This refers to ‘India, China woo Japan on ADB’s Arunachal loan’ (July 10). We wish to clarify that the ADB Board of Directors did not ‘approve’ any loan for a specific project, nor did the ADB Board ‘approve’ the $2.9-billion plan for India.
What the ADB Board did was to discuss ADB’s Country Strategy for India for 2009-2012, where the ADB’s Board of Directors gave full support to the general development thrust and direction of the India Country Strategy. This was found to be in line with India’s development priorities as set out in its 11th Five Year Plan, and is congruent with ADB’s long-term Strategy 2020 to reduce poverty in the Asia-Pacific region.
ADB Board’s support to the India Country Strategy does not imply approval of any of the projects and programmes covered under the strategy. As such, there was no discussion on specific projects and programmes in relation to the India Country Strategy. All individual projects and programmes will require separate approval on a case by case basis by ADB’s Board of Directors.
We wish to reiterate that the ADB Charter mandates that ADB shall not interfere in the political affairs of any member and that only economic considerations shall be relevant to its decision.
Ann Quon
Principal Director
Department of External Relations
Asian Development Bank
