ASIAN DEVELOPMENT BANK (ADB)

The Asian Development Bank (ADB) is an international development finance institution, established in 1966 and constituted of 67 member states, 48 of which are Asian countries, whose mission is to promote economic growth and cooperation in Asia. The Bank has its headquarters in Manila, the Philippines, and operates via the activities and support of its 27 field offices. ADB pursues three complementary strategies – social and economic development of member countries, environmentally sustainable growth and regional integration – with the overall objective of reducing poverty in Asia and the Pacific. The primary tools used to achieve these objectives include loans, technical assistance, direct investment financing and the promotion of a political dialogue between member states. The Asian Development Fund was created in 1973 in order to provide loans with lower than market interest rates as well as credit to those countries with a limited capacity to repay their debts. After the Bank’s reform in 2008, it is pursuing the main goals of economic growth, environmental sustainable development and regional integration.
Bibliography
Krasner, S. D. (1981), Power Structures and Regional Development Banks, International Organization, Vol. 35, N. 2, pp. 303-328, Cambridge University Press.
Kappagoda, N. (1995), The Multilateral Development Banks: The Asian Development Bank, The Multilateral Development Banks, Vol. 2, L. Rienner ed.
Editor: Federica ALFANI
© 2009 ASSONEBB