Asian Development Bank

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Contents

Mission & Background

"Asian Development Bank is an organization based in Mandaluyong City, Philippines 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 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.

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."

History

"ADB was conceived amid the postwar rehabilitation and reconstruction of the early 1960s. The vision was of a financial institution that would be Asian in character and foster economic growth and cooperation in the region - then one of the poorest in the world.

The Philippines capital of Manila was chosen to host the new institution - the Asian Development Bank - which opened its doors on 19 December 1966, with 31 members to serve a predominantly agricultural region.

Through the years, ADB's work and assistance levels has expanded alongside its membership as the region has undergone far-reaching changes.

As 2007 drew to a close, ADB celebrated 41 years of fruitful cooperation with the governments and peoples of the Asia and Pacific region. It could look back on phenomenal economic growth in the region alongside abiding development challenges."

Programs

Central Asia Regional Economic Cooperation (CAREC)

"A partnership of eight countries and six multilateral institutions working to promote development through cooperation, leading to accelerated economic growth and poverty reduction. By promoting and facilitating regional cooperation in the priority areas of transport, trade facilitation, trade policy, and energy, CAREC helps Central Asian and neighboring countries realize their immense potential in an increasingly integrated Eurasia. The Program is a proactive facilitator of practical, results-based regional projects and policy initiatives critical to trade expansion and sustainable development.

The eight CAREC countries are Afghanistan, Azerbaijan, the People's Republic of China, Kazakhstan, the Kyrgyz Republic, Mongolia, Tajikistan, and Uzbekistan.

The Program's six multilateral partners are the Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), International Monetary Fund (IMF), Islamic Development Bank (IsDB), United Nations Development Programme (UNDP), and the World Bank.

As the reintegration of the Eurasian continent gathers speed, the CAREC countries are poised to reap substantial benefits. With the rapid economic expansion of the People's Republic of China and Japan to the east, Russian Federation to the north, and India and Pakistan to the south, there is a real and growing demand for improved connections between Europe and Asia."

Projects

Current & Projected Projects

Resources

Tools

Programs


References

  1.  "Asian Development Bank"