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The Finance Minister, Mr Pranab Mukherjee, took over as Chair of the Board of Governors of the Asian Development Bank (ADB) at Manila on Saturday. He will hold this position till the conclusion of the next (46th) meeting of the Board, scheduled to be held in New Delhi in May next year. Speaking on the occasion in Manila, Mr Mukherjee said, as a founder member, India's association with the ADB dates back to 1966. The bank's lending operations in India started two decades later in 1986. He said the ADB has been a valued multilateral partner in India's challenging journey of economic growth.
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