The Asian Development Bank (ADB) marks a new era of cooperation and collaboration between many countries in the Asia-Pacific, including India. India is a strategic member of the ADB.
In 2021, the Asian Development Bank provided a record 17 loans worth US$4.6 billion to India, of which US$1.8 billion was for the COVID-19 response. In addition, the ADB regularly provides funds to India for supporting the Indian government's transport, finance, agriculture, urban development, and skills-building initiatives.
What is the Asian Development Bank?
The Asian Development Bank is a development-focused regional bank that aims to facilitate prosperous, resilient, inclusive, and sustainable development in the Asia-Pacific. The bank's primary goal is to eradicate poverty or extreme poverty in these countries.
The Asia-Pacific region is home to a significant chunk of people living under US$1.90 a day (263 million) and US$3.20 a day (1.1 billion).
ADB provides loans, grants, equity investments, and technical assistance to its member countries to foster socio-economic development. The bank also facilitates policy dialogues, offers advisory services, and streamlines co-financing through commercial, official, and export credit sources, including bond markets.
The Asian Development Bank was founded in Manilla, Phillippines, in 1966. The Asian Development Bank headquarters are located in Ortigas Center, Mandaluyong, Metro Manila, Philippines.
ADB accepts members who are a part of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE). It also accepts members from non-regional developed countries.
When the ADB was established, it had 31 members. Presently, the ADB has 68 members, including 49 members from the Asia-Pacific and 19 from non-regional developed countries.
The Asian Development Bank is headed by Mr Masatsugu Asakawa, the ADB president. He is also the Chairperson of ADB's Board of Directors. Mr Asakawa assumed office on 17th January 2020. He is the 10th President of the Asian Development Bank.
List of Regional Members of the Asian Development Bank
Here is the list of 31 regional members of the Asian Development Bank, along with their year of membership:
Year of Membership
Federated States of Micronesia
Hong Kong, China
Lao People's Democratic Republic
Papua New Guinea
People's Republic of China
Republic of Korea
List of Non-Regional Members of the Asian Development Bank
Here is the list of 19 non-regional members of the ADB, along with the year of membership:
Year of Membership
The Asian Development Bank has involved itself in many socio-economic development programs since its inception in 1966 and continues to work for many noble causes. The institution has so far given loans worth US$52.73 billion to India for 785 projects and is firmly committed to upgrading the living standards in India.
FAQs on Asian Development Bank
Q.1) What is the Asian Development Bank?
The Asian Development Bank is a development-focused regional bank that aims to facilitate prosperous, resilient, inclusive, and sustainable development in the Asia-Pacific.
Q.2) Where is the headquarters of the Asian Development Bank?
The Asian Development Bank headquarters are located in Ortigas Center, Mandaluyong, Metro Manila, Philippines.
Q.3) Who is the current Asian Development Bank President?
The current Asian Development Bank President is Mr Masatsugu Asakawa.
Q.4) Who are the members of the Asian Development Bank?
The Asian Development Bank has 68 members, including 49 members from the Asia-Pacific and 19 from non-regional developed countries.