The Asian Development Bank was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world with its headquarters at Manila, Philippines.
ADB now has 67 members of which 48 from within Asia and Pacific while remaining 19 from outside.
The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific and non-regional developed countries.
ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
ADB operations are designed to support the three complementary agendas of inclusive economic growth, environmentally sustainable growth, and regional integration.
The ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members' capital subscriptions.
In India projects taken care by ADB are solar transmission sector project, transmission improvement projects in Odisha and Tamil Nadu, Madhya Pradesh Skill Development Project etc.
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