FACT CHECK: Ex-president Marcos was not founder of the Asian Development Bank FactsFirstPH
ADB’s first president, Takeshi Watanabe, has been called the “Father of the Bank,” according to the book “” written by academic and historian Peter McCawley.
McCawley wrote: “This special recognition reflects the remarkable role that he [Watanabe] played in the establishment of the institution.”for President Ferdinand Marcos Jr. held on May 22, 2023. In his welcome remarks, ADB President Masatsugu Asakawa mentioned the elder Marcos: “The Asian Development Bank has a special and enduring partnership with the Philippines as our host country. Mr.
According to McCawley, the former president and other Philippine delegates had lobbied for Manila to host the bank’s headquarters. After three rounds of voting, the Philippine capital garnered the majority vote over several other cities – including Tokyo, which had been the leading candidate to host the new institution.
Before the second round of voting, McCawley recounted how Manila gathered support for its bid. He wrote: “[UN Economic Commission for Asia and the Far East Executive Secretary] U Nyun announced that he would conduct a second ballot the following morning, giving delegates from the remaining three cities – Manila, Tehran, and Tokyo – an opportunity to gather further support overnight. The delegates then enjoyed an evening of lively entertainment – until almost 2 am – on board the S.S. Roxas, one of the presidential yachts.
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