ASIAN BANK
Work Starts Soon
(N.Z. Press Assn—Copyright) SYDNEY, Nov. 1. The recently established Asian Development Bank plans to begin work in Manila on December 19, the chairman elect, Mr Takeshi Watanabe, of Japan said in Sydney yesterday. He is having consultations with the Australian Treasury and banking authorities. He will go to New Zealand later this week. The bank will raise a nominal 1000 million dollars as capital from contributors. Initially the capital will be paid up to half the amount — 500 million dollars—and this amount will be paid in five equal instalments. Therefore the bank will begin with a capital of only 100 million dollars.
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Bibliographic details
Press, Volume CVI, Issue 31206, 2 November 1966, Page 17
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107ASIAN BANK Press, Volume CVI, Issue 31206, 2 November 1966, Page 17
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