An Analysis of Parliamentary Debates in India on International Financial Institutions (1984-2009)
50 years of ADB – The Indian story of resistance
The Asian Development Bank was conceived in the early 1960s as a financial institution that would foster economic growth and cooperation in Asia. India was a founding member of the Asian Development Bank (ADB) and is now the fourth-largest shareholder. ADB commenced operations in India in 1986 and has approved 240 loans totalling $36.8 billion.
Asian Development Bank (ADB) has grown to be the third largest source of development finance in the Asia-Pacific region, next to the World Bank Group and the Japanese Government. Documents published in 2017 reveals that from a lending portfolio of just over $3 billion during the first decade, ADB has expanded its lending to $123 billion during the last 10 years.
However, the Mid-term Review (MTR) of ADB’s strategy for 2015 and 2020 have acknowledged that the Asia-Pacific region faces widening inequalities in income and access to economic and social opportunities. Increased investment in infrastructure has failed to provide inclusive growth and social protection to the vulnerable sections of the populations including the workers and women.
India had about 84 ongoing sovereign loans from ADB amounting to $11.9 billion at the end of 2015. Currently, we have about 170 active projects in the country of ADB alone. The massive Vizag-Chennai corridor, the numerous urban development projects across the country, the ReNew clean energy projects in Andhra Pradesh, Gujarat, Jharkhand, Madhya Pradesh, Telangana and Karnataka, are only a few of the 50 odd active and approved projects. Further 23 projects have been proposed to the ADB waiting for approval. These are just projects covered by ADB, adding them to the projects funded by all IFIs shows the extent of their influence in almost every sector – energy, infrastructure, health, etc. The scale of land grab, loss of livelihood, environmental destruction has been completely overlooked by both the IFIs and the government. The rampant privatisation of all the sectors, including health care, is going to affect all those who would not be able to afford health care. In such a time, holding the development banks accountable has become imperative for one’s survival with some modicum of dignity.
ADB Investments in India-Source: Answer by the Government to the Parliament of India
ADB 50 campaign in India by Working Group on IFIs– a snapshot
Working Group on International Finance Institutions (WGIFIs) is a collective of organisations and individuals to critically look at and evaluate the policies, programmes and investments of various International Finance Institutions (IFIs), and joining the celebration of the people and communities across the world in resisting them.
Members of Peoples’ Forum against ADB: https://wgonifis.net/about-us/
50 years of ADB – The Indian story of resistance https://wgonifis.net/2017/08/09/50-years-of-adb-the-indian-story-of-resistance/
The first week of May 2017 was marked by actions across the country against ADB and other IFIs. It coincided with ADB’s 50 years celebrations in Manila. The massive protest actions were intended to send a strong message to the ADB and other IFIs of the havoc their investments have caused. Thousands of people, in over 140 locations spread in over 21 states in India and over 80 organisations, came together to make this campaign a massive success. These protest actions are both a reminder of the reckless lending of ADB and hope to continue the struggle against the IFIs and their inequitable development model.
The coming together of so many organisations resulted in a wide range of programmes, including the public meeting, lectures, demonstrations, and human chains. Activists also made short video clips highlighting the impacts of the investments by IFIs. The protests actions raised concerns about investments of IFIs like World Bank; International Finance Corporation; Japan Bank of International Corporation (JBIC); Asia Infrastructure Investment Bank; New Development Bank; Exim Banks of Korea, United States, China among others. Many of these agencies are co-financiers, with increasing investments in the infrastructure and cross border projects, thus causing irreversible damage to the people and environment, while their policies to safeguard the harm caused by their investments are made opaque and watered down.
The actions aforementioned on the occasion of 50 years of ADB are a part of the continuous struggle of the people from all the regions that have been affected by the projects.
Report on Actions
Places of Actions
Photos of Actions
Video Clips on Impact of ADB-funded projects in India
Press Releases on ADB 50 years of Resistance
(07 May 2017) Jhabua: Protest in Meghnagar, Jhabua against ADB and other IFIs
(May 6, 2017) Bilaspur: ADB Stop Violating Human Rights and Rights of Indigenous, tribal and forest communities: Stop Supporting Militarisation of our Territories
(May 5, 2017) Nagpur: Workers and Hawkers Stages Protests Against Privatisation of Civic Services
(May 5, 2017) New Delhi: ADB’s 50 years greeted with nationwide protests
Netindia123.com: Medha Patkar demands more transparency in ADB projects
(May 9, 2017)
Webindia123.com: Medha Patkar demands more transparency in ADB projects
(May 9, 2017)
The Statesman: Call for nationwide protests against ADB’s projects in India
(May 8, 2017)
Business Standard: Medha Patkar demands more transparency in ADB projects
(May 8, 2017)
Eenadu: Medha Patkar demands more transparency in ADB projects
(May 8, 2017)
Sify.com: Medha Patkar demands more transparency in ADB projects
(May 8, 2017)
The CEO Magazine: Medha Patkar demands more transparency in ADB projects
(May 8, 2017)
Orrisadiary.com: ADB’s 50 years greeted with mass protest at Bhubaneswar, Odisha
(May 8, 2017)
Sambad: ଏସିଆ ବିକାଶ ବାଙ୍କ ବିରୋଧରେ ଆନ୍ଦୋଳନ (May 7, 2017)
The Shillong Times: ADB’s 50 years greeted with nationwide protests (May 6, 2017)
Navratnanews.com: 50 years of Asian Development Bank Destruction, Displacement and Exploitation of Natural resources (May 6, 2017)
Mumbainewsnetwork: ADB’s 50 years greeted with nationwide protests (May 5, 2017)
Daily O: ADB celebrates 50 years, but there’s a problem with development institutions (May 5, 2017)
The Ecologist: Asian Development Bank must end its 50-year addiction to coal!
(May 4, 2017)
The Telegraph: Protests against ADB projects (May 4, 2017)
Emaatimes.com: पटना: टुकड़ों में बंट कर रह गयी बिजली कंपनियां, गरीबों से दूर हो गयी बिजली
(May 3, 2017)
Janjosh.com: अगेंस्ट ADB की बैठक हुई सम्पन्न (May 3, 2017)
TwoCircles.net: Marking Asian Development Bank’s 50 years, protests to take place in over 100 places in India this week (May 2, 2017)
MattersIndia.com: ADB’s 50 years: Protests to take place in several places (May 2, 2017)
National News Analysis: Marking Adb’s 50 Years, Protest Actions To Take Place In Over 100 Places In India This Week (May 2, 2017)
Governance Now: ADB’s 50th anniversary, civil society’s 100 protests (May 2, 2017)
Counterview.org: Anti-ADB protests begin across India: Planks include loss of livelihood of indigenous people, eco-destruction (May 1, 2017)
Ecologise.in: ADB@50, Resistance@50 (April 28, 2017)
Counterview.org: 50 actions of resistance in India at 50 places against ADB’s 50 year of inequitable policies
(April 28, 2017)
भारत के पावर सेक्टर सुधार: एडीबी जैसे अर्तराष्ट्रीय वित्तीय संस्थान अभी भी उस अव्यवस्था से हाथ धो रहे जो उन्होने बनाई (मई 2017)
Privatisation and Commercialisation of Water in India
Clean Coal Advocated by ADB, A Dirty Lie
In the Name of Clean Energy
A report on Asian Development Bank-financed hydropower projects in Himachal Pradesh (May 2011)
ADB Funding for Hydropower Projects in North East
IFIs and Tourism: Perspectives and Debates
India: Core labour standards not implemented in ADB funded projects
Indian banks should have safeguard policies of the kind followed by international financial institutions. Despite the crisis in several parts of India following demonetisation, which sucked out 86% of the currency in circulation overnight, one of...