ACTIVITY

Go for a virtual Tour!

Go to the web and accomplish these tasks:

a. Choose an international economic organization (Asian Development Bank, European

investment Bank, etc.) or an international company (Honda, McDonalds’, Kimberly Clark,
etc.);

b. Research the origin and history of the institution you have chosen;

 The Asian Development Bank was

conceived in the early 1960s as a financial institution that would be Asian in character and foster
economic growth and cooperation in one of the poorest regions in the world.

 A resolution passed at the first Ministerial Conference on Asian Economic Cooperation held by
the United Nations Economic Commission for Asia and the Far East in 1963 set that vision on the
way to becoming reality.

 The Philippines capital of Manila was chosen to host the new institution, which opened on 19
December 1966, with 31 members that came together to serve a predominantly agricultural
region. Takeshi Watanabe was ADB's first President.

 The next 3 years- ADB’s first technical assistance, loans and bond issue. ( in Germany)
 c. Identify the major country-leaders of this institution, and

Masatsugu Asakawa is the President of the Asian Development Bank

(ADB) and the Chairperson of ADB’s Board of Directors. He was elected
President by ADB’s Board of Governors and assumed office on 17
January 2020.

Prior to joining ADB, he served as Special Advisor to Japan’s Prime

Minister and Minister of Finance, and has a close-to-four decades’
career at the Ministry of Finance with diverse professional experience
that cuts across both domestic and international fronts.

In the immediate aftermath of the Global Financial Crisis, Mr. Asakawa,

in his capacity as Executive Assistant to Prime Minister Taro Aso, took part in the first G20 Leaders’
Summit Meeting in November 2008. He was instrumental in orchestrating a globally coordinated
financial package to abate the financial crisis, including a $100 billion loan from Japan to the
International Monetary Fund (IMF). Then in 2016, in his capacity as Vice Minister of Finance for
International Affairs, he took on a leading role for the G7 Finance Ministers and Central Bank Governors’
meeting in Sendai under the Japanese presidency, where a sustainable and inclusive development
agenda was extensively discussed.

Most recently, he served as Finance Deputy for the G20 meetings under the Japanese presidency,
playing a pivotal role for the success of the G20 Osaka Summit as well as the G20 Finance Ministers and
Central Bank Governors’ meeting in Fukuoka. Some of his outstanding achievements in Osaka include
the endorsement by the G20 Leaders of the “G20 Principles for Quality Infrastructure Investment” and
the “G20 Shared Understanding on the Importance of UHC Financing in Developing Countries”. Before
these, he had occupied various prominent positions within the Finance Ministry, including director
positions in charge of development policy issues, foreign exchange markets, and international tax policy.

Dr. Bambang Susantono is the Vice-President for Knowledge Management

and Sustainable Development of the Asian Development Bank (ADB). He is
responsible for ADB’s knowledge management through direct oversight of
the Sustainable Development and Climate Change Department, Economics
Research and Regional Cooperation Department, and Department of
Communications.

Dr. Susantono supervises the development of ADB’s flagship publications

and reports on Asia’s Key Development Indicators, Asia Development
Outlook, and Economic Indicators. This includes macro, micro and regional
economic research and financial integration to inform country partnership strategies and diagnostic
studies among others. He coordinates ADB's multi-sector operations research to support its investments
through technical assistance programs from multiple donor trust funds across energy, transport, urban,
 water, finance, education, and health sectors. Dr. Susantono provides
strategic leadership on ADB’s commitment to the global sustainability and
climate change agenda through mainstreaming of environment, climate
change and disaster risk, governance, regional cooperation and
integration, social and gender equity, rural development and food
security, across ADB’s respective business lines. He is also responsible for
ensuring due diligence and quality assurance of operations through the
management of environment and social safeguards. He anchors ADB
communication on development issues and access to information across multiple stakeholders, internal
and external audiences.

Ms. Deborah Stokes is the Vice-President for Administration and Corporate

Management of the Asian Development Bank (ADB). She assumed the
position in January 2016.

Ms. Stokes is responsible for the overall management of the operations of

the Budget, People, and Management Systems Department; Office of
Administrative Services; Office of the General Counsel; Information
Technology Department; Office of the Secretary; and Procurement,
Portfolio and Financial Management Department.

Prior to this, Ms. Stokes was a senior official in Australia’s Department of Foreign Affairs and Trade and
Australian Agency for International Development. She was most recently High Commissioner to Papua
New Guinea, and has served as Australia’s Ambassador to Austria and Permanent Representative to the
United Nations in Vienna, and Deputy Head of Mission at the Australian Embassy in Tokyo.

She also held positions at the Australian Embassy in Yangon and the United Nations Development
Programme in New York.

Mr. van Wees is responsible for the overall management of the operations of
the Office of Risk Management, the Controller's Department, and the
Treasury Department.

Before ADB, Mr. van Wees was a senior official at the German Investment
and Development Corporation (DEG). Her responsibilities included origination
and portfolio management of debt and equity investments in Europe, the
Middle East, and Asia and treasury. Prior to DEG, Mr. van Wees held
management positions in corporate finance and business development at international corporations.

Prior to joining ADB, Mr. Chen headed the Department of International Economic and Financial
Cooperation at the Ministry of Finance of the People’s Republic of China (PRC).

From 1998, Mr. Chen held senior positions in the Ministry of Finance, overseeing areas of public finance
and partnerships with multilateral development banks.
From 2012 to 2014, he was a Board Director in the Credit Guarantee and Investment Facility. Mr. Chen
was World Bank’s Executive Director for the PRC from 2013 to 2016 and a Board Director for the PRC in
the New Development Bank and the Asian Infrastructure Investment Bank from 2016 to 2018.

Mr. Saeed is responsible for operations in the East Asia Department, the
Southeast Asia Department, and the Pacific Department.

Mr. Saeed was formerly the Managing Director and Head of Public Sector for
Middle East, North Africa, and Pakistan at JP Morgan Chase in Dubai, UAE. He
previously worked in the US Department of the Treasury as Deputy Assistant
Secretary for the Middle East and Africa and as White House Fellow and
Advisor to the Secretary of the Treasury. He has experience working with
many governments, central banks, finance ministries, and sovereign wealth funds on a broad range of
economic and financial issues.

d. then writes an essay on how international financial institutions influence global economic activity.
Mention the Philippines’ role in the interconnected global economic activities.

A few worldwide (related to managing money) and exchange associations influence the earth of
worldwide business in a mixed group of ways, for example, (figuring out the worth, amount, or quality
of) the nation's money-based condition, stretching out credit offices to public governments just as
individual associations, undertaking value guesses, giving (many-sided/with more than two countries'
input) promises to exchange and travel, settling questions, keeping information gathering of worldwide
money related (solid basic structures on which bigger things can be built), collecting and spreading data,
securing licensed invention of new things, giving (made to do one thing very well) help, and giving
helping payments to improvement projects.

“Financial institution must be able to deliver an easy to navigate, a seamless digital platform that
goes far beyond a miniaturized online banking offering”, as Jim Marous once said.It hints that
association in each industry are decided by their ability to make the shoppers regular daily existence
simpler. Worldwide Money related Organizations intends to (1) lessen worldwide poverty and improve
people day to day (surrounding conditions) and ways of thinking/basic truths/rules, (2) support/judge as
correct supportable (related to managing money), social and institutional turn of events and (3) advance
local working together/team effort and joining. With these goals and goals, we can close the hit/effect of
worldwide money-related foundations to the worldwide (related to managing money) action. But before
we cite the influence of these lets first define what is International Financial Institutions? In what way or
how it influences Global economic activity? And lastly what role does Philippines play in the
interconnected Global economic activity?

International Financial Institutions or (IFIs) are international financial which multiple nations
founded. They are subject to international law instead of the laws of any one single country. In the other
side, Global economic activity is defined as activity of making, purchasing or selling of goods or services.
These two are interconnected since international financial institution influence global economic activity.
The 21st century requires procedures and measure that enhance the transformation of global scenarios.
Today, the international financial institution are increasingly engaging countries that are economically
poor into investing in resourceful developments that support economic growth. (IFC Magazine, 2010).
The institution supports the growth of the saving gap in the developing by diversifying and sourcing
funds in terms of strategically planned investments. According to Wogan (2010), the financial institution
uses the flow of private capital to fill the financial gaps by conveying technologies, changing the market
behaviors, investing in the enhancement of managerial skills and funds distribution channels. The
international financial bodies have to play the role of changing market positions. With these jobs, it
hit/affect the worldwide money-based movement by changing business part/area positions and
financing the creation of items. They need to (promise that something will definitely happen or that
something will definitely work as described) the poor (take part of something/join others as they do
something) in exercises supporting (related to surrounding conditions or the health of the Earth) (able to
be done) development. They obliged to think like them by subject to the pattern of behavior of chances
in the market. They along these lines address the (problems, delays, etc.) of improving cleverness and
(ability to change) to react to show off need productively. Worldwide Money-related Organizations
starting today hit/effect worldwide money-based action by giving helping payments to the structure of
other money related establishments in the neighborhood markets. This is the measure to strengthen
their capital base through putting useful things/valuable supplies into trips/businesses offering wide
points of view.

The Philippines is one of the most unique economies in the East Asia Pacific area, with expanding
urbanization, a developing working class and an enormous and youthful populace, the Philippines
monetary dynamism is established in solid purchaser request upheld by a lively work market and hearty
settlements. Business activities are buoyant with notable performance in the service sector including the
business process outsourcing, real state, finance and insurance industries. Since the Philippine economy
is based on food processing; production of cement, iron and steel and telecommunications among
others. Its jobs is to gracefully the requirements in different nations with regards to rural and mining
area. Philippines hole the extension or just flexibly the insufficiency of different nations when it comes
with regards to deficiency of items and great. Since worldwide monetary movement is the making,
buying and selling of merchandise and ventures in various aspect of the world, Philippine took an
interest in the worldwide financial action by introducing and trading items in various nation.

Therefore, one of the customary jobs played by monetary establishments involves financing of
proficient framework. Another emphasis available situated economy is exceptionally supporting the
progression of capital put predominantly in the private segment. The essential help by most of the
monetary foundations appears to move objective to the advancement of the part by promoting the
quality while limiting the danger in question.

REFERENCES

"ADB History". adb.org. Retrieved 2015-11-26https://borgenproject.org/history-of-the-asian-

developmentbank/#:~:text=Founding%20and%20Early%20History&text=The%20ADB%20was
%20officially%20created,Takeshi%20Watanabe%20residing%20as%20president.

https://en.m.wikipedia.org/wiki/Asian_Development_BankMasatsugu Asakawa Elected ADB President".

2 December 2019. About: Management, adb.org.
https://www.google.com/amp/s/www.financial-dictionary.info/terms/international-financial-
institutions-ifi/

https://www.tradecommissioner.gc.ca/development-developpement/mdb-overview-bmd-apercu.aspx?
lang=eng

https://ivypanda.com/essays/roles-of-international-financial-institutions/

https://www.worldbank.org/en/country/philippines/overview

https://www.nordeatrade.com/fi/explore-new-market/philippines/economical-context