Mr. Alan Lee Williamsasked the Minister of Overseas Development whether he will make a statement about progress with the Asian Development Bank.
§ Mr. BottomleyThe Bank, to which Britain has subscribed$30 million, formally opened its doors for business at its Headquarters in Manila on 19th December last. Since then there have been a number of meetings of the Board of Directors, in which the British Alternate Director has taken an active part, to discuss the Bank's lending and other policies, Mr. Watanabe of Japan, the President of the Bank, has meanwhile been recruiting staff and Britain has provided him with assistance in this field. One British appointment to the Bank's senior staff has already been made, and I hope others will be made in the near future. At this early stage in its affairs the Bank has not yet made any loans.