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The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, [3] which is headquartered in 6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines. [4] The bank also maintains 31 field offices around the world [ 5 ] to promote social and economic development in Asia.
As of April 2010, ADB was the leading financial institution in agricultural financing in Ghana, responsible for 35% of the total bank industry financing of agriculture. [7] In September 2010, the bank was recognized as Bank Of The Year at the Africa Investor Agribusiness Awards , in Durban , South Africa , the first institution so recognized ...
As of 2007, the bank claimed to have issued US$500 million, or 40,000 loans since its founding. [3] Most of the source money for the bank came from the Inter American Development Bank (IADB) and the Caribbean Development Bank. Since a change in the banking sector, where commercial banks stopped loaning money to agriculture in the early 2000s ...
According to the ADB, the Philippines has heavily relied on the ADB for development assistance, borrowing a total of $19.3 billion in the last decade. [2] [failed verification] The Philippines has been commended by the ADB for being a fast-growing economy despite increasing inflation and a plummeting global economy. [3]
ADB Asian Development Bank: Asia: Manila: 1970: CAF Development Bank of Latin America: Latin America: Caracas: 29/5/91: EBRD European Bank for Reconstruction and Development: London: 1956: CEB Council of Europe Development Bank: Coordinated organisation: Paris: 14/11/73: BOAD Banque ouest-africaine de développement West African Development Bank
The bank has begun non-sovereign operations with loans approved in Brazil, South Africa, and Russia. In May 2024, BRICS Development Bank announces to allocate US$1.115 bi to Rio Grande do Sul for rebuilding the urban and rural infrastructure after the 2024 floods .
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