Asian Development Bank

Asian Development Bank
AbbreviationADB
Formation19 December 1966; 57 years ago (1966-12-19)
TypeMultilateral Development Bank
Legal statusTreaty
PurposeSocial and Economic Development
Headquarters6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines
Region served
Indo-Pacific
Membership
68 countries
President
Masatsugu Asakawa
Main organ
Board of Governors[1]
AffiliationsInternational Monetary Fund (International)
Staff3,769[2]
Websiteadb.org Edit this at Wikidata
Asian Development Bank member states
  Outside regions
  Asia-Pacific region

The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966,[3] which is headquartered in 6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines. The bank also maintains 31 field offices around the world[4] to promote social and economic development in Asia. The bank admits the members of the UN 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.[5] Starting with 31 members at its establishment, ADB now has 68 members.

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. ADB releases an annual report that summarizes its operations, budget, and other materials for review by the public.[6] The ADB-Japan Scholarship Program (ADB-JSP) enrolls about 300 students annually in academic institutions located in 10 countries within the Region. After completing their study programs, scholars are expected to contribute to the economic and social development of their home countries.[7] ADB holds the status of an official United Nations Observer.[8]

As of 31 December 2020, Japan and the United States each holds the largest proportion of shares at 15.571%. China holds 6.429%, India holds 6.317%, and Australia holds 5.773%.[9]

  1. ^ About: Management Archived 23 June 2020 at the Wayback Machine, adb.org.
  2. ^ ADB Annual Report 2022 (PDF). Asian Development Bank. 2023. p. 10. doi:10.22617/FLS230039. ISBN 978-92-9270-073-7. Retrieved 1 April 2024.
  3. ^ "ADB History". Asian Development Bank. Archived from the original on 29 January 2016. Retrieved 26 November 2015.
  4. ^ "Departments and Offices". Asian Development Bank. Archived from the original on 17 March 2012. Retrieved 26 November 2015.
  5. ^ Ming, Wan (Winter 1995–1996). "Japan and the Asian Development Bank". Pacific Affairs. 68 (4). University of British Columbia: 509–528. doi:10.2307/2761274. JSTOR 2761274. Archived from the original on 7 August 2011.
  6. ^ Anonymous. "ADB Annual Reports". Asian Development Bank. Archived from the original on 26 November 2015. Retrieved 26 November 2015.
  7. ^ "Scholarship Program: List of Academic Institutions". Asian Development Bank. 12 October 2017. Archived from the original on 19 May 2017. Retrieved 28 April 2017.
  8. ^ "Intergovernmental Organizations". United Nations. Archived from the original on 23 May 2017. Retrieved 28 April 2017.
  9. ^ "Shareholders" (PDF). Asian Development Bank. Archived from the original (PDF) on 3 August 2017. Retrieved 26 November 2015.