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The Asian Development Bank is a regional development bank that provides financial assistance and technical support to countries in Asia and the Pacific to help them reduce poverty and promote economic development. It matters because it finances infrastructure projects, policy reforms, and other development initiatives that improve living standards and economic growth across the region.
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The Asian Development Bank (ADB) is a regional development bank to promote social and economic development in Asia. The bank is headquartered in the city of Mandaluyong, in Metro Manila, Philippines, and maintains 31 field offices around the world.
The bank was established on 19 December 1966 and admits the members of the UN Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE), and non-regional developed countries. Starting with 31 members at its establishment, by 2019 ADB had 69 members.
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Asian Development BankBanking institutesBanks established in 1966Development in AsiaIntergovernmental organizations established by treatyInternational banking institutionsInternational development multilateralsMultilateral development banksOrganizations based in ManilaSupranational banksUnited Nations General Assembly observers