What is the full form of ADB
ADB: Asian Development Bank
ADB stands for Asian Development Bank. It is a regional development bank that is Asian in character. It was established to reduce poverty and foster economic growth and cooperation in Asia and the Pacific. It assists in the socioeconomic development of member countries by providing loans, grants and technical assistance. It has 67 members, 48 of which are from Asia and the Pacific region. It is headquartered in Mandaluyong, Philippines and as of July 2017, Takehiko Nakao is the president of ADB.
Areas of Focus
ADB operations give emphasis on the following areas:
By funding initiatives in fields like education and health, the ADB seeks to promote sustainable and inclusive economic growth while also assisting in the development of the capital markets and corporate infrastructure in its target nations. There are other, more specialised sectors as well, which are used in secondary capacity-building programmes. Examples include Public-Private Partnerships (PPPs), Information Technology, Regional Cooperation and Integration, etc.
The Functions of the Asian Development Bank:
The Asian Development Bank provides grants, loans, technical assistance, and equity investments to its developing member countries, the private sector, and public-private partnerships in order to boost development. The ADB frequently promotes policy discussions and offers consulting services. Additionally, they make use of co-financing initiatives that draw on official, commercial, and export finance sources while offering assistance.
The ADB is open to members and associate members of the United Nations Economic Commission for Asia and the Far East. It is also open to developing nations that are members of the United Nations or any of its specialised agencies, including other regional nations and non-regional nations.
Asian Development Bank Organisational Chart
The website of ADB claims that "The Board of Governors holds all of the institution's functions, which are delegated in part to the Board of Directors by the Agreement Establishing the Asian Development Bank, or ADB Charter. The Board of Governors holds a conventional gathering once every year during ADB's Annual Meeting. "
The ADB's essential policy-making body is the Board of Governors, which comprises one delegate from every part.
The Asian Development Bank's two largest shareholders are the United States and Japan. Despite coming primarily from the Asia-Pacific area, the developed countries are also well-represented among the Bank's members. Typically, regional development banks work together on projects with the World Bank and the International Monetary Fund (IMF).
The Asian Development Bank is controlled by whom?
A board of governors that represents the ADB's member nations oversees the organisation. The top five shareholders of the ADB as of 2022 are the People's Republic of China (6.4%), India (6.3%), Australia (5.8%), Japan (15.6% each), and the United States.
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