What Is the Asian Development Bank?
Founded in 1966, the Asian Development Bank's (ADB) headquarters are in Manila, Philippines. The Asian Development Bank's primary mission is to foster growth and cooperation among countries in the Asia-Pacific Region.
It has been responsible for a number of major projects in the region and raises capital through the international bond markets. The ADB also relies on member contributions, retained earnings from lending, and the repayment of loans for funding of the organization.
How the Asian Development Bank Works
The Asian Development Bank provides assistance to its developing member countries, the private sector and public-private partnerships through grants, loans, technical assistance, and equity investments to promote development. The ADB regularly facilitates policy dialogues and provides advisory services. They also use co-financing operations that tap a number of official, commercial, and export credit sources while providing assistance.
Shareholders of the Asian Development Bank
The two largest shareholders of the Asian Development Bank are the United States and Japan. Although the majority of the Bank's members are from the Asia-Pacific region, the industrialized nations are also well-represented. Regional development banks usually work in harmony with both the International Monetary Fund (IMF) and the World Bank in their activities.