ADB is an international development finance institution whose mission is to help its developing member countries reduce poverty and improve the quality of life of their people. Guiding ADB’s work is its long-term strategic framework, Strategy 2020.
Despite the region's many successes, Asia and Pacific remains home to two thirds of the world's poor. Some 600 million people in the region live on $1 a day or less.
ADB is committed to reducing poverty through inclusive economic growth, environmentally sustainable growth, and regional integration in partnership with governments, the private sector, nongovernment organizations, development agencies, community-based organizations, and foundations.
Headquartered in Manila, and established in 1966, ADB is owned and financed by its 67 members, of which 48 are from the region and 19 are from other parts of the globe.
Its main instruments for helping its developing member countries are low interest loans, grants, advice, and knowledge.
Website: www.adb.org
Contact:
Headquarters: 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
Tel: + 632 632 4444 | Fax:+ 632 636 2444 | Email: information(at)adb.org
Organization profile
Background:
Established in 1966 and headquartered in Manila, ADB is owned and financed by its 67 member countries, of which 48 are from the region and 19 are from other parts of the globe. It contributes low interest loans, guarantees, grants, private sector investments, and knowledge and advice to help build infrastructure and improve essential services such as health and education to boost quality of life, particularly for the nearly 1.9 billion people in the region still living on $2 or less a day. ADB's focus is on encouraging economic growth, social development, and good governance, while promoting regional cooperation and integration in partnership with governments, the private sector, and nongovernment and international organizations.
Although most lending is in the public sector - and to governments - ADB also provides direct assistance to private enterprises of developing countries through equity investments, and loans. In addition, its triple-A credit rating helps mobilize funds for development.
Mission:
With the growing realization that too much development was bypassing too many people in the region, ADB adopted elimination of poverty as its principal mission in 1999.
Projects and Programs:
Projects and programs have focused on:
- Improving the lives of the poor
- Building infrastructure – roads, airports, power plants, and water and sanitation facilities
- Helping build the foundation for commerce and economic growth and making essential services accessible to the poor.
Besides, ADB also contributes to sustainable tourism within the region and other part of the world by providing loan, grant and technical assistance to various projects as follows:
• GMS Sustainable Tourism Development Project (Regional)
• SASEC Tourism Development Project (Regional)
• SASEC HRD and Capacity Building in Tourism Sector (Regional)
• GMS: Mekong Tourism Development Project (Vietnam, Cambodia, Lao PDR)
• South Asia Subregional Economic Cooperation Tourism Development Plan (Regional)
• Building Capacity in Tourism Planning (Cambodia)
• Mekong/Lancang River Tourism Infrastructure Development (Regional)