Asian Development Bank(ADB)

1 min read

News:India and Asian Development Bank(ADB) has signed $200 million loan agreement for upgrading rural roads in 34 districts of Maharashtra to improve road safety.

Facts:

About Asian Development Bank(ADB):

  • The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966.
  • ADB is headquartered in Manila, Philippines.It aims to promote social and economic development in Asia.
  • It assists its members and partners by providing loans, technical assistance, grants and equity investments to promote social and economic development.
  • ADB has 67 members, of which 48 are from within Asia and the Pacific and 19 outside. 
  • Japan and US holds the largest proportion of shares in ADB followed by China, India and Australia. ADB is also an official United Nations Observer.