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Title : THE ASIAN DEVELOPMENT BANK
Date : Dec 17, 2021
Topic à International Organizations
- It's a bank for regional development.
- On December 19, 1966, the company was founded.
- Manila, Philippines is where the company's headquarters are located.
- Observer at the United Nations.
- Who can be a member of it:
- Non-regional developed countries and members 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) are allowed to join the bank.
- The Asian Development Bank today has 68 members, 49 of them are from Asia.
- It is based on the World Bank and uses a weighted voting method in which votes are given proportionally to members' capital contributions.
- Japan and the United States (each with 15.6 percent of total shares) are the two largest owners in the Asian Development Bank as of December 31, 2019, followed by the People's Republic of China (6.4 percent), India (6.3 percent), and Australia (6.3 percent) (5.8 percent ).
- Roles and responsibilities:
- Dedicated to alleviating poverty in Asia and the Pacific by promoting inclusive economic growth, environmental sustainability, and regional integration.
- This is accomplished through investments in infrastructure, health care services, finance and public administration systems, as well as other sectors, such as assisting nations in preparing for the effects of climate change or better managing their natural resources.
- Source à The Hindu à 15/12/21 à Page Number 1 & 10
Tags : Philippines, China, Asia and the Pacific