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’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
• ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
• ADB is an official United Nations Observer.
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Why in News?

• The Government of India signed an agreement with Asian Development Bank (ADB) to avail a USD 100 million loan to improve urban services and tourism facilities in the northeastern state of Tripura.
• The project will support the state as a gateway to the northeast region by developing tourist destinations along highways and by improving urban governance and financial sustainability through improved resource mobilisation and credit worthiness.

https://pib.gov.in/PressReleasePage.aspx?PRID=1989664