1 The proposal for the creation of a development bank for the Asia-Pacific region can be traced to a conference of the then United Nations Commission for Asia and the Far East in 1963 (Kappagoda, 1995, 13; Dutt, 2001, 242). A Consultative Committee was created to determine the need for a new institution, and the case was made that a development bank in the region would be a conduit for channeling additional external resources to the region; assisting in financing projects that were not adequately funded by other donor agencies; and acting as a focal point for...
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