TOKYO -- As the Asian Development Bank finds its regional hegemony threatened by the China-backed Asian Infrastructure Investment Bank, members of the ADB are pushing for internal reform.
During the 50th annual meeting that ended Sunday in Yokohama, delegates took issue with the ADB in a number of areas. German representatives called for the bank to focus more on mobilizing private-sector funding. The Indian contingent said the country can no longer afford to take out loans that are excessive relative to its budget.
