Asian Development Bank
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The Asian Development Bank (ADB) is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries through loans and technical assistance.It is a multilateral development financial institution owned by 65 members, 47 from the region and 18 from other parts of the globe. ADB's vision is a region free of poverty. Its mission is to help its developing member countries reduce poverty and improve the quality of life of their citizens.
The work of the Asian Development Bank (ADB) is aimed at improving the welfare of the people in Asia and the Pacific, particularly the 1.9 billion who live on less than $2 a day. Despite many success stories, Asia and the Pacific remains home to two thirds of the world's poor.
Organization
The highest policy-making body of the bank is the Board of Governors composed of one representative from each member state. The Board of Governors, in turn, elect among themselves the 12 members of the Board of Directors and their deputy. Eight of the 12 members come from regional (Asia-Pacific) members while the rest come from non-regional members.The Board of Governors also elect the bank's President who is the chairperson of the Board of Directors and manages ADB. The president has a term of office lasting five years, and may be reelected. Traditionally, and because Japan is one of the largest shareholders of the bank, the President has always been Japanese. The current President is Haruhiko Kuroda.
The headquarters of the bank is at 6 ADB Avenue, Mandaluyong City, Metro Manila, Philippines, and it has representative offices around the world. The bank employs approximately 2,400 people, coming from 53 of its 65 member countries, and with more than half of the staff being Filipino.
Notable projects of the ADB
- Trans-Afghanistan Pipeline
- Earthquake and Tsunami Emergency Support Project in Indonesia
- Greater Mekong Subregional Program
- Strategic Private Sector Partnerships for Urban Poverty Reduction in Philippines
Members
Names are indicated as it is recognized by the ADB. The number after the member's name indicate the year of membership.|}
Notes
External links
- The ADB website: http://www.adb.org
- ADB Institute: http://www.adbi.org
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