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Asian Development Bank

Asian Development Bank
Adb-logo-block.jpg
ADB logo
Motto Fighting poverty in Asia and the Pacific
Formation 19 December 1966
Type Multilateral Development Bank
Legal status Treaty
Purpose Social and economic development
Headquarters Mandaluyong, Metro Manila, Philippines
Region served
Asia-Pacific
Membership
67 countries
President
Takehiko Nakao
Main organ
Board of Governors
Staff
2997 employees
Website http://www.adb.org

The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in Mandaluyong, Metro Manila, Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members, of which 48 are from within Asia and the Pacific and 19 outside. The ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members' capital subscriptions. ADB releases an annual report that summarizes its operations, budget and other materials for review by the public.

At the end of 2014, Japan holds the largest proportion of shares at 15.7%. The United States holds 15.6%, China holds 6.5%, India holds 6.4%, and Australia holds 5.8%.

The highest policy-making body of the bank is the Board of Governors, composed of one representative from each member state. The Board of Governors, in turn, elect among themselves the twelve members of the Board of Directors and their deputies. Eight of the twelve members come from regional (Asia-Pacific) members while the others come from non-regional members.

The Board of Governors also elect the bank's president, who is the chairperson of the Board of Directors and manages ADB. The president has a term of office lasting five years, and may be reelected. Traditionally, and because Japan is one of the largest shareholders of the bank, the president has always been Japanese.

The current president was Takehiko Nakao, who succeeded Haruhiko Kuroda in 2013.

The headquarters of the bank is at 6 ADB Avenue, Mandaluyong, Metro Manila, Philippines, and it has 25 field offices in Asia and the Pacific and representative offices in Washington, Frankfurt, Tokyo and Sydney. The bank employs about 3,000 people, representing 60 of its 67 members.


  • Education - Most developing countries in Asia and the Pacific have earned high marks for a dramatic rise in primary education enrollment rates in the last three decades, but daunting challenges remain, threatening economic and social growth.
  • Environment, Climate Change, and Disaster Risk Management - Environmental sustainability is a prerequisite for economic growth and poverty reduction in Asia and the Pacific.
  • Finance Sector Development - The financial system is the lifeline of a country’s economy. It creates prosperity that can be shared throughout society and benefit the poorest and most vulnerable people. Financial sector and capital market development, including microfinance, small and medium-sized enterprises, and regulatory reforms, is vital to decreasing poverty in Asia and the Pacific.
  • Infrastructure, including transport and communications, energy, water supply and sanitation, and urban development.
  • Regional Cooperation and Integration - Regional cooperation and integration (RCI) was introduced by President Kuroda when he joined the ADB in 2004. It was seen as a long-standing priority of the Japanese government as a process by which national economies become more regionally connected. It plays a critical role in accelerating economic growth, reducing poverty and economic disparity, raising productivity and employment, and strengthening institutions.
  • Private Sector Lending - This priority was introduced into the ADB's activities at the insistence of the Reagan Administration. However, that effort was never a true priority until the administration of President Tadeo Chino who in turn brought in a seasoned American banker - Robert Bestani. From then on, the Private Sector Operations Department (PSOD) grew at a very rapid pace, growing from the smallest financing unit of the ADB to the largest in terms of financing volume. As noted earlier, this culminated in the Long Term Strategic Framework (LTSF) which was adopted by the Board in March 2008.
  • Afghanistan: Hairatan to Mazar-e-Sharif Railway Project
  • Armenia: Water Supply and Sanitation Sector Project
  • Bhutan: Green Power Development Project
  • India: Rural Roads Sector II Investment Program
  • Indonesia: Vocational Education Strengthening Project
  • Lao People’s Democratic Republic: Northern and Central Regions Water Supply and Sanitation Sector Project
  • Mongolia: Food and Nutrition Social Welfare Program and Project
  • Solomon Islands: Pacific Private Sector Development Initiative
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