Asian Development Bank (ADB) - Establishment & Functions

Asian Development Bank (ADB) - Establishment & Functions

- Established on 22 Aug 1966

- Type of organization - Regional economical development organization

- Headquarter - Manila, Philippines

-Members - 67 members

- President - Takehiko Nakao

- Functioning - 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%.

- Strategy 2020 is The Long-Term Strategic Framework of the Asian Development

Objectives

1. Promote investment for development

2. Lends money to member countries for developmental projects

3. Technical assistance

4. Act as financial intermediary

5. Public resource mobilization