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.
• ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
• 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 (ADB) announced that it will provide 400 million US dollars in loans to Bangladesh to promote trade, investment and tourism.

https://newsonair.gov.in/News?title=Asian-Development-Bank-to-provide-400-million-US-dollars-in-loans-to-Bangladesh&id=463181