U.S. CONCERNED ABOUT INCREASED JAPAN VOTES AT ADB
Washington views with concern a
plan to increase Japan's voting power at the Asian Development
Bank (ADB), a U.S. Delegate at the bank's annual meeting said.
    Japan, which holds 15.1 pct of the ADB's capital stock, and
the U.S. Which holds 14.9 pct, currently have near-parity in
voting power.
    "The ADB was set up in 1966 as a partnership between the
U.S. And Japan," the official said. "Any change in that
relationship would transmit a psychological message to this
region's countries that there is a slackening of interest on
the part of the U.S."
    "We do not want any dilution of our influence in the
organisation," the U.S. Official added.
    He said an imbalance in procurement contracts awarded for
ADB-funded projects was however improving slowly.
    The U.S. Share of the contracts had grown from about seven
pct to about 12 pct in 1986, the official said, while Japan's
share had dropped from 25 pct to 20 pct.
    "We will urge more U.S. Businessmen to join in the bidding
for these projects," he said.
    The official said Washington was concerned about the ADB's
future role in the region.
    "The U.S. Believes the ADB should act as a catalyst both for
policy changes that will lead to sustainable, long-term
economic growth and for other financial flows," chief U.S.
Delegate Charles Dallara told the meeting earlier.
    "Economic reform should be a theme of the ADB's lending," the
unidentified U.S. Official said.
    "The bank is doing its borrowers a disservice by not
entering into policy dialogue," he added.
    "We are looking for the bank to take up the cudgel when its
borrowers are at a critical stage in their development. We are
looking at a 15 or 20 year horizon."
 REUTER
