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The Asian Development Bank (ADB) is a global development finance agency whose aim is to help developing member countries in reducing poverty and improving people’s quality of life.
The Asian Development Bank (ADB) came into existence in 1966 and it is headquartered in Manila, Philippines. It aids to push social and economic development by providing loans, technical assistance, grants, and equity investments. Asian Development Bank is owned and financed by its 68 members, 49 of them are from the region.
ADB’s key partners are governments, the commercial sector, non government organizations, development agencies, community-based groups, and foundations. ADB will follow three complementing strategic agendas: inclusive growth, ecologically sustainable growth, and regional integration, as outlined in Strategy 2020, a long-term strategic framework approved in 2008.The major objective of the Asian Development Bank is to ensure market prosperity and enhance collaboration among Asia-Pacific countries.
The ADB oversees significant projects within the region and sometimes raises funding through international bond markets.
To promote development, the Asian Development Bank provides grants, loans, technical support, and equity investments to its developing member nations, the private sector, and public-private partnerships. They also use co-financing activities to supply support while tapping official, commercial, and export finance sources.
Members and associate members of the international organisation Economic Commission for Asia and the Far East are eligible to affix the ADB.
Other regional and non-regional developed countries that are members of the United Nations or any of its specialised agencies are eligible.
