Asian Development Bank

From Free net encyclopedia

The Asian Development Bank (ADB) is a multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific. It was founded in 1966 with 31 members states and has now grown to include 64.

1 Organization
2 Notable projects of the ADB
3 Member states
4 Notes
5 External links

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Organization

The highest policy-making body of the bank is the Board of Governors composed of one representative from each member state. The Board of Governors, in turn, elect among themselves the 12 members of the Board of Directors and their deputy. Eight of the 12 members come from regional (Asia-Pacific) members while the rest come from non-regional members.

The Board of Governors also elect the bank's President who is the legal representative of the bank and manages the Board of Directors. The president has a term of office lasting five years, and may be reelected. Traditionally, and because Japan is one of the largest shareholders of the bank, the President has always been Japanese. The current President is Haruhiko Kuroda.

The headquarters of the bank is at 6 ADB Avenue, Mandaluyong City, Metro Manila, Philippines, and it has representative offices around the world. The bank employs approximately 2,000 people, more than half of which are Filipino.

The bank has been under corruption investigation by the U.S. Senate Committee on Foreign Affairs.

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Notable projects of the ADB

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Member states

Names are indicated as it is recognized by the ADB. The number after the state's name indicate the year of membership. Founding member states are highlighted in bold letters and marked with an asterisk.

Asian and Pacific region :
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Other regions :
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