Asian Development Bank (ADB)
ADB is an international development finance institution whose mission is to help its developing member countries reduce poverty and improve the quality of life of their people.
Headquartered in Manila, and established in 1966, ADB is owned and financed by its 67 members, of which 48 are from the region and 19 are from other parts of the globe.
ADB's main partners are governments, the private sector, nongovernment organizations, development agencies, community-based organizations, and foundations.
Under Strategy 2020, a long-term strategic framework adopted in 2008, ADB will follow three complementary strategic agendas: inclusive growth, environmentally sustainable growth, and regional integration.
In pursuing its vision, ADB's main instruments comprise loans, technical assistance, grants, advice, and knowledge.
Although most lending is in the public sector - and to governments - ADB also provides direct assistance to private enterprises of developing countries through equity investments, guarantees, and loans. In addition, its triple-A credit rating helps mobilize funds for development.
Policies and Strategies:
In 2008, ADB's Board of Directors approved Strategy 2020: The Long-Term Strategic Framework of the Asian Development Bank 2008-2020. It is the paramount ADB-wide strategic framework to guide all its operations to 2020.
In 2009, ADB's Board of Governors has agreed to triple ADB's capital base from $55 billion to $165 billion, giving it much-needed resources to respond to the global economic crisis and to the longer-term development needs of the Asia and Pacific region. Voting by ADB's 67 member countries on GCI V closed on 29 April 2009, with an overwhelming majority of members endorsing it. The 200% increase is ADB's largest, and the first since ADB increased its capital by 100% in 1994.
Strategy 2020 reaffirms both ADB's vision of an Asia and Pacific free of poverty and its mission to help developing member countries improve the living conditions and quality of life of their people.
Strategy 2020 identifies drivers of change that will be stressed in all its operations—developing the private sector, encouraging good governance, supporting gender equity, helping developing countries gain knowledge, and expanding partnerships with other development institutions the private sector, and with community-based organizations.
By 2012, 80% of ADB lending will be in five core operational areas, identified as comparative strengths of ADB:
Infrastructure, including transport and communications, energy, water water supply and sanitation and urban developmentEnvironmentRegional cooperation and integrationFinance sector developmentEducation
ADB will continue to operate in health, agriculture, and disaster and emergency assistance, but on a more selective basis.
ADB has developed a corporate results framework to assess its progress in implementing Strategy 2020. Annually, it will monitor implementation through the ADB Development Effectiveness Review.
In 2011, ADB Assistance to Developing Asia reached over $21.7 billion.See more