Asian Development Bank (ADB)

  • The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966.
  • which is headquartered in Ortigas Center located in Mandaluyong, Metro Manila, Philippines, and maintains.
  • It 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.
  • 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%.

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