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In which year, the Asian Development Bank (ADB) was established ?

In which year, the Asian Development Bank (ADB) was established ? Correct Answer 1966

The Correct Answer is 1966.

Key Points

  •  The Asian Development Bank is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines.

Important Points

About ADB:

  • It is a regional development bank
  • Established on 19 December 1966.
  • Headquartered — Manila, Philippines.
  • Official United Nations Observer.
  • Membership: The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries.
  • Currently, it has 68 members.
  • India was a founding member of the Asian Development Bank (ADB) in 1966 and is now the bank’s fourth-largest shareholder and top borrower.

  • As of 31 December 2019, 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%).

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In news:

  • ADB announced that it had appointed Election Commissioner Ashok Lavasa as its vice president (V­P) for private sector operations and public­private partnerships.

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