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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. The bank also maintains 31 field offices around the world [ 4 ] to promote social and economic development in Asia.
The Philippines is one of the first countries that joined the Asian Development Bank (ADB) in 1966. [1] 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.
This included the Inter‐American Development Bank (IDB), the African Development Bank (AfDB), the Asian Development Bank (ADB), the Development Bank of Latin America and the Caribbean (CAF), and the Islamic Development Bank (IsDB). Both the CAF and IsDB are "primarily owned and controlled by borrower countries." [15]
The Central Asia Regional Economic Cooperation (CAREC) Program is a program established in 1997 by the Asian Development Bank (ADB) to encourage economic cooperation among countries in Central Asia and nearby parts of Transcaucasia and South Asia.
There are also several "sub-regional" multilateral development banks. Their membership typically includes only borrowing nations. The banks lend to their members, borrowing from the international capital markets. Because there is effectively shared responsibility for repayment, the banks can often borrow more cheaply than could any one member ...
As of 2019, it has over 100 members, a co-financing framework with the World Bank and partnership with ADB, ADF, ADB, EDB, EBRD, EIB, IADB, IAIC, IsDBG, and NDB. [24] In 2013, China proposed the Belt and Road Initiative, a transcontinental development project that includes 1/3 of world trade and GDP and over 60% of the world's population.
This is a list of countries by government debt. Gross government debt is government financial liabilities that are debt instruments. [ 1 ] : 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future.
The ADBI is on the eighth floor of the Kasumigaseki Building in Tokyo.. The Asian Development Bank Institute (ADBI) is an Asian think tank focused on identifying effective development strategies for Asia and the Pacific, and on providing support to ADB member countries in managing development challenges.