ADB Full Form, Key Areas and History

ADB: Asian Development Bank

The full form of ADB is the Asian Development Bank. This bank is a regional development bank established on 19 Dec 1966. Headquarter of ADB is in the Ortigas centre located in the city of Mandaluyong, Metro Manila, Philippines.

The ADB system was developed on the model of World Bank and it has a similar voting system where votes are distributed in proportion with members capital subscription.

Key areas of Focus

ADB works on some key areas like Infrastructure, Environment, Education, Regional Integration, Finance Sector Development.

History

The idea of ADB was suggested by the Japan Finance Minister of that time in 1956 to the United States secretory of states that separate financial institutions should be there to handle the development projects of the Southeast Asian region.

In 1957 Japan Prime Minister announced the sponsor the establishment of regional development funds and similar funds from Japan and other industrial countries.

Early loans were issued to some countries which needed financial help like Thailand, Malaysia, South Korea, Philippines and Indonesia.

Now ADB provides direct financial assistance in the form of debt, equity and mezzanine finance to private sector companies.

This is the reason ADB full form is the Asian Development Bank.

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