Asian Development Bank
A multilateral development finance institution established in 1966 to promote economic and social progress in the Asian and Pacific region, the Bank’s strategic objectives are to foster economic growth, reduce poverty, improve the status of women, support human development (including population planning) and protect the environment.
The bank’s capital stock is owned by 67 member countries, 48 regional and 19 non-regional. The bank makes loans and equity investments, and provides technical assistance grants for the preparation and execution of development projects and programmes; promotes investment of public and private capital for development purposes; and assists in co-ordinating development policies and plans in its developing member countries (DMCs).
The bank gives special attention to the needs of smaller or less developed countries, giving priority to projects that contribute to the economic growth of the region and promote regional co-operation. Loans from ordinary capital resources on non-concessional terms account for about 80% of cumulative lending. Loans from the bank’s principal special fund, the Asian Development Fund, are made on highly concessional terms almost exclusively to the poorest borrowing countries.
Regional members. Afghanistan, Armenia, Australia, Azerbaijan, Bangladesh, Bhutan, Brunei, Cambodia, China, Cook Islands, Fiji, Georgia, Hong Kong, India, Indonesia, Japan, Kazakhstan, Kiribati, South Korea, Kyrgyzstan, Laos, Malaysia, Maldives, Marshall Islands, Micronesia, Mongolia, Myanmar, Nauru, Nepal, New Zealand, Pakistan, Palau, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Sri Lanka, Taiwan, Tajikistan, Thailand, Timor-Leste, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu and Vietnam.
Non-regional members. Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, UK, USA.
Organization. The bank’s highest policy-making body is its Board of Governors, which meets annually. Its executive body is the 12-member Board of Directors (each with an alternate), eight from the regional members and four non-regional. The ADB has resident missions in a number of countries. There are also three representative offices: in Tokyo, Frankfurt and Washington, D.C.
Official language: English.
Headquarters: 6 ADB Avenue, Mandaluyong, Metro Manila, Philippines.
President: Takehiko Nakao (Japan).