ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The President- Convergence of Power

seven years ago. But in assessing the performance of an international development finance institution, financial statistics alone cannot be the guide. The ADB started with some laudable objectives, among them rendering assistance particularly to the less developed and smaller countries of the region. ADB's annual report for 1969 stated that the ADB "will not be guided by an a priori emphasis on one or the other sectors of economic activity but by considerations relevant to a rational choice between different investment opportunities". However, during the last six years ADB appears to have developed its own preferences, influenced by traditional development banking concepts.

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