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:
loans
technical assistance
grants
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)
Environment
Regional cooperation and integration
Finance sector development
Education
ADB also operates on a limited scale in other areas, including
Health
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)