ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Time to Look into Tenders

Asian Development Bank THE Asian Development Bank was formally inaugurated on Thursday. It has a ten-member board of directors with the Japanese economist, Takeshi Watanabe, as President. The authorised capital of the Bank is to be raised from $ 1 billion to $ 1.1 billion. The paid-in capital is $ 95 million of wich $ 60 to 70 million is in convertible currencies. Of the 10 directors, seven represent countries of the region and three are from the developed countries, the USA, the UK and West Germany, which have contributed to the Bank's capital.

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