ADB is an Asian Development Bank. The Philippines-based bank mainly focuses on Asia and Pacific region to reduce poverty and social development. It establishes in 1966 and ADM has 68 members, 48 belong to Asia and the Pacific region.
In 2020 ADB grant $1billion USD to India for developing the RRTS project which connects Delhi to Meerut in the Delhi NCR region. It’s India’s first high-speed rail transit system. The total cost of this project is $3.2 billion USD.
Do you know full form of BOB
Majority of Shareholding by country
Japan = 15.57%
USA = 15.57%
China = 6.42%
India = 6.31%
Australia = 5.77%
Some Key Points
Established on 19 December 1966, headquartered located in the city of Mandaluyong, Metro Manila, Philippines.
The first loan issued to Japan it’s about $16.7 million USD.
ADB is an official United Nations Observer.
From the time of establishment to now, all presidents belong to Japan.
USA and Japan have the biggest shareholder in ADB. After that China, India, and Australia.
ADB is a social development organization and mainly reducing poverty in Asia and the Pacific region.
They provide hard loans and soft loans. Hard lone for middle-income countries, soft loan poorer countries in Asia and Pacific region.