Asian Development Bank

Asian Development Bank Latest News

Recently, the Asian Development Bank announced a $70 billion programme to expand energy and digital infrastructure across the ​Asia-Pacific region by 2035. 

About Asian Development Bank

• It is a multilateral development bank established on 19th December 1966.
• It is the principal international development finance institution for the Asia-Pacific region.
• It envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region.
• Its membership is open to other regional countries and non-regional developed countries that are members of the U.N. or of any of its specialized agencies.
• Members: 69 (50 regional, 19 non-regional).
• Headquarters: Manila, Philippines.

‹ ›

Governance of Asian Development Bank

• Board of Governors: One representative from each member country; top policy-making body.
• Board of Directors: Twelve directors manage operations; eight from regional members, four from non-regional members.
• President: Chairs the Board of Directors and manages ADB
• Voting System: Weighted voting based on each country’s capital contribution.
  • Key Shareholders: Five shareholders are Japan and the USA (each with 15.6% of total shares), China (6.4%), India (6.3%), and Australia (5.8%).

Functions of Asian Development Bank

• Provides Loans: It provides loans and grants to member countries for development projects in infrastructure, social sectors, and environmental sustainability.
• Technical Assistance: It offers technical assistance and advisory services to improve policy-making, governance, and institutional capacity.
• Regional Cooperation: It promotes regional cooperation and integration by funding cross-border projects and encouraging trade and investment.
• Supports private sector: It supports development of private sector by providing financing, guarantees, equity, and mezzanine funds for socially beneficial projects.

Source: Reuters