 Established : 1966
Headquarter : Manila, Philippines The Asian Development Bank (ADB) is a regional development bank established in 1966 which is headquartered in Manila, Philippines. A resolution passed at the first Ministerial Conference on United Nations Economic and Social Commission for Asia and the Pacific(ESCAP) in 1963 with initiative to become reality. The Philippines capital of Manila was chosen to host the new institution, which opened on 19 December 1966, with 31 members. Takeshi Watanabe was ADB's first President. The Asian Development Bank aims for an Asia and Pacific free from poverty and mission to help its developing member countries improve their living conditions and quality of life. ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development. ADB Funding ADB raises funds through bond issues on the world's capital markets. Its members' contributions, retained earnings from lending operations, and the repayment of loans. ADB Shareholders ADB’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%). President of the Asian Development Bank (ADB) President elected by Asian Development Bank (ADB) Board of Governors. The President heads a management team comprising a Managing Director General and six Vice-Presidents. The team supervises the work of ADB's operation. Board of Governors Board of Governors ADB's highest policy-making body is the Board of Governors, which comprises one representative from each member Board of Directors The Board of Directors is responsible for the direction of the general operations of the Bank. The 12 Directors of the ADB Board of Directors are elected by the Board of Governors. Sources : ADB |