Multilateral Development Banks
They are very different countries with very varying interests. However, there is one outstanding issue where the BRICS could bring their joint clout together to make a difference.Thursday, 29 March, 2012, 12:00am
Since 2005, China has provided loan commitments of about US$75billion to Latin American countries, according to a report by the think tank Inter-American Dialogue. In 2010 alone, for example, China's loan commitments of US$37billion to the region were more than those of the World Bank (US$14billion) and the Inter-American Development Bank (US$12billion) combined.24 Feb 2012 - 12:00am
How times change. It is only a couple of a years since commentators were wondering whether the world's multilateral lending institutions - bodies like the International Monetary Fund and the regional development banks - would soon be irrelevant; done out of a job by rapid economic growth and the spread of private sector financing.17 Feb 2009 - 12:00am
World Bank president James Wolfensohn yesterday defended its reduced lending to the mainland, saying the country was now rich enough to fund many projects on its own.
From 1981 to mid-2003, World Bank lending to China totalled US$36.6 billion for 245 projects, according to the bank's website. This year, the bank will lend China $3 billion for 20 projects.26 May 2004 - 12:00am
AN INTERVIEW with Asian Development Bank president Tadao Chino, published in this newspaper on Friday, cannot pass without comment. While the article did a good job of setting out what the ADB would like to do and be, there is another perspective to this institution and it needs to be offered in balance.9 Jul 2001 - 12:00am
The Government is seeking legislators' approval to donate US$16.28 million (about HK126.82 million) as its contribution to the Asia Development Bank (ADB)'s seventh replenishment of its Asian Development Fund (ADF).5 Dec 2000 - 12:00am
The International Monetary Fund is coming under heavy criticism over its decision to suspend US$480 million of emergency funding to Indonesia, amid suspicions it is making a political judgment on Jakarta's policies.24 Sep 1999 - 12:00am
The Asian Development Bank says it is running out of money and urgently needs to top up its coffers if it is to continue its mission of good deeds.
The International Monetary Fund and the World Bank are feeling the pinch of recent bad times too. World Bank president James Wolfensohn recently had to rebuff mainland pleas for easy lending terms.3 May 1999 - 12:00am
The Asian Development Bank says Beijing has jumped from third- to second-largest borrower last year, as the mainland increased calls for help to expand its infrastructure and for assistance in financial-sector and state-enterprise reforms.26 Apr 1999 - 12:00am
Just 18 days into the job, new Asian Development Bank president Tadao Chino of Japan has announced plans for a major shake-up at the multilateral lending agency.
Mr Chino, who played a key role in the ADB's creation, wants to return it to its roots and refocus its energies on poverty reduction.11 Feb 1999 - 12:00am
The World Bank and the Asian Development Bank (ADB) want to guarantee more bank loans and bonds issued by crisis-hit Asian countries and corporates as part of a joint effort to help reflate the region's economies.
Japan may also co-operate under the auspices of its US$30 billion regional aid plan.9 Nov 1998 - 12:00am
Asian governments should create a US$200 billion fund for recovery and development to help stricken regional economies pull out of their malaise, a former World Bank executive said.9 May 1998 - 12:00am
Asian Development Bank president Mitsuo Sato yesterday gave important backing to an idea put forward by Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong aimed at boosting the role of the ADB in the region and pushing it to take the lead in developing Asia's bond market.2 May 1998 - 12:00am
The World Bank has approved two loans for China's energy sector totalling US$313 million, the international lender announced Friday. The first of the loans approved Thursday will help finance a $150 million energy conservation project.30 Mar 1998 - 12:00am
The World Bank will continue to lend the mainland between US$2.5 billion (HK$19.32 billion) and US$3 billion a year to support economic reforms.
The aid would continue despite revelations of funds being misappropriated by corrupt cadres, Xinhua quoted the bank's head in China as saying yesterday.29 Nov 1997 - 12:00am