India Pushes ADB for Reforms

India has called for reforms in the Asian Development Bank (ADB) and for stronger financial support from the Manila-based multilateral lender. The ADB was established in 1966 and has 69 members, including 50 from Asia and the Pacific and 19 from outside the region.

Asian Development Bank

The Asian Development Bank is a regional development bank that finances projects in Asia and the Pacific. Its headquarters are in Manila, Philippines, and its core functions include sovereign lending, private sector financing, technical assistance, and policy support.

ADB Lending and Capital Structure

The ADB provides loans, grants, equity investments, and guarantees for infrastructure, social sector, climate, and regional cooperation projects. Its ordinary capital resources and concessional Asian Development Fund are the main financial windows used for development assistance.

India and Multilateral Development Banks

India is a founding member of the ADB and has been one of its largest borrowers and shareholders. India has used ADB financing for transport, urban development, energy, and water supply projects across several states.

Important Facts for Exams

• The Asian Development Bank was founded in 1966.
• The ADB headquarters are located in Manila, Philippines.
• The ADB has 69 members in total.
• The Asian Development Fund provides concessional assistance for poorer member countries.

ADB Governance

The ADB is governed by a Board of Governors and a Board of Directors. Its president is elected by the member countries, and the institution follows a weighted voting system based on shareholding.