Current Affairs

Asian Development Bank (ADB)


Asian Development Bank (ADB)

 

·       It is a regional development bank.

·       established on 19 December 1966.

·       headquartered — Manila, Philippines.

·       official United Nations Observer.

·       ADB has 68 members of which 43 from 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.

 

ADB’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%)

Asian Development Bank (ADB)