Asian Development Bank - Explained
What is the Asian Development Bank?
Written by J. Mance Gordon
Updated at April 18th, 2022
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Table of Contents
What is the Asian Development Bank?What Does the Asian Development Bank Do?Shareholders of the Asian Development BankWhat is the Asian Development Bank?
The Asian Development Bank was founded on 19 December 1966, with the aim of fostering economic development and cooperation among countries in the Asian and Pacific Region. ADB has its headquarters in Manila, Philippines, it is an organization prides itself as a social development organization. ADB has executed numerous projects since its establishment including the provision of financial aid for rural development and food production in the member countries. ADB raises capital for its projects through the contributions of member countries and also the international bond markets.
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What Does the Asian Development Bank Do?
The Asian Development Bank promotes sustainable growth and development in the Asian and Pacific Region. It fosters economic cooperation and integration among member countries. ABD also offers financial assistance to member countries through loans, grants, technical aid and other forms of aid. The Asian Development Bank generates capital through various means such as retained earnings on lending offered to member countries, trading of bonds in the international bond markets and others.
Shareholders of the Asian Development Bank
The United States and Japan are the two largest shareholders of the Asian Development Bank. There are other shareholders of this organization in addition to the two giants. Naturally, member countries of ABD are shareholders in the organization. Members countries are countries from the Asian and Pacific Region.