Click to subscribe to a feed The multilateral lending agency also said the bonds, denominated in Indian rupees but settled in US dollars, were underwritten by Citibank and TD Securities. The commercialisation and privatisation of state enterprises are highlighted in the ADB's idea of good governance. The World Bank and, to a lesser extent, the ADB have been accused of bloated bureaucracy and stringent procedures, resulting in inefficiencies. The Manila-based institution, which released an update of its Asian Development Outlook on Thursday, kept its and economic growth estimates for the region at 6.
India fastest growing economy in Asia, says Asian Development Bank
In voting in the Board of Directors, each Director shall be entitled to cast the number of votes that counted towards his election which votes need not be cast as a unit. Article 19 Special funds 1. Members may not maintain or impose any restrictions on the holding or use by the Bank or by any recipient from the Bank, for payments in any country, of the following: This Agreement shall be subject to ratification or acceptance by the Signatories. Notify me of follow-up comments by email. Article 48 Purpose of Chapter To enable the Bank effectively to fulfill its purpose and carry out the functions entrusted to it, the status, immunities, exemptions and privileges set forth in this Chapter shall be accorded to the Bank in the territory of each member. The Bank shall be guided by sound banking principles in its operations.
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It claims that all its other strategic objectives--economic growth, human development, sound environmental management and improving the status of women--will henceforth be pursued in such a way that they directly contribute to poverty reduction. If the Bank terminates its operations pursuant to Article 45 of this Agreement within six 6 months of the date upon which any country ceases to be a member, all rights of the country concerned shall be determined in accordance with the provisions of Articles 45 to 47 of this Agreement. Article 29 Board of Governors - Procedure 1. No tax of any kind shall be levied on any obligation or security guaranteed by the Bank, including any dividend or interest thereon, by whomsoever held: The ADB subsequently adopted and expanded the idea to the level of sub-regional "masterplans," which involve huge financial outlays, technical inputs, management capacity and regulatory frameworks. The Bank shall take the necessary measures to ensure that the proceeds of any loan made, guaranteed or participated in by the Bank are used only for the purposes for which the loan was granted and with due attention to considerations of economy and efficiency;.
No tax of any kind shall be levied on any obligation or security guaranteed by the Bank, including any dividend or interest thereon, by whomsoever held: Article 21 General powers In addition to the powers specified elsewhere in this Agreement, the Bank shall have the power to: You work with most intelligent and smart people at ADB. Governors and alternates shall serve as such without remuneration from the Bank, but the Bank may pay them reasonable expenses incurred in attending meetings. Normally each day would include discussion with the desk officers, reading materils and research of relevant publications and on internet.
28 days ago