Asian Development Bank (ADB) is a regional development organization committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. It was established in 1966 and has currently been owned by 68 members, with 49 of them hailing from the region itself. The bank predominantly supports various projects in its developing member countries, aiming to create a beneficial economic and development impact.
ADB operates not only through public sector operations but also through private ones. In addition to these, it also offers advisory services and knowledge support to its member nations. The bank has a prominent devotion towards eradicating extreme poverty while focusing on building a prosperous and sustainable Asia-Pacific region.
In terms of organizational structure, the ADB is composed of the Board of Governors, Board of Directors, and the President. The institution also possesses various departments and country offices which contribute towards the efficacy of its functioning. The ADB exhibits a great sense of accountability, with mechanisms in place for information access, anticorruption, integrity, development effectiveness, safeguards, independent evaluation, and an administrative tribunal.
ADB also hosts annual meetings and has put forth Strategy 2030, an operational scheme that lays out the bank's priorities for the forthcoming years. Its transparency and well-organized structure, combined with the commitment to drive prosperity and sustainability, makes the ADB a significant contributor towards the development in the Asia and the Pacific region.
