What is the full form of ADB ?
ADB Full Form: Asian Development Bank
The full form of ADB is Asian Development Bank. It is a regional development bank established to reduce poverty and foster economic growth and cooperation in Asia and the Pacific region. As of July 2017, Takehiko Nakao is the President of ADB.
Areas of Focus
ADB operations emphasize the following areas:
Infrastructure
Environment
Education
Regional integration
Finance Sector development
Brief History
The Asian Development Bank (ADB) idea was conceived in the early 1960s, and it was formally established in 1966. A resolution was passed at the first Ministerial Conference on Asian Economic Cooperation in 1963 to launched the ADB. The ADB’s headquarters are located in Manila, Philippines.
The ADB’s primary purpose is to promote economic development in Asia. It does this by providing loans, technical assistance, and other forms of support to its member countries. The ADB also operates several programs and initiatives to improve regional cooperation and integration.
The ADB is governed by a Board of directors consisting of representatives from its member countries. The Board of Directors elects the President of the ADB, and the President appoints the Vice President. The ADB has been criticized for its lending practices and for its failure to adequately address the needs of poor people in Asia. However, it has also been praised for promoting economic development and regional cooperation.
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