Asian Development Bank Headquarters
Asian Development Bank (ADB) is regional Development Bank established on 19th December 1966, which is headquartered in Ortigas centre located in the City Mandaluyong Metro Manila Philippines. The bank admits the members of the United Nations economic and social Commission Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non regional developed countries.
From 31 members at its establishment ADB now has 68 members. ADB assists its members and partners by providing loans, technical assistance, grants and equity assistance to promote social and economic development.
AADM maximizes the development impact of its assistance by facilitating policy dialogues, providing advisory services, and mobilizing financial resources through cofinancing operating operations that tap official, commercial, and export credit sources.
ADB is an official United Nations Observer.
Asian Development Bank
The highest policy making body of the bank is the board of governors, composed of one representative from each member to state. The board of governors, in turn, elect among themselves, the twelve members of board of directors and their deputies. The Board of Governors also elect the bank’s president who is the chairperson of the board of directors and managers ADB. The current President is Masatsugu Asakawa. He succeeded Takehiko Nakao on 17th January 2020. ADB recently appointed former election commissioner Ashok Lavasa as its vice president for its private sector operations and public private partnership.
ADB and India
India started availing of ADB’s assistance in 1986. The aim of Asian Development Bank is to support India in the following fields:
- Industrial Competitiveness
- Jobs Creation
- Growth Acceleration of Low Income States
- Environmental and Climate Change Challenges
There are sex sectors in India where we can see ADB’s presence:
- Water and Urban Services
- Finance and Public Sector Management
- Agriculture and Natural Resources
- Human Development
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ADB Projects in India
The projects in India spanning 25 states where ADB has assisted/ is assisting are:
- Railways and Mass Rapid Transit System
- Renewable energy and Energy efficiency
- Coastal protection
- Riverbank strengthening and river basin management
- urban environmental management including water management sanitation and sewerage and solid waste management
Asian Development Bank: FAQs
Q. Where is the Headquarter of the Asian Development Bank?
Ans. Headquarter of Asian Development Bank is located in Manilla, Phillipines.
Q. Who is the current President of ADB?
Ans. The current President of Asian Development Bank is Masatsugu Asakawa.