Asian Development Bank (ADB)

Asian Development Bank (ADB)

The Asian Development Bank (ADB) was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.
A resolution passed at the first Ministerial Conference on Asian Economic Cooperation held by the United Nations Economic Commission for Asia and the Far East in 1963 set that vision on the way to becoming reality.
The Philippines capital of Manila was chosen to host the new institution, which opened on 19 December 1966, with 31 members that came together to serve a predominantly agricultural region. Takeshi Watanabe was ADB’s first President.

During the 1960s, ADB focused much of its assistance on food production and rural development.
The Asian Development Bank aims for an Asia and Pacific free from poverty. ADB in partnership with member governments, independent specialists and other financial institutions is focused on delivering projects in developing member countries that create economic and development impact.

As a multilateral development finance institution, ADB provides:

technical assistance
Our clients are our member governments, who are also our shareholders. In addition, we provide direct assistance to private enterprises of developing member countries through equity investments and loans.
ADB maximizes the development impact of its assistance by
facilitating policy dialogues,
providing advisory services, and
mobilizing financial resources through cofinancing operations that tap official, commercial, and export credit sources
Areas of Focus and Results
ADB operations are designed to support the three complementary agendas of inclusive economic growth, environmentally sustainable growth, and regional integration. ADB employs its limited resources in its areas of comparative strength—the core areas of:
Infrastructure (water, energy, transport, urban development, information and communications technology)
Regional cooperation and integration
Finance sector development
ADB also operates on a limited scale in other areas, including
Agriculture and natural resources
Public sector management

How much assistance does ADB provide?

In 2015, loan and grant approvals to ADB’s developing member countries amounted to $16.29 billion, compared to $13.49 billion in 2014. Private sector operations posted a jump to $2.63 billion from $1.92 billion in 2014. ADB mobilized, with donor support, more than $10.74 billion in co-financing, bringing total operations for 2015 to $27.17 billion, the highest in ADB’s history.

From 31 members at its establishment in 1966, ADB has grown to encompass 67 members – of which 48 are from within Asia and the Pacific and 19 outside.

Regional members of Asian Development Bank(ADB)

Members     Year of membership
Afghanistan     1966
Armenia           2005
Australia          1966
Azerbaijan      1999
Bangladesh     1973
Bhutan           1982
Brunei Darussalam     2006
Cambodia     1966
China, People’s Republic of     1986
Cook Islands     1976
Fiji     1970
Georgia     2007
Hong Kong, China     1969
India     1966
Indonesia     1966
Japan     1966
Kazakhstan     1994
Kiribati     1974
Korea, Republic of     1966
Kyrgyz Republic     1994
Lao PDR     1966
Malaysia     1966
Maldives     1978
Marshall Islands     1990
Micronesia, Federated States of     1990
Mongolia     1991
Myanmar     1973
Nauru     1991
Nepal     1966
New Zealand     1966
Pakistan     1966
Palau     2003
Papua New Guinea     1971
Philippines     1966
Samoa     1966
Singapore     1966
Solomon Islands     1973
Sri Lanka     1966
Taipei,China     1966
Tajikistan     1998
Thailand    1966
Timor-Leste     2002
Tonga     1972
Turkmenistan     2000
Tuvalu     1993
Uzbekistan     1995
Vanuatu     1981
Viet Nam     1966
Nonregional members
Members     Year of membership
Austria     1966
Belgium     1966
Canada     1966
Denmark     1966
Finland    1966
France    1970
Germany    1966
Ireland     2006
Italy    1966
Luxembourg     2003
The Netherlands     1966
Norway     1966
Portugal     2002
Spain     1986
Sweden    1966
Switzerland     1967
Turkey     1991
United Kingdom     1966
United States     1966
Asian Development Bank (ADB)