ADB defines itself as a social development organization dedicated to fighting poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. This involves investments – in the form of loans, grants and information exchange – in infrastructure, health services, public financial and administrative systems, which help nations prepare for the effects of climate change or better manage their natural resources, and in other areas. The bank is headquartered at 6 ADB Avenue, Mandaluyong, Metro Manila, Philippines, and has 31 field offices in Asia and the Pacific as well as representations in Washington, Frankfurt, Tokyo and Sydney. The Bank employs approximately 3,000 people, representing 60 of its 68 members.  Following considerable pressure from the Reagan administration in the 1980s, the ADB reluctantly began cooperating with the private sector to increase the impact of its development assistance to poor countries in Asia and the Pacific. Following the second oil crisis, the ADB extended its aid to energy projects. In 1982, ADB opened its first branch in Bangladesh and later in the decade expanded its activities with non-governmental organizations (NGOs).  I hope that these efforts will be welcomed and that the approval of the Order by this House will enable Her Majesty`s Government to ratify the agreement before the September 30 deadline and thus participate effectively in the decisive phases of its initial development. Liaison with the host country on accreditation, establishment of permanent representations and international agreements concerning the organization and headquarters agreement of the OPCW. Oxfam Australia has criticised the Asian Development Bank for its insensitivity to local communities.
“These banks, which operate globally and internationally, can undermine human rights through projects that have negative consequences for poor and marginalized communities.”  The Bank has also received criticism from the United Nations Environment Programme, according to a report that “much of the growth has bypassed more than 70 percent of the rural population, many of whom depend directly on natural subsistence and income resources.”  In 1966, with intense preparatory work for the opening of the new bank in Manila, the election of the president was at the top of the agenda. Japanese Prime Minister Eisaku Satō asked Watanabe to be a candidate. Although he initially refused, pressure came from other countries and Watanabe agreed. In the absence of other candidates, Watanabe was elected the first President of the Asian Development Bank at its constituent session on November 24, 1966. After its inception in the 1960s, ADB focused on food production and rural development. Asia was then one of the poorest regions in the world.  Second, is it really necessary for the bank and other such financial institutions to have even these minimum privileges? I have thought a lot about this issue. Can the honourable lady tell us what other financial institutions have such privileges and immunities? I guess that`s what the World Bank and probably the officials of the International Monetary Fund are doing, but do other banks like that have the rights that we have now? An expert group was convened to study the idea, with Japan invited to contribute to the group. When watanabe was recommended, the two streams that proposed a new bank – ecafe and Japan – came together.
At first, the United States was on the fence, not against the idea, but not ready to take on financial aid. But a new bank for Asia was soon part of a broader aid program for Asia, planned by U.S. President Lyndon B. Johnson in the wake of intensifying U.S. military support for the government of South Vietnam. . . .