About ADB

• The Asian Development Bank (ADB) was founded in 1966 with the primary mission of fostering growth and cooperation among countries in the Asia-Pacific Region.
• It is headquartered in Manila, Philippines. 
• At present, ADB comprises 68 members (including India)- of which 49 are from within Asia and the Pacific and 19 outside.
• The ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions.
• The two largest shareholders of the ADB are the US and Japan. 
• ADB is an official United Nations Observer.

Why in News?

• The Asian Development Bank and the Government of India signed a $50 million policy-based loan to improve financial management procedures and operational efficiencies aimed at achieving more fiscal savings, promote informed decision making, and improve service delivery in the state of West Bengal.

Reference:

1. http://newsonair.com/News?title=ADB%2c-India-sign-50-million-loan-to-boost-West-Bengal%e2%80%99s-digital-platforms-for-public-finance-reforms&id=405423