway project
FoEI and other organisations boycotted ADB's 2004 annual meeting
Read more
Bank Information Center:
www.bicusa.org
Asian Development Bank:
www.adb.org
NGO Forum on the ADB
www.forum-adb.org
Focus on the Global South
www.focusweb.org
