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):
Mandaluyong City, Metro Manila, Philippines
19 December 1966
Total member countries
67 (as per information received till February 2, 2007)
Masatsugu Asakawa (Japan)
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)
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.
Year of Membership
Lao People's Democratic Republic
Republic of Korea
Hong Kong, China
Papua New Guinea
People's Republic of China
Federal States of Micronesia
Brunei Dar es Salaam
Non Regional members
Year of Membership
Asian Development Bank FAQs:
in Mandaluyong, Philippines
Rate of interest
Acceptance of confirmed collateral
cash reserve ratio
Jammu and Kashmir