The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 which is headquartered in Metro Manila, Philippines to facilitate economic development of countries in Asia.The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members - of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with member's capital subscriptions.
By the end of 2013, Japan holds the largest proportions of shares at 15.67%. The United States holds 15.56%, China holds 6.47%, India holds 6.36%, and Australia holds 5.81%.
| Motto | Fighting poverty in Asia and the Pacific |
|---|---|
| Formation | 22 August 1966 |
| Type | Regional organization |
| Legal status | Treaty |
| Purpose | Crediting |
| Headquarters | Mandaluyong City, Metro Manila, Philippines |
| Region served | Asia-Pacific |
| Membership | 67 countries |
| President | Takehiko Nakao |
| Main organ | Board of Directors |
| Website | http://www.adb.org |
3 comments:
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Need of Improvement!
Way too late...
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