Manila (Philippines)
The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 which is headquartered in Metro Manila, Philippines, to facilitate economic development in Asia. At the end of 2013, Japan holds the largest proportion of shares at 15.67%. The United States holds 15.56%, China holds 6.47%, India holds 6.36%, and Australia holds 5.81%.
ADB has 67 members (as of 2 February 2007): 48 members from the Asian and Pacific Region, 19 members from Other Regions. Notable non-members are Bahrain, Iran, Iraq, Jordan, Kuwait, Lebanon, North Korea, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and Yemen. Names are as recognized by ADB.
Notable projects and technical assistance
Afghan Diaspora Project
Funding Utah State University led projects to bring labor skills in Thailand
Earthquake and Tsunami Emergency Support Project in Indonesia
Greater Mekong Subregional Program
ROC Ping Hu Offshore Oil and Gas Development
Strategic Private Sector Partnerships for Urban Poverty Reduction in the Philippines
Trans-Afghanistan Gas Pipeline Feasibility Assessment
Loan of $1.2 billion to bail it out of an impending economic crisis in Pakistan and ongoing funding for the countries growing energy needs, specifically Hydro-power projects
Micro finance support for private enterprises, in conjunction with governments, including Pakistan and India.
The Yichang-Wanzhou Railway project in the mountainous area of western Hubei Province and north-eastern Chongqing Municipality, China. (A US $500 million loan, approved in 2003.)
Ulaanbaatar Airport and National Air Navigation Development Projects: Chinggis Khaan International Airport
Colombo Harbour Expansion Project
Asia Climate Partners, a joint venture between ADB, ORIX Corporation, and Robeco Institutional Asset Management, that funds green-energy projects.
Criticism
ADB has a largest shareholding of Japan and served Japan's economic interests because its loans went largely to Indonesia, Thailand, Malaysia, South Korea and the Philippines, the countries with which Japan had crucial trading ties; these nations accounted for 78.48% of the total ADB loans between 1967 and 1972. Moreover, Japan received tangible benefits, 41.67% of the total procurement between 1967 and 1976. Japan tied its special funds contributions to its preferred sectors and regions and procurement of its goods and services, as reflected in its $100 million donation for the Agricultural Special Fund in April 1968.
