MANILA
ASIAN DEVELOPMENT BANK
DEVELOPMENT BAN
BOARD OF GOVERNORS
NINETEENTH ANNUAL MEETING
30 APRIL-2 MAY 1986
UNITED KINGDOM
GS-14
R. M. AINSCOW Deputy Secretary, Overseas Development Administration
It is my honor and privilege to address the Bank's Annual Meeting for the first time as the representative of the United Kingdom. My Governor, Mr. Raison, has asked me to express his high hopes for a successful outcome to this meeting, and for a fruitful continuation of the Bank's important work in the year ahead. For my own part, I should like to say how much I have appreciated the warmth and hospitality which have been extended to my delegation by the Government and people of the Philippines, and the excellent arrangements which the Bank has made for our discussions.
May I begin by echoing the sentiments of others in affirming the United Kingdom's support for the new adminis- tration of the Philippines. We wish them every success and offer our wholehearted support in tackling the mammoth tasks which lie ahead, and in bringing about a return to prosperity for this beautiful country. The Bank's recently approved special economic recovery loan, which we fully support, has been made in exceptional circumstances. We hope that the Bank will very soon be able to resume a normal lending programme to the Philippines in conjunction with other donors and in ways appropriate to the country's current and future needs.
I should also like to extend a very warm welcome, on behalf of Her Majesty's Government, to Spain and to the People's Republic of China as the newest members of the Bank. We look forward to working closely with them in this institution.
We have always supported an element of Bank lending to India. We therefore welcome the recently approved loan as the first in a regular programme. This will enhance the Bank's regional role. Clearly, any lending to China would have a similar impact.
The United Kingdom is conscious of the considerable efforts which President Fujioka has made in the last four years to widen and improve the Bank's effective contribution