Question

Discuss the actions of the Asian Development Bank? 5mrks ques

Answer 1

PrintIf requested by the borrower, ADB is prepared, in urgent cases, to authorize procurement prior to loan approval. This is particularly when early contracting of goods or works would be crucial for timely completion of the project or when substantial financial benefits would accrue.In such cases, ADB will approve the draft prequalification or bidding documents before they are issued and ensure that requirements for public advertising and notification of bid invitation be followed.ADB's approval of such advance procurement is with the explicit understanding that it does not commit ADB to approve the project and loan, and that future ADB financing depends on compliance with ADB's procedural requirements.

Answer 2

lThe suggestion for the creation of Asian Development Bank (ADB) was initially made by the Economic Commission for Asia and Far East (ECAFE) in 1963 for the purpose of lending funds, promoting investment, rendering technical assistance to the developing countries and fostering economic growth and co-operation in the developing countries of Asia and the Pacific region. This institution formally commenced its operation in December 1966. Its headquarters are located in Manila, Philippines

The membership of ADB is open to all the members and associate members of ECAFE and the members of the United Nations or any of its specialised agencies. By the year ending 2003, 63 countries were its members. Out of them, 45 were regional and 18 non-regional members.