mobilization and similar subjects are a series of Bank efforts to support private sector development in the region. Establishment of the Private Sector Division signifies the begin- ning of a new age for Bank operations. Within the past two months, the Division has sent promotion missions to Indonesia, Malaysia and Thailand and has stimulated considerable interest in these countries. I believe the Asian- Pacific region is good model for economic development based on private initiative and market orientation,
I am pleased to note that last year the Governors authorized special increases in the capital subscriptions of five European coun- tries, Finland, France, Italy, the Netherlands and Switzerland, to bring their capital share percentages more in line with their ADF contributions.
Now, a number of member governments have requested that the size of the Board of Directors be increased by one, to create a new constituency to accommodate the People's Republic of China without disturbing the ex- isting grouping arrangements. The ADB has a tradition of harmony between developed and developing countries and between regional and non-regional countries. I hope the Gover- nors will give us guidance on this matter as well.
Mr. Chairman, Distinguished Governors, the ADB is a dynamic financial and develop- ment institution which has contributed much to the economic development of the region. Our operational responses to the needs of our developing members have been effective and
practical and our financial policies conser- vative and sound.
In our effort to play a larger role in the economic and social development of the region, the Bank has consistently shown that it can adapt to new regional realities. I have no doubt that we will continue to respond ef- fectively to the needs and aspirations of the countries we serve.
I am counting on all of our members to continue to support and strengthen the ac- tivities of the Asian Development Bank to help our developing members achieve sustained growth and prosperity as we move into a new age and prepare to play an even larger role in the economic development of the Asian- Pacific region.
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