Asian Development Bank

The Asian Development Bank ( ADB, ADB also, English Asian Development Bank, ADB ) is a multilateral development bank based in Manila ( Philippines).

History

In March 1965, the Economic and Social Commission for Asia and the Pacific, initiated by the United Nations the establishment of a development bank for this space. It has already been on 4 December 1965 in Manila, initially 21 states, including the former Federal Republic of Germany until 31 January 1966 by nine other states, including Austria, signed the Agreement Establishing the Asian Development Bank. This occurred with the deposit of the 15th instrument of ratification or instrument of acceptance with the Secretary General of the United Nations on 22 August 1966 in force.

With Georgia being the latest newcomer, the ADB currently has (as of 31 December 2009) 67 member countries.

Tasks

The activities of the ADB is primarily geared towards poverty reduction in Asia and the Pacific region through economic development and cooperation. In its Strategic Framework ( 2001-2015 ), the Bank will focus its work on private sector development, regional cooperation and sustainable environmental policy.

To achieve its objectives, the Bank provides loans and makes equity investments. Although lending to the private sector are allowed to go most loans to the public sector.

About the ( non-autonomous ) Asian Development Fund (ADF ) - this also Germany has co-founded - EIB for low-interest loans to their poorer regional member countries (see also: Overseas Development).

Organization

Each Member State shall designate a member and deputy for the Board (Board of Governors ) of the Bank. This selects the Board of Directors (Board of Directors ), consisting of twelve members and their alternates. Of them, eight represent the Asia -Pacific region, while another four are from other regions of the world. Even the president (President) of the bank is selected by the Board for a term of five years, his re-election is possible. The President heads the Board and is subject to its precepts in the management of the bank. Traditionally, Japanese is always elected to the office of the President; first president was Takeshi Watanabe, from January 1999 holding office Tadao Chino, who was replaced by Haruhiko Kuroda in February 2005. Haruhiko Kuroda successor was in April 2013 Takehiko Nakao. Japan is one of the largest shareholders of the bank.

Representative offices are entertained around the globe; the European Office of the Bank is located in Frankfurt am Main.

The establishment of the European Office is based on the agreement of 11 December 1996, which the Bank and its employees certain diplomatic privileges and immunities have been granted. The Agreement entered into force on 1 March 1998.

Members

The largest shareholders of the ADB are Japan and the United States, each with 12.8% share.

Member States by Region: