But bureaucratic processes and long approval times have made it fairly unattractive for them since both India and China can borrow as easily and at similar cost in private markets.
Says the bank’s president, Haruhiko Kuroda: “Governors share ADB’s concern with the negative net transfer of resources to DMCs [developing member countries].
“They welcomed ADB’s plans to streamline policies and procedures, develop new lending instruments, sharpen the focus of its operations, and ensure the cost competitiveness, within a well-defined, medium-term strategic framework.”
