What Is The Full Form Of ADB ?
If We Talk About Banking Related Terms Then, ADB Full Form is Asian Development Bank
Some Details About ADB
The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
Areas Where ADB Focuses
ADB Operations Majorly Emphasises on:
- Regional integration
- Finance Sector development
Brief History of ADB
The idea of the Asian Development Bank conceived in the early 1960s. Later, a resolution was passed at the first Ministerial Conference on Asian Economic Cooperation in 1963 to establish the ADB.
On 19 December 1966, ADB was established with 31 members and Takeshi Watanabe as its first President. In the beginning, ADB was focused on food production and rural development.
In 1974, Asian Development Fund was established to provide low-interest loans to the poorest member countries.
In 1982, it opened its first field office in Bangladesh to come closer to the people in need.
In mid-1997, during severe financial crisis in the region, it started projects to strengthen the financial sector, i.e. it approved its largest single loan worth $ 4 billion to the Republic of Korea.
In 2004, it spent more than $800 million for the recovery of areas hit by Tsunami in Sri Lanka, India, Indonesia and Maldives.
In 2008, it launched a new long-term strategy framework ‘Strategy 2020’ to respond to the changing needs of the region.
Headquarters of ADB
6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
+63 2 8632 4444
+63 2 8636 2444
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