The US and the Asian Development Bank: Origins, Structure and Lending Operations
Author(s)
Dutt, Nitish
Abstract
The dominant discourse related to the establishment of the Asian Development Bank revolves around its structure, functions, and lending operations, but the self-serving role played by the United States during its formative years has been largely neglected. This article focuses on the early years of the bank (1967-72) and American efforts to make it a subservient tool of its foreign policy. A close examination of America’s role and influence within the bank during its formative stage illustrates how multilateral institutions, funded by rich countries, can be used to force poor nations to adopt methods at odds with their own interests.
