The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members - of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with member's capital subscriptions. At present, both the United States and Japan hold 552,210 shares, the largest proportion of shares at 12.756% each. China holds 228,000 shares (6.429%), India holds 224,010 shares (6.317%), the 2nd and 3rd largest proportion of shares respectively.
Read more about Asian Development Bank: Organization, Lending, Notable Projects and Technical Assistance, Effectiveness, Criticism, United Nations Development Business, Strategy 2020, Members
Famous quotes containing the words asian, development and/or bank:
“If he roars at you as you’re dyin’
You’ll know it is the Asian Lion.”
—Carolyn Wells (1862–1942)
“Understanding child development takes the emphasis away from the child’s character—looking at the child as good or bad. The emphasis is put on behavior as communication. Discipline is thus seen as problem-solving. The child is helped to learn a more acceptable manner of communication.”
—Ellen Galinsky (20th century)
“O Gold! I still prefer thee unto paper,
Which makes bank credit like a bark of vapour.”
—George Gordon Noel Byron (1788–1824)