3. ADB
Type : Regional organization
Formation : 22.Auguest 1966
Purposes/ Focus: Crediting
Headquarters : Mandaluyongcity, Metro Manila, Philippines
Membership:67 countries
Region served : Asia Pacific
4. ADB
The ADB is a Multinational Regional Development Bank .
Established for the purpose of
1. Lending funds
2. Promoting investment
3. Providing technical assistance to the developing countries
4. Fostering the economic growth and co-operation in the Asian region.
Primary aim: Asia and pacific free from poverty.
5. Cont…..
Approximately 1.7 billion people in the region are poor and unable
to access essential goods, services, assets, and opportunities to
which every human is entitled.
The bank operates under the aegis of ECAFE(Economic
Commission for Asia and Far East).
The idea of the ADB was first proposed by the ECAFE in 1963.
The Bank admits the members of the United Nations Economic and
social Commission for Asia and pacific and Non-regional developed
countries.
6. VISION AND MISSION
Vision
An Asia and Pacific free of poverty.
Mission
To help its developing member countries reduce poverty and improve the quality of
life of their people.
7. Members
Established with 31 members
At present 67 members.
48 are from within Asia and the pacific.
19 from outside.
Bangladesh signed ADB in 1973 after the liberation war.
Georgia is the 67th and newest member, having joined ADB effective 2 feb
2007
9. Objectives
The objectives of ADB as follows
To foster economic growth.
To cooperate member countries.
To accelerate the process of economic development.
To make Asia and pacific free from poverty.
10. Functions
To promote investment in the ECAFE region of public and private
capital for development purposes.
provide loans and equity investments to its developing member
countries (DMCs).
Provide technical assistance for the planning and execution of
development projects and programs for advisory services.
Assists in coordinating development policies and plans of its
DMCs
12. Areas of work
Agriculture
Education
Energy
Finance
Health
Industry and trade
Information and communication
technology
Public sector management
Social protection
Transport
water
13. ADB and India
India became a member of the Asian Development bank (ADB) as a
founding member in 1966 and its fourth largest shareholder.
India is holding 6.33% of shares, totaling 672,030 shares , in ADB as on 31st
December , 2012
India has 5.36% voting rights.
ADB holds Annual meeting in a member country in late April or early May
every year. 46th annual meeting of the ADB is being hosted by India during 2-
5 May, 2013 in New Delhi.
14. Organization and management
President- Elected by the board for a term of five years, responsible for the
operations of the Bank.
Vice president
Board of governors- This Board is the policy making body and it meets once a year .
Board of directors- 12 members, responsible for the day to day functioning of the
bank.
8 members representing the member countries of the region.
4 members representing non regional member countries.
15. Source of finance
Issue bond on the world’s capital market.
Members contributions.
Retained earnings from its lending operations.
Repayment of loans.
The bank has 3 special funds namely
1. Asian development fund.
2. The multipurpose special fund.
3. Technical assistance fund.
16. Conlusion
In short, the Asian development bank is a
regional development bank which was established in for the purpose of
fighting poverty in Asia and the pacific.