Prelims cum Mains

ADB- Asian Development Bank

Website  https://adb.org
Type Multilateral Development Bank
Legal status Via Treaty
Mission/motto/Objective Dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration

 

Socio Economic Development of Asia pacific Region

Estb. Year 19th December, 1966
HQ Manila, Philippines
Members | Region 68 [as of May 2020]

Note– 49 from Asia pacific, 19 from other region, Niue is the latest one to join from Asia Pacific in 2019

About
    • Modelled on World Bank
    • Weighted voting system
      • Votes are distributed as per country’s capital subscription
      • Japan & USA are major Donor
        • Note – Japan & USA are not part of AIIB as of May 2020
    • It borrows from international markets with its capital as guarantee
    •  India has about 5.386% voting rights (4th highest; Japan highest, USA 2nd highest, 3rd China)
Org. Structure
    • Board of Governors
Powers & function
    • ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
    • ADB operations are designed to support the three complementary agendas of inclusive economic growth, environmentally sustainable growth, and regional integration.
Reports Published
Other Details
    • There has been criticism that ADB’s large scale projects cause social and environmental damage due to lack of oversight
    • In India projects taken care by ADB are solar transmission sector project, transmission improvement projects in Odisha and Tamil Nadu, Madhya Pradesh Skill Development Project etc.
Recent Developments

Why to read NOW ?

      • As from 17 January 2020, Masatsugu Asakawa is the president of ADB

 

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