ADB Through the Decades: ADBs Second Decade (1977-1986)

The 5-volume publication, ADB through the Decades, provides a historical account of how ADB has evolved to respond to the dynamic changes across the Asia and Pacific region over the past 5 decades. This second volume from the series shows how ADB responded to the growing diversity among its developing member countries as both membership and operations widened during 1977-1986. The Asia and Pacific region continued to grow despite a difficult external global environment, demonstrating resilience after a second oil shock and the international debt crisis that followed. This volume shows how ADB responded to the growing diversity among its developing member countries. During this decade, ADB sought to position itself as a "regional resource center" with a broader role of providing not only financial assistance but becoming a center of new thinking on development issues in the region. ADB moved closer to the ground by opening its first Resident Office in Bangladesh in 1982. New lending products were introduced, including program and sector lending, direct lending to private sector without government guarantees, and equity investment. As the decade closed, two key historical landmarks occurred: ADB made its first loan to India, and the People's Republic of China became a member.