Asian Development Bank
Asian Development Bank At A Glance
The Asian Development Bank is a multilateral development finance institution established to contribute to improving livlihoods in Asia and the Pacific.
The Asian Development Bank (ADB) was officially established on December 3, 1965, to function as a financial institution that would be “Asian in character and foster economic growth and cooperation in the region.” Originally focusing on rural development and food production, the ADB has shifted its focus to emphasize poverty reduction and currently has five core areas of operations: infrastructure, the environment, regional cooperation and integration, finance sector development and education. With 48 regional members and 19 non-regional members, the ADB distributed $21.02 billion in approved financing in 2013 alone. ADB raises funds through bond issues on global capital markets, member contributions, retained earnings from lending operations and loan repayments. It is one of the five multilateral development banks (MDBs); the remaining MDBs are the World Bank, the African Development Bank, the European Bank for Reconstruction and Development and the Inter-American Development Bank. Within the ADB, there are a number of separate “special funds” available for development initiatives, including the Asian Development Fund, the Technical Assistance Special Fund, the Japan Special Fund, the Asian Development Bank Institute, the Pakistan Earthquake Fund, the Regional Cooperation and Integration Fund, the Climate Change Fund, the Asia Pacific Disaster Response Fund and the Grant Co-financing Activities.