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.

Why in News?

• The Government of India and the Asian Development Bank (ADB) signed a $200 million loan to strengthen flood and riverbank erosion risk management along the 650 kilometres (km) long main stem of the Brahmaputra river in the state of Assam.
• The project builds on the success and lessons from the ADB-financed Assam Integrated Flood and Riverbank Erosion Risk Management Investment Programme implemented during 2010–2020, and similar investments in Bangladesh and will continue to tackle recurrent flooding and continual riverbank erosion of the Brahmaputra river.

https://pib.gov.in/PressReleasePage.aspx?PRID=2004722