ASIAN DEVELOPMENT BANK

  • November 29, 2020
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Subject: International Organization

Context: The Asian Development Bank has approved a $300 million policy-based loan to Pakistan to help promote macroeconomic stability in the cash-strapped country.

Concept:

  • ADB is a regional development bank established on 19th December 1966.
  • ADB now has 68 members, 49 from within Asia.
  • ADB’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
  • It aims to promote social and economic development in Asia.
  • ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
  • ADB is headquartered in Manila, Philippines.
Asian development bank International Organisation