Introduction
The Asian Development Bank (ADB) is an international development finance institution whose mission is to help its developing member countries reduce poverty and improve the quality of life of their people.
Headquartered in Manila and established in 1966, ADB is owned and financed by its 67 members, of which 48 are from the region and 19 are from other parts of the globe. ADB’s main partners are governments, the private sector, nongovernmental organizations, development agencies, community-based organizations, and foundations.
Strategy and Mission
Under Strategy 2020, a long-term strategic framework adopted in 2008, ADB will follow three complementary strategic agendas: inclusive growth, environmentally sustainable growth, and regional integration.
In pursuing its vision, ADB’s main instruments comprise loans, technical assistance, grants, advice, and knowledge. Although most lending is in the public sector and to governments, ADB also provides direct assistance to private enterprises in developing countries through equity investments, guarantees, and loans. In addition, its triple-A credit rating helps mobilize funds for development.
Main Functions
The main functions of ADB are:
- Technical assistance provided to members, so that they can plan and execute development strategies and projects.
- Assistance to Developing Member Countries (DMCs) to coordinate policies designed for development.
- Equity investments and loans to member nations.
- Encouragement to member nations to invest private and public capital for development.
Organizational Structure
The highest decision-making tier at ADB is its Board of Governors, to which each of ADB’s 67 members nominates one Governor and an Alternate Governor to represent them. The Board of Governors meets formally once a year at an Annual Meeting held in a member country.
The Governors’ day-to-day responsibilities are largely delegated to the 12-person Board of Directors, which performs its duties full-time at ADB’s headquarters in Manila. The ADB President, under the Board’s direction, conducts the business of ADB. The President is elected by the Board of Governors for a term of five years and may be reelected.
Membership
From 31 members at its establishment in 1966, ADB has grown to encompass 67 members, of which 48 are from within the Asia and Pacific region and 19 outside. Some member countries enter a new phase in their relationship with ADB as defined under the Classification and Graduation Policy. Georgia is the 67th and newest member, having joined ADB effective 2 February 2007.
Membership Details
| Members | Year of Membership | Number of Shares | Percent of Total Shares | Number of Votes | Percent of Total Votes | Percent of Regional/Non-regional |
|---|---|---|---|---|---|---|
| Afghanistan | 1966 | 1,195 | 0.034 | 14,427 | 0.325 | 0.5 |
| Armenia | 2005 | 10,557 | 0.298 | 23,789 | 0.537 | 0.825 |
| Australia | 1966 | 204,740 | 5.773 | 217,972 | 4.917 | 7.56 |
| Azerbaijan | 1999 | 15,736 | 0.444 | 28,968 | 0.653 | 1.005 |
| Bangladesh | 1973 | 36,128 | 1.019 | 49,360 | 1.114 | 1.712 |
| Bhutan | 1982 | 220 | 0.006 | 13,452 | 0.303 | 0.467 |
| Brunei Darussalam | 2006 | 12,462 | 0.351 | 25,694 | 0.58 | 0.891 |
| Cambodia | 1966 | 1,750 | 0.049 | 14,982 | 0.338 | 0.52 |
| China, People’s Republic of | 1986 | 228,000 | 6.429 | 241,232 | 5.442 | 8.367 |
| Cook Islands | 1976 | 94 | 0.003 | 13,326 | 0.301 | 0.462 |
| Fiji Islands | 1970 | 2,406 | 0.068 | 15,638 | 0.353 | 0.542 |
| Georgia | 2007 | 12,081 | 0.341 | 25,313 | 0.571 | 0.878 |
| Hong Kong, China | 1969 | 19,270 | 0.543 | 32,502 | 0.733 | 1.127 |
| India | 1966 | 224,010 | 6.317 | 237,242 | 5.352 | 8.229 |
| Indonesia | 1966 | 192,700 | 5.434 | 205,932 | 4.646 | 7.143 |
| Japan | 1966 | 552,210 | 15.571 | 565,442 | 12.756 | 19.612 |
| Kazakhstan | 1994 | 28,536 | 0.805 | 41,768 | 0.942 | 1.449 |
| Kiribati | 1974 | 142 | 0.004 | 13,374 | 0.302 | 0.464 |
| Korea, Republic of | 1966 | 178,246 | 5.026 | 191,478 | 4.32 | 6.641 |
| Kyrgyz Republic | 1994 | 10,582 | 0.298 | 23,814 | 0.537 | 0.826 |
| Lao PDR | 1966 | 492 | 0.014 | 13,724 | 0.31 | 0.476 |
| Malaysia | 1966 | 96,350 | 2.717 | 109,582 | 2.472 | 3.801 |
| Maldives | 1978 | 142 | 0.004 | 13,374 | 0.302 | 0.464 |
| Marshall Islands | 1990 | 94 | 0.003 | 13,326 | 0.301 | 0.462 |
| Micronesia, Federated States of | 1990 | 142 | 0.004 | 13,374 | 0.302 | 0.464 |
| Mongolia | 1991 | 532 | 0.015 | 13,764 | 0.31 | 0.477 |
| Myanmar | 1973 | 19,270 | 0.543 | 32,502 | 0.733 | 1.127 |
| Nauru | 1991 | 142 | 0.004 | 13,374 | 0.302 | 0.464 |
| Nepal | 1966 | 5,202 | 0.147 | 18,434 | 0.416 | 0.639 |
| New Zealand | 1966 | 54,340 | 1.532 | 67,572 | 1.524 | 2.344 |
| Pakistan | 1966 | 77,080 | 2.174 | 90,312 | 2.037 | 3.132 |
| Palau | 2003 | 114 | 0.003 | 13,346 | 0.301 | 0.463 |
| Papua New Guinea | 1971 | 3,320 | 0.094 | 16,552 | 0.373 | 0.574 |
| Philippines | 1966 | 84,304 | 2.377 | 97,536 | 2.2 | 3.383 |
| Samoa | 1966 | 116 | 0.003 | 13,348 | 0.301 | 0.463 |
| Singapore | 1966 | 12,040 | 0.34 | 25,272 | 0.57 | 0.877 |
| Solomon Islands | 1973 | 236 | 0.007 | 13,468 | 0.304 | 0.467 |
| Sri Lanka | 1966 | 20,520 | 0.579 | 33,752 | 0.761 | 1.171 |
| Taipei,China | 1966 | 38,540 | 1.087 | 51,772 | 1.168 | 1.796 |
| Tajikistan | 1998 | 10,134 | 0.286 | 23,366 | 0.527 | 0.81 |
| Thailand | 1966 | 48,174 | 1.358 | 61,406 | 1.385 | 2.13 |
| Timor-Leste | 2002 | 350 | 0.01 | 13,582 | 0.306 | 0.471 |
| Tonga | 1972 | 142 | 0.004 | 13,374 | 0.302 | 0.464 |
| Turkmenistan | 2000 | 8,958 | 0.253 | 22,190 | 0.501 | 0.77 |
| Tuvalu | 1993 | 50 | 0.001 | 13,282 | 0.3 | 0.461 |
| Uzbekistan | 1995 | 23,834 | 0.672 | 37,066 | 0.836 | 1.286 |
| Vanuatu | 1981 | 236 | 0.007 | 13,468 | 0.304 | 0.467 |
| Viet Nam | 1966 | 12,076 | 0.341 | 25,308 | 0.571 | 0.878 |
Total Regional: | | | 2,247,995 | 63.390 | 2,883,131 | 65.040 | 100.000 |
Non-regional Members:
| Members | Year of Membership | Number of Shares | Percent of Total Shares | Number of Votes | Percent of Total Votes | Percent of Regional/Non-regional |
|---|---|---|---|---|---|---|
| Austria | 1966 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Belgium | 1966 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Canada | 1966 | 185,086 | 5.219 | 198,318 | 4.474 | 12.797 |
| Denmark | 1966 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Finland | 1966 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| France | 1970 | 82,356 | 2.322 | 95,588 | 2.156 | 6.168 |
| Germany | 1966 | 153,068 | 4.316 | 166,300 | 3.752 | 10.731 |
| Ireland | 2006 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Italy | 1966 | 63,950 | 1.803 | 77,182 | 1.741 | 4.98 |
| Luxembourg | 2003 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| The Netherlands | 1966 | 36,294 | 1.023 | 49,526 | 1.117 | 3.196 |
| Norway | 1966 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Portugal | 2002 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Spain | 1986 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Sweden | 1966 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| Switzerland | 1967 | 20,650 | 0.582 | 33,882 | 0.764 | 2.186 |
| Turkey | 1991 | 12,040 | 0.34 | 25,272 | 0.57 | 1.631 |
| United Kingdom | 1966 | 72,262 | 2.038 | 85,494 | 1.929 | 5.517 |
| United States | 1966 | 552,210 | 15.571 | 565,442 | 12.756 | 36.487 |
Total Non-Regional: | | | 1,298,316 | 36.610 | 1,549,724 | 34.960 | 100.000 |
Grand Total: | | | 3,546,311 | 100.000 | 4,432,855 | 100.000 |
The Asian Development Bank continues to play a vital role in fostering economic development and cooperation in the Asia-Pacific region, leveraging its resources, knowledge, and expertise to address the challenges and opportunities facing its member countries.