|
|
|
|
| Home » International Financial Institutions » Asian Development Bank |
|
Asian Development Bank |
|
|
Asian Development Bank was established in 1966. This multilateral international financial institution promotes economic and social development of Asian and Pacific countries. The Asian Development Bank is comprised of 67 members, 48 from the region and 19 from other parts of the world. The Asian Development Bank provides technical and financial aid to its developing member nations thus assisting them in their fight to reduce poverty and improve the quality of life of 2/3rd of the worlds poor. In doing so the Asian Development Bank (ADB) lends close to US$ 7 billion per year.
|
The major projects and technical assistance provided by ADB in recent years are:
- Greater Mekong Sub-regional Program
- Afghan Diaspora Project
- Solar energy development funds in India
- Trans-Afghanistan Gas Pipeline Feasibility Assessment
- Earthquake and Tsunami Emergency Support Project in Indonesia
- Strategic Private Sector Partnerships for Urban Poverty Reduction in the Philippines
The projects funded by ADB are subjected to self evaluation and individual evaluation to assess the effective development. The Governments should also prepare their own project completion reports. The reports are evaluated by ADB’s Operation Evaluation Department. The reports are revealed to the public via its own websites. The main purpose of such disclosure of report is to facilitate learning of failures and successes in any projects.
The Board of Governors is composed of one representative from each member nations. The 12 Board of Directors and their deputy are elected by the Board of Governors. Out of the 12 Directors 8 are from the region and rest 4 comes from the non-regional nations. The President of the Asian Development Bank is elected by the Governors. He is the chairman of the Board of Directors. The present president is Haruhiko Kuroda. Japan being the largest shareholder it is seen that most of the presidents till date is from Japan. The President has a term of 5 years after which he can be reelected.
For more information on International Financial Institutions, visit www.businessplanningxl.com.
|
|
|
| |
|
|
|
|
|
