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What is the Asian Development Bank (ADB)?

The Asian Development Bank (ADB) is a regional development bank that promotes economic and social progress in Asia and the Pacific. Established in 1966, ADB’s primary mission is to alleviate poverty and foster sustainable development by providing financial support, technical assistance, and policy advice to its member countries.

Key aspects of the Asian Development Bank include:

1. Membership: ADB has 68 member countries, including both Asian and non-Asian countries. The majority of its members are from the Asia-Pacific region.

2. Development Focus: ADB focuses on addressing development challenges in its member countries, such as poverty reduction, inclusive economic growth, infrastructure development, environmental sustainability, and regional integration.

3. Financing: ADB provides financial assistance to its member countries through loans, grants, and guarantees. It supports a wide range of projects and programs, including investments in infrastructure, energy, transportation, water supply, education, healthcare, and agriculture.

4. Technical Assistance: ADB offers technical assistance and knowledge sharing to its member countries to strengthen their capacities in areas such as policy formulation, project planning, governance, environmental management, and social development.

5. Partnerships: ADB collaborates with various stakeholders, including governments, other development organizations, private sector entities, civil society, and academia, to leverage resources, expertise, and innovation to achieve its development objectives.

6. Safeguard Policies: ADB has adopted safeguard policies to ensure that its projects are environmentally and socially sustainable, respect human rights, and involve meaningful stakeholder engagement.

ADB operates through its headquarters in Manila, Philippines, and has resident missions in several countries across the region. The bank’s operations are guided by its long-term strategic framework, the ADB Strategy 2030, which sets out its vision, goals, and operational priorities.

As a development bank, ADB works closely with its member countries to design and implement projects that align with their development priorities. It provides financial resources, technical expertise, and policy advice to support sustainable and inclusive growth, poverty reduction, and improved living standards in the Asia-Pacific region.

ADB’s activities contribute to regional cooperation, economic integration, and the achievement of the Sustainable Development Goals (SDGs) in Asia and the Pacific. It plays a vital role in mobilizing resources, promoting investments, and fostering partnerships to address the region’s development challenges.