Asian Development Bank

ADB Full Form

ADB Full Form is Asian Devel­op­ment Bank. It is a region­al devel­op­ment bank that is Asian in char­ac­ter. It was estab­lished to reduce pover­ty and boost eco­nom­ic growth and coop­er­a­tion in Asia and the Pacif­ic. It helps in the devel­op­ment of mem­ber coun­tries by pro­vid­ing grants loans and tech­ni­cal assis­tance. It has. It’s head­quar­tered at Orti­gas Cen­ter Man­daluy­ong, Metro Mani­la, Philip­pines as of August 2018, Take­hiko Nakao is the pres­i­dent of ADB. and Mem­ber over 67 coun­tries.

Areas of Focus-

ADB oper­a­tions give empha­sis on these areas :

  1. Infra­struc­ture
  2. Envi­ron­ment
  3. Instruc­tion
  4. Region­al inte­gra­tion
  5. Finance Sec­tor devel­op­ment

Brief History

  • The Notion of Asian Devel­op­ment Bank con­ceived in the ear­ly 1960s. After­ward, there was a res­o­lu­tion passed at the Min­is­te­r­i­al Con­fer­ence on Asian Finan­cial Insti­tu­tion in 1963 to launch the ADB.
  • About 19 Decem­ber 1966, ADB was estab­lished with 31 mem­bers and Takeshi Watan­abe as its first Pres­i­dent. Ini­tial­ly, ADB was focused on Food rur­al devel­op­ment and pro­duc­tion.
  • In 1970, ADB’s first bond issue worth $16.7 mil­lion reg­is­tered in Japan.(Read Also :ADIDAS Full Form)
  • In 1974, the Asian Devel­op­ment Fund was estab­lished to present low-inter­est loans to the poor­est mem­ber states.
  • In 1982, it opened its first field office in Bangladesh to come clos­er to the peo­ple in need.
  • In mid-1997, dur­ing the severe finan­cial cri­sis in the region, it Start­ed projects to strength­en the finan­cial sec­tor, i.e. it accept­ed Its largest loan worth $ 4 bil­lion to the Repub­lic of Korea.
  • In 2004, it spent more than $800 mil­lion for the retrieval of areas struck by Tsuna­mi in Sri Lan­ka, India, Indone­sia, and the Mal­dives.
  • In 2008, it estab­lished a brand new long-term strat­e­gy framework’Strategy 2020’ to react to the chang­ing needs of the region.
  • In 2014, a midterm review of this ? Strat­e­gy 2020 ? Was pub­lished and Var­i­ous orga­ni­za­tion­al changes have been intro­duced to enhance the small busi­ness Pro­ce­dures and to become bet­ter and stronger.