Full Form of ADB
Asian Development Bank
ADB Full Form is Asian Development Bank. ADB is a bank formed for promoting economic and social development in all nations of Asia. The foundations of the ADB were laid in the year 1966. Its head office is present in the Philippines. It has more than thirty field offices throughout the globe. The members of the UN Social and Economic Commission for the Pacific regions and Asia are admitted in the bank. During its initial years, it had thirty-one members. The same has increased to sixty-seven, out of which forty-eight comes from the Pacific regions and Asia. The remaining nineteen are from the other regions. The model of the ADB is similar to the World Bank. The voting system of the ADB is same as that of the World Bank. Its vote distribution is proportional to the capital subscription of its members.
An annual report is released by the bank that provides a thorough summary of its budget and operations, along with additional materials that can be reviewed by the public. The biggest portion of the bank’s share is held by Japan, which is fifteen percent, as of the year 2014. Around fourteen percent is held by the US, six percent by China, five percent by India and four percent by Australia. The primary focus of the ADB lies in decreasing poverty in the Pacific regions and Asia. It is determined to achieve this aim through regional integration, and sustainable economic growth.
The bank carries this out with the help of investments, through grants and loans; and sharing the information in public administration and financial systems, health care services and infrastructure. It also aids countries in preparing for the effects of climate change, along with the optimum management of their natural resources. There are 5 areas where eighty percent of the bank’s activities are concentrated. These areas include education, development of the financial sector, regional cooperation, disaster risk management, and infrastructure, which includes sanitation, energy, transport, urban development, water supply, and communications.