ASIAN DEVELOPMENT BANK
The Asian Development Bank, popularly known as the ADB, is a multinational regional
development bank established for the purpose of lending funds, promoting investment, and
providing technical assistance to the developing member countries, and generally for fostering
economic growth and co-operation in the Asia region. The Charter of the Bank was ratified by
the majority of the signatory countries in early 1966 and it was established in Manila in
December 1966. The Bank operates under the aegis of Economic Commission for Asia and the
Far East (ECAFE). Since the idea of the ADB was first proposed by the ECAFE in 1963, the speed
with which it has been established represents good achievement by its architects and sponsors.
The ADB has two significant features. Firstly, it is an Asian Bank, conceived by the United
Nations Economic Commission for Asia and the Far East (ECAFE). Its headquarters are located in
the ECAFE region in Manila in Philippines. More than 60 per cent of the ADB's capital is
subscribed by its 32 regional members. The President and seven of the ten directors also come
from the region. Secondly, unlike certain regional financial institutions, the membership of the
Bank extends beyond the region.
The Asian Development Bank, popularly known as the ADB, is a multinational regional
development bank established for the purpose of lending funds, promoting investment, and
providing technical assistance to the developing member countries, and generally for fostering
economic growth and co-operation in the Asia region. The Charter of the Bank was ratified by
the majority of the signatory countries in early 1966 and it was established in Manila in
December 1966. The Bank operates under the aegis of Economic Commission for Asia and the
Far East (ECAFE). Since the idea of the ADB was first proposed by the ECAFE in 1963, the speed
with which it has been established represents good achievement by its architects and sponsors.
The ADB has two significant features. Firstly, it is an Asian Bank, conceived by the United
Nations Economic Commission for Asia and the Far East (ECAFE). Its headquarters are located in
the ECAFE region in Manila in Philippines. More than 60 per cent of the ADB's capital is
subscribed by its 32 regional members. The President and seven of the ten directors also come
from the region. Secondly, unlike certain regional financial institutions, the membership of the
Bank extends beyond the region.
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