ADB, Asian Development Bank

Asian Development Bank (ADB) is an international development finance institution whose mission is to help its developing member countries reduce poverty and improve the quality of life of their people.

Headquartered in Manila, and established in 1966, ADB is owned and financed by its 67 members, of which 48 are from the region and 19 are from other parts of the globe.

ADB's main partners are governments, the private sector, nongovernment organizations, development agencies, community-based organizations, and foundations.

Under Strategy 2020, a long-term strategic framework adopted in 2008, ADB will follow three complementary strategic agendas: inclusive growth, environmentally sustainable growth, and regional integration.

In pursuing its vision, ADB's main instruments comprise loans, technical assistance, grants, advice, and knowledge.

Although most lending is in the public sector - and to governments - ADB also provides direct assistance to private enterprises of developing countries through equity investments, guarantees, and loans. In addition, its triple-A credit rating helps mobilize funds for development.


The main functions of ADB are:

  • Technical assistance provided to members, so that they can plan and execute development strategies and projects.

  • Assistance to DMCs (Developing Member Countries) to coordinate policies designed for development.

  • Equity investments and loans to member nations.

  • Encouragement to member nations to invest private and public capital for development.

Organizational structure

The highest decision making tier at ADB is its Board of Governors, to which each of ADB's 67 members nominate one Governor and an Alternate Governor to represent them. The Board of Governors meets formally once a year at an Annual Meeting held in a member country.

The Governors' day to day responsibilities are largely delegated to the 12-person Board of Directors, which performs its duties full time at ADB's HQ in Manila.

The ADB President, under the Board's direction, conducts the business of ADB. The President is elected by the Board of Governors for a term of five years and may be reelected.


Membership

From 31 members at its establishment in 1966, ADB has grown to encompass 67 members - of which 48 are from within the Asia and Pacific region and 19 outside. Some member countries enter a new phase in their relationship with ADB as defined under the Classification and Graduation Policy.

Georgia is the 67th and newest member, having joined ADB effective 2 February 2007.

ADB members, capital stock, and voting power are as follows (as of 2 February 2007):


Subscribed Capital

Voting Power  

Members

Year of Membership

Number of Shares

Percent of Total

Number of Votes

Percent of Total

Percent of Reg/Non-reg

Regional Members

Afghanistan

1966

1,195

0.034

14,427

0.325

0.5

Armenia

2005

10,557

0.298

23,789

0.537

0.825

Australia

1966

204,740

5.773

217,972

4.917

7.56

Azerbaijan

1999

15,736

0.444

28,968

0.653

1.005

Bangladesh

1973

36,128

1.019

49,360

1.114

1.712

Bhutan

1982

220

0.006

13,452

0.303

0.467

Brunei Darussalam

2006

12,462

0.351

25,694

0.58

0.891

Cambodia

1966

1,750

0.049

14,982

0.338

0.52

China, People's Republic of

1986

228,000

6.429

241,232

5.442

8.367

Cook Islands

1976

94

0.003

13,326

0.301

0.462

Fiji Islands

1970

2,406

0.068

15,638

0.353

0.542

Georgia

2007

12,081

0.341

25,313

0.571

0.878

Hong Kong, China

1969

19,270

0.543

32,502

0.733

1.127

India

1966

224,010

6.317

237,242

5.352

8.229

Indonesia

1966

192,700

5.434

205,932

4.646

7.143

Japan

1966

552,210

15.571

565,442

12.756

19.612

Kazakhstan

1994

28,536

0.805

41,768

0.942

1.449

Kiribati

1974

142

0.004

13,374

0.302

0.464

Korea, Republic of

1966

178,246

5.026

191,478

4.32

6.641

Kyrgyz Republic

1994

10,582

0.298

23,814

0.537

0.826

Lao PDR

1966

492

0.014

13,724

0.31

0.476

Malaysia

1966

96,350

2.717

109,582

2.472

3.801

Maldives

1978

142

0.004

13,374

0.302

0.464

Marshall Islands

1990

94

0.003

13,326

0.301

0.462

Micronesia, Federated States of

1990

142

0.004

13,374

0.302

0.464

Mongolia

1991

532

0.015

13,764

0.31

0.477

Myanmar

1973

19,270

0.543

32,502

0.733

1.127

Nauru

1991

142

0.004

13,374

0.302

0.464

Nepal

1966

5,202

0.147

18,434

0.416

0.639

New Zealand

1966

54,340

1.532

67,572

1.524

2.344

Pakistan

1966

77,080

2.174

90,312

2.037

3.132

Palau

2003

114

0.003

13,346

0.301

0.463

Papua New Guinea

1971

3,320

0.094

16,552

0.373

0.574

Philippines

1966

84,304

2.377

97,536

2.2

3.383

Samoa

1966

116

0.003

13,348

0.301

0.463

Singapore

1966

12,040

0.34

25,272

0.57

0.877

Solomon Islands

1973

236

0.007

13,468

0.304

0.467

Sri Lanka

1966

20,520

0.579

33,752

0.761

1.171

Taipei,China

1966

38,540

1.087

51,772

1.168

1.796

Tajikistan

1998

10,134

0.286

23,366

0.527

0.81

Thailand

1966

48,174

1.358

61,406

1.385

2.13

Timor-Leste

2002

350

0.01

13,582

0.306

0.471

Tonga

1972

142

0.004

13,374

0.302

0.464

Turkmenistan

2000

8,958

0.253

22,190

0.501

0.77

Tuvalu

1993

50

0.001

13,282

0.3

0.461

Uzbekistan

1995

23,834

0.672

37,066

0.836

1.286

Vanuatu

1981

236

0.007

13,468

0.304

0.467

Viet Nam

1966

12,076

0.341

25,308

0.571

0.878

Total Regional

 

2,247,995

63.390

2,883,131

65.040

100.000

Non-regional Members

Austria

1966

12,040

0.34

25,272

0.57

1.631

Belgium

1966

12,040

0.34

25,272

0.57

1.631

Canada

1966

185,086

5.219

198,318

4.474

12.797

Denmark

1966

12,040

0.34

25,272

0.57

1.631

Finland

1966

12,040

0.34

25,272

0.57

1.631

France

1970

82,356

2.322

95,588

2.156

6.168

Germany

1966

153,068

4.316

166,300

3.752

10.731

Ireland

2006

12,040

0.34

25,272

0.57

1.631

Italy

1966

63,950

1.803

77,182

1.741

4.98

Luxembourg

2003

12,040

0.34

25,272

0.57

1.631

The Netherlands

1966

36,294

1.023

49,526

1.117

3.196

Norway

1966

12,040

0.34

25,272

0.57

1.631

Portugal

2002

12,040

0.34

25,272

0.57

1.631

Spain

1986

12,040

0.34

25,272

0.57

1.631

Sweden

1966

12,040

0.34

25,272

0.57

1.631

Switzerland

1967

20,650

0.582

33,882

0.764

2.186

Turkey

1991

12,040

0.34

25,272

0.57

1.631

United Kingdom

1966

72,262

2.038

85,494

1.929

5.517

United States

1966

552,210

15.571

565,442

12.756

36.487

Total Non-Regional

 

1,298,316

36.610

1,549,724

34.960

100.000

Grand Total

 

3,546,311

100.000

4,432,855

100.000

 

Source: Essay UK - http://turkiyegoz.com/free-essays/economics/asian-development-bank.php


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