The Asian Development Bank was created in 1966, two years after the African Development Bank. Today both of them are talking about needed reforms to better serve their member countries. Last month we looked at the issues in Africa where there is still widespread need for development aid.The situation is different for the Asia-Pacific area. The Asian Development Bank was created to raise money from rich industrial nations for loans to support economic growth. Now there are supplies in Asia, and less and less need for those loans. Rajac Naug? is managing director general of the bank; we called him in M**. He says the bank is debating how to deal with the two faces of Asia. Economic growth in many countries has been great .10% a year in China, for example. The bank's members have about two trillion dollars in savings that could be investive?. Yet more than six hundred million people in Asia are still without clean water.
posted on 2007-06-13 22:45
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