Background
- Established: 1966.
- Headquarters: Mandaluyong, Manila, Philippines.
- Objective: To foster economic growth and cooperation in Asia-Pacific, reduce poverty, and promote sustainable development.
- Members: 68 (49 from Asia-Pacific and 19 from outside the region, including USA & European nations).
- Motto: “Fighting poverty in Asia and the Pacific.”
Structure
- Board of Governors: Highest decision-making body (each member country represented).
- Board of Directors: 12 members – responsible for operations.
- President: Current (2025) – Masatsugu Asakawa (Japan).
- Voting System: Based on capital subscriptions (like IMF/World Bank).
Capital & Funding
- Capital stock subscribed by member countries.
- Major shareholders:
- Japan & USA (~15–16% each).
- China, India, Australia also significant.
- Provides loans, grants, technical assistance, equity investments to its members.
Key Functions
- Financial assistance: Concessional and non-concessional loans.
- Technical assistance: Capacity building, knowledge sharing.
- Private sector operations: Mobilises investment for infrastructure.
- Regional cooperation: Connectivity, trade facilitation, disaster resilience.
India and ADB
- Member since 1966 (founding member).
- India is the 4th largest shareholder and among the largest recipients of ADB assistance.
- ADB has funded:
- Metro rail projects (Delhi, Bengaluru, Chennai, Mumbai, Pune).
- Infrastructure (roads, renewable energy, water supply).
- Social sector (skills development, urban services).
- ADB also supports climate change resilience and green energy initiatives in India.
Recent Developments (Exam-Relevant)
- ADB actively funding energy transition and green hydrogen projects.
- Committed billions towards post-COVID recovery in Asia.
- Works with India on infrastructure corridors, smart cities, renewable energy financing.