Asian Development Bank: Asian Development Bank is an international development finance institution, its mission is to help its developing members’ countries improve the quality of life of their people and reduce poverty. At present, ADB is owned and financed by its 68 members, of which 49 are from the region. Today in this post, we are going to discuss all the details related to Asian Development Bank.
Asian Development Bank: About
The Asian Development bank is a regional development bank established on 19th December 1966, its headquarter is located in Manila, Philippines. ADB has followed three complementary strategic agendas sustainable growth, regional integration & inclusive growth. The bank also maintains 31 field offices around the world to promote social and economic development in Asia. ADB’s main partners are governments, nongovernment organizations, private sectors, and foundations. The main aim of ADB is to reduce poverty in Asia and the pacific through inclusive economic growth, sustainable growth, environmental growth, and regional integration.
Asian Development Bank: Members Countries
Candidates can check the complete list of Asian Development Bank member countries in the given table.
|Asian Development Bank: Members Countries|
|Papua New Guinea||1971|
Areas of Focus
The bank focuses on the key areas of development that are aligned with the World Bank’s sustainable development goals (SDGs). These key areas are:
- Finance Sector
- Climate Change
The ADB aims to provide for sustainable and inclusive economic growth by financing projects in areas like education and health, while also helping improve the capital markets and business infrastructure in target countries. There are other more specialized areas as well, such as Public-Private Partnerships (PPPs), Information Technology, Regional Cooperation and Integration, etc., which serve as secondary capacity building programs.
The Asian Development Bank runs multiple financing programs, which it offers under various categories listed below:
- Sovereign Financing
- Non-Sovereign/Private Financing
FAQs: Asian Development Bank
Q1. Who is the 68th Member of the Asian Development Bank?
Ans. Niue became the 68th Member of the Asian Development Bank in March 2019.
Q2. How many member countries are in Asian Development Bank?
Ans. There are a total of 68 member countries in the Asian Development Bank.
|Current Affairs April 2022|