ADB full form | full form of ADB

ADB full form

Asian Development Bank

ADB full form is Asian Development Bank. The Asian Development Bank is an international organization. It provides financial aid for development to Asian and Pacific countries. It was established in 1966 in Manila, Philippines. It is the largest multilateral in the world. The bank provides grants, loans, and technical assistance as financial aid. It made a total of $63.1 Bln in financial aid in 2017.

What is ADB?

Asian Development Bank is an international financial institution that helps Asian and Pacific states by lending money to them. The organization was established in 1966, originally as a regional development bank (ARDB), but took up its current name in 2015. ADB is one of many Asian economic organizations. Within the Asia-Pacific region, it stands out as a U.S.-backed liberal voice in an area that has been dominated by Japan’s interventions and rhetoric for decades;

ADB makes its money recycling Japanese aid to help local governments finance major infrastructure projects (as opposed to other multilateral institutions which work mainly on trade pacts). It is considered pro-development bumping up against “pro-autonomy” groups such as the Association of Southeast Asian Nations which are based more strongly on political leaders’ needs than on development needs.

ADB history

The Asian Development Bank (ADB) was established in Manila on 18 May 1966 as a regional development bank. Originally known as the ASEAN Regional Development Centre it became ADB following its admission to membership of the United Nations in 1973 and resumed its original name when the World Bank withdrew support for ADB’s activities during 1980-81 due to Cambodia being “the only nation exempt from loan repayments” at that time.

At present, there are 183 members – 167 countries and 10 international organizations or supranational bodies. The headquarters is located near Makati City, Metropolitan Manila: 65 Aguirre re Avenue, Legaspi Village Annex Building B.

The ADB is currently operating under an expanded mandate that was approved by its Board of Governors in 2015. It will continue to support developing member countries with a regional initiative and provide assistance on programs such as technical cooperation, public expenditure management, and crisis prevention /restabilization (as well as strengthen the institution’s institutional capability).

How ADB makes a difference?

– Provides sustainability finance and other assistance on the Program, Operations & Management Reform (POMR) approach which focuses resources in support of strategic priorities;

– Generates improved project value by providing financing that supports enhanced efficiency;

– Increases job creation through its operations based on principles of Prodemic Effectiveness and Contingent Financing.

– Promotes Innovation (to meet Millennium Development Goals) through focusing assistance on key program ideas/approaches and supporting best practice models;

– Improves institutional readiness, effectiveness, and efficiency – in line with the ADB’s Strategic Plan.

The Asian Development Bank has supported a total of 111 projects in Bangladesh under its Project Preparation Assistance funds since 2004. In addition to this, 36 projects have been implemented via Alternative Financing Mechanism which includes Foreign Direct Investment Ukraine, Philippines Road Transport Infrastructure Fund II Germany Overseas Debt Administration Fund Ghana PublicProcurement Services Nepal India Kyrgyzstan Water Projects.

ADB benefits for emerging economies.

– Support the implementation of economic policies aimed at developing human capital and building successful businesses;

– Expand access to microfinance services or loan products in line with ADB’s Equality Action Plan & Poverty Reduction Strategy.

– Strengthen financial systems that support sound macroeconomic management, address scourges like corruption, and enhance competition;

– Increase transparency in private sector operations for more efficient allocation of resources through antitrust investigations/ court cases regarding monopoly.

Besides this, there are several other ways by which Bangladesh can benefit from assistance provided by ADB:

ADB operations give emphasis on the following areas:

– Water: Improving access to safe water, sanitation, and hygiene

– Infrastructure development of railway network in different economic sectors.

– Natural Resource Management & Conservation – Assisting that the natural resources are sustainable for communities by supporting Project Preparation Assistance related to environmental impact assessment and community-based conservation programs.

Types Of Such Programs Are The Support For Landscape Restoration To Enhance Forests And Reduce Deforestation; Environmental Education Programme And Strengthening Client Capacity In Planning Environment Based Programmes

– Forest Protected Areas (FPA) Services Using Dedicated Stations; Farm Energy Efficiency Assessment Program At Farmer Level And Extension Of Video Electronic Label Readers (VELR) By Farmers.

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