ADB is multilateral lending agency based in Manila, Philippines. It is dedicated to reduce poverty in Asia and the Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration.
Important Facts
- ADB has 67 members – 48 from the Asia-Pacific region including India and is collectively owned by these 67 members. The non Asia pacific region members are only developed countries.
- Most of the ADB’s lending (~80%) is concentrated public sector lending in five operational areas viz. Education; Environment, Climate Change & Disaster Management; Finance Sector Development; Regional Cooperation & Integration and Private sector lending.
- It provides finance to both sovereign countries as well as private parties. It provides hard loans to middle income countries while soft loans to poorer countries.
- Creative Productivity Index is released by the Economic Intelligence Unit of Asian Development Bank and is used to study Asian knowledge economies on different parameters.