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Published by Sanket Chheda

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Published by: Sanket Chheda on Oct 05, 2012
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The Asian Development Bank (ADB) is aregional development bankestablished in 1966to promote economic and social development in Asian and Pacific countries throughloans and technical assistance. It is a multilateral development financial institutionowned by 67 members (as of 2 February 2007),
 48 from the region and 19 fromother parts of the globe. ADB's vision is a region free of poverty. Its mission is to helpits developing member countries reduce poverty and improve the quality of life oftheir citizens. Although recent economic growth in many member countries have ledto a change in emphasis to some degree, throughout most of its history the bank hasoperated on a project basis, specifically in the areas of infrastructure investment,agricultural development and loans to basic industries in membercountries.Althoughby definition the bank is a lender to governments and government entities, it alsoprovides direct assistance toprivate enterprisesand has also participated as aliquidity enhancer and best practice enabler in the private sectors of regional membercountries. The ADB was founded in 1966 with the goal of eradicating poverty in theregion. With over 1.9 billion people living on less than $2 a day in Asia, the institutionhas a formidable challenge.The primary human capital asset of the bank is its staff of professionals,encompassing academic and/or practical experts in the areas of agriculture, civilengineering, economics, environment, health, public policy and finance. Professionalstaff are drawn from its member countries and given various incentives to relocate toManila.It is conceivable that once all of Asia-Pacific reaches a certain level of living standardthe bank will be wound down or reconfigured to operate as a commercial enterprise.
Our Vision - an Asia and Pacific Free of Poverty 
ADB is an international development finance institution whose mission is to help itsdeveloping member countries reduce poverty and improve the quality of life of theirpeople.Headquartered in Manila, and established in 1966, ADB is owned and financed by its67 membe
rs,of which 48 are from the region and 19 are from other parts of theglobe.ADB's main partners are governments, theprivate sector,nongovernmentorganizations,development agencies, community-based organizations, andfoundations.UnderStrategy 2020,a long-term strategic framework adopted in 2008, ADB willfollow three complementary strategic agendas:inclusive growth,environmentallysustainable growth,andregional 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 providesdirect assistance to private enterprises of developing countries through equityinvestments, guarantees, and loans. In addition, itstriple-A credit ratinghelpsmobilize funds for development.
It plays the following functions for countries in the Asia Pacific region:
Provides loans and equity investments to its developing member countries(DMCs)
Provides technical assistance for the planning and execution of developmentprojects and programs and for advisory services
Promotes and facilitates investment of public and private capital fordevelopment
Assists in coordinating development policies and plans of its DMCsi.
to promote investment in the region of public and private capital fordevelopment purposes;ii.
to utilize the resources at its disposal for financing development of thedeveloping member countries in the region, giving priority to those regional,sub-regional as well as national projects and programmes which will contributemost effectively to the harmonious economic growth of the region as a whole,and having special regard to the needs of the smaller or less developedmember countries in the region;iii.
to meet requests from members in the region to assist them in the coordinationof their development policies and plans with a view to achieving betterutilization of their resources, making their economies more complementary,and promoting the orderly expansion of their foreign trade, in particular, intra-regional trade;iv.
to provide technical assistance for the preparation, financing and execution ofdevelopment projects and programmes, including the formulation of specificproject proposals;v.
to co-operate, in such manner as the Bank may deem appropriate, within theterms of this Agreement, with the United Nations, its organs and subsidiarybodies including, in particular, the Economic Commission for Asia and the FarEast, and with public international organizations and other internationalinstitutions, as well as national entities whether public or private, which areconcerned with the investment of development funds in the region, and tointerest such institutions and entities in new opportunities for investment andassistance; andvi.
to undertake such other activities and provide such other services as mayadvance its purpose.

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