asian-development-bank

  • Established in 1966, its head office is located at Manilla, Philippines
    • It has 68 shareholding members, that includes 49 from the Asia and Pacific region. 
    • India is a founding member of the Asian Development Bank.
  • This bank is designed on the lines of the World Bank
  • Japan holds the largest share in ADB with 15.677%, followed by the U.S.A (15.567%), China (6.473%), and India (5.812%). 
  • Its purpose is to provide prosperity, inclusivity, resilience and sustainability to Asia and Pacific along with eradication of poverty.
  • Strategy 2030 sets the course for the Asian Development Bank (ADB) to respond effectively to the region’s changing needs.
    • Under Strategy 2030, ADB will sustain its efforts to eradicate extreme poverty and expand its vision to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.

Recent development between ADB & India:

  • ADB’s country partnership strategy, 2018–2022 for India aims to support the country’s efforts to further accelerate its economic transformation and ascend from lower to upper-middle-income status. 
  • It focuses on boosting economic competitiveness to create good jobs, building an inclusive infrastructure and services in low-income states, and containing adverse climate change impacts.
  • A $91 million loan to modernize the Vijayanagara Channel irrigation systems and prepare river basin management plans in the Krishna river basin that will help improve irrigation water use efficiency and contribute to improving sustainable water security in Karnataka.
  • ADB finances projects in four ways:
    • Public sector (sovereign) financing - Financial products for developing member country governments and public sector entities.
    • Private sector (non- sovereign) financing - Direct financial assistance to private sector projects 
    • ADB funds and resources - ADB funds activities in various sectors through loans and grants, financed from ordinary capital resources as well as special and trust funds. 
    • Cofinancing partnerships - ADB partners with multilaterals, bilateral and private institutions and with commercial finance institutions to finance development projects in the region.