Important information about Asian Development Bank (ADB)

What is the Asian Development Bank called?

The Asian Development Bank is a regional development bank, established on 19 December 1966 to facilitate the economic development of Asian countries. The bank includes members of the United Nations Economic Commission for Asia and the Far East (now UNESCAP) and non-regional developed countries. When the total number of member states was 31 at the time of ADB's founding, ADB now has 68 member states – 49 of which are from Asia and the Pacific and 19 are external member states. The Asian Development Bank (ADB) is headquartered at 6 ADB Avenue, Mandaluyong City, Metro Manila, Philippines and has representative offices spread around the world.

Quick Info about Asian Development Bank (ABD):

The headquarters Mandaluyong City, Metro Manila, Philippines
Establishment 19 December 1966
Total member countries 67 (as per information received till February 2, 2007)
Current president Masatsugu Asakawa (Japan)
First president Takeshi Watanabe (Japan)

Objectives of Asian Development Bank:

ADB defines itself as a social development organization dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable development and regional integration. is devoted. This is done through investments – in the form of loans, grants and the exchange of information – in infrastructure, health care services, financial and public governance systems, helping nations prepare for the effects of climate change.

Present Managing Director of Asian Development Bank:

The current President of Asian Development Bank is Masatsugu Asakawa. He has also held various positions in other international agencies. Between 1999 and 2000, he served as the head of the Technical Support Management Unit in the International Monetary Fund's Department of Financial Affairs. He has also held several positions in the Committee on Financial Affairs, OECD, while serving concurrently in his financial duties in the Ministry of Finance.

On 2 December 2019, it was announced that Asakawa had been unanimously elected to the Board of Governors of the Asian Development Bank. Elected by the Governors of the Asian Development Bank) as the 10th President of the Bank. In September 2019, the Japanese government nominated Asakawa as the candidate for the position of President ADB. Former ADB President, Takehiko Nakao announced that he would retire as ADB President on 16 January 2020, so Asakawa took over as ADB President on 17 January 2020. The President of the Asian Development Bank is elected by the Board of Governors and holds a term of office.

The ADB president is five years old. Until now, all of ADB's presidents have been from Japan, as Japan is one of the largest shareholders of the bank. As of February 2018, both the United States and Japan hold 552,210 shares, accounting for 12.756 percent of the total shares.

List of Presidents of Asian Development Bank: (1966-2022)

Name Tenure period Country
Takeshi Watanabe 1966–1972 Japan
Shiro Inoue 1972–1976 Japan
Taroichi Yoshida 1976–1981 Japan
Masao Fujioka 1981–1989 Japan
Kimimasa Tarumizu 1989–1993 Japan
Mitsuo Sato 1993–1999 Japan
Tadao Chino 1999–2005 Japan
Haruhiko Kuroda 2005–2013 Japan
Takehiko Nakao 2013–2020 Japan
Masatsugu Asakawa 2020–present Japan

Member countries of the Asian Development Bank

ADB Member States From its 31 members in 1966, ADB has grown to include 68 members – 49 from within Asia and the Pacific and 19 from outside. The year following the member's name indicates the year of membership. At the time a country ceases to be a member, the bank shall arrange for the repurchase of the shares of such country by the bank as part of the settlement of accounts with such country in accordance with the provisions of paragraphs 3 and 4 of Article 43.

                                             Regional members
Member Country Year of Membership
Afghanistan 1966
Australia 1966
Cambodia 1966
India 1966
Indonesia 1966
Japan 1966
Lao People's Democratic Republic 1966
Malaysia 1966
Nepal 1966
New Zealand 1966
Pakistan 1966
Philippines 1966
Republic of Korea 1966
Samoa 1966
Singapore 1966
Sri Lanka 1966
Taipei, China 1966
Thailand 1966
Vietnam 1966
Hong Kong, China 1969
Fiji 1970
Papua New Guinea 1971
Tonga 1972
Bangladesh 1973
Myanmar 1973
Solomon Islands 1973
Kiribati 1974
Cook Islands 1976
Maldives 1978
Vanuatu 1981
Bhutan 1982
People's Republic of China 1986
Federal States of Micronesia 1990
Marshall Islands 1990
Mongolia 1991
Nauru 1991
Tuvalu 1993
Kazakhstan 1994
Kyrgyz Republic 1994
Uzbekistan 1995
Tajikistan 1998
Azerbaijan 1999
Turkmenistan 2000
Timor-Leste 2002
Palau 2003
Armenia 2005
Brunei Dar es Salaam 2006
Georgia 2007
New 2019
                                           Non Regional members
Member Country Year of Membership
Austria 1966
Belgium 1966
Canada 1966
Denmark 1966
Finland 1966
Germany 1966
Italy 1966
Netherlands 1966
Norway 1966
Sweden 1966
United Kingdom 1966
United States 1966
Switzerland 1967
France 1970
Spain 1986
Turkey 1991
Portugal 2002
Luxembourg 2003
Ireland 2006

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Asian Development Bank FAQs:

The Government of India and the Asian Development Bank (ADB) have signed a $300 million loan agreement to finance reforms in West Bengal to improve the quality of public services in the state.

The headquarters of the Asian Development Bank is located in Manila (Philippines). The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966 to facilitate the economic development of Asian countries.

For India, Andhra Pradesh is the biggest beneficiary of the loans the state received from the Asian Development Bank for the improvement of national highways.

Bank money is an economic term that refers to the cash held by banks and the common representations of cash (such as deposits, loans, bank account balances, etc.). It is usually defined as a pooled amount of economic resources for financial bodies and other organizations.

The State of Jammu and Kashmir is outside the jurisdiction of the Reserve Bank of India in regulating banking activities.

  Last update :  Tue 13 Sep 2022
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  Post Category :  International Organizations