What Is The Meaning Of ADB In Banking?
The term ADB in banking is an acronym that stands for “Asian Development Bank”. Generally, ADB is a regional development bank established on 19 December 1966. ADB is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines.
The company also keeps 31 field offices around the world to encourage social and economic development in Asia. The bank welcomes the members of the United Nations Economic and Social Commission for Asia and the Pacific and non-regional developed countries.
From 31 members at its initial phase, ADB now has 68 members, of which 49 are from within Asia and the Pacific and 19 are from outside. The main motive of ADB is to fight with the poverty in Asia and the Pacific and the purpose is social and economic development.
The president of ADB is Mr. Takehiko Nakao. It has a staff of around 3,092 employees. It would also be interesting to know that, ADB is an official United Nations Observer.
The ADB (Asian Development Bank) was even also a definitive closure on the World Bank and has alike weighted voting structure where votes are dispensed in an appropriate proportion with member’s capital subscription.