Asian Development Bank
This article deals with the ‘Asian Development Bank .’ This is part of our series on ‘Economics’ which is an important pillar of the GS-3 syllabus. For more articles, you can click here.
|Motto||“Fighting poverty in Asia & Pacific”|
|Headquarter||Manila , Philippines|
|Type||Regional organisation, multilateral development & finance institution|
|Members||67 (48 from Asia and pacific + 19 from outside)|
|India’s membership||India was the founding member of ADB|
|President||Masatsugu Asakawa , Japan (2020- present)|
|Vice – President||Ashok Lavasa (2020 – present ) (He was Election Commissioner and would have become Chief Election Commissioner)|
Biggest Shareholders of Asian Development Bank
Principles of ADB
- To make loans & equity investments for its developing members’ economic & social development.
- Provide technical assistance for the preparation & execution of development projects & programs & provide advisory services.
Indian Position in ADB
- India’s subscription to Bank’s capital stock is 7.2% & a voting share of 6%.
- India started borrowing from ADB’s ordinary capital resources in 1986. The Banks lending has been mainly in Energy, Transport & Communications, Finance, Industry & Social Infrastructure sectors.
- India holds the position of executive director on the Board of Directors of the Banks => its constituency comprises India, Bangladesh, Bhutan, Lao & Tajikistan.
- India is represented by