Asian Development Bank

The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966 which is headquartered in Ortigas Center located in Mandaluyong, Metro Manila, Philippines, and maintains 31 field offices around the world, to promote social and economic development in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members, of which 48 are from within Asia and the Pacific and 19 outside. 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. ADB releases an annual report that summarizes its operations, budget and other materials for review by the public.

At the end of 2014, Japan holds the largest proportion of shares at 15.7%. The United States holds 15.6%, China holds 6.5%, India holds 6.4%, and Australia holds 5.8%.

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Latest News for: Asia development bank

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ADB's coal shutdown scheme to launch first project in Indonesia 'soon' - envoy

Reuters 29 Sep 2023

First Asia Development BankFollow ... SINGAPORE, Sept 29 (Reuters) - A new financing tool that allows Asian governments to force coal plants into early retirement is set to launch its first project in Indonesia "soon" following months of negotiations, the Asia Development Bank's climate envoy said on Friday....

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Japan's Mitsubishi considers opening fuel ammonia import hub

Reuters 29 Sep 2023

A new financing tool that allows Asian governments to force coal plants into early retirement is set to launch its first project in Indonesia "soon" following months of negotiations, the Asia Development Bank's climate envoy said on Friday.5.15 AM UTC....

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Coal shutdown scheme to launch first project in Indonesia 'soon': ADB

The Jakarta Post 29 Sep 2023

... project in Indonesia "soon" following months of negotiations, the Asia Development Bank's climate envoy said on Friday....

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Finastra, Tonik renew digital banking tie-up in the Philippines

Manila Standard 28 Sep 2023

John Guest, managing director for Asia Pacific universal banking at Finastra, ... Essence provides a unique combination of advanced technology with rich, broad and deep banking functionality, developed with over four decades of experience helping banks in Asia and across the world....

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Experts urge social protection for gig workers amidst growing digital economy

Dawn 28 Sep 2023

Till the world comes up with a perfect definition for gig work, experts at the Asia-Pacific Social Protection Week organised by the Asian Development Bank (ADB), between September 26-28 in Manila, Philippines, were of the opinion that it would do well to take care of gig workers....

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Interview: AIIB committed to promoting connectivity, sustainable development, says vice president

Xinhua 27 Sep 2023

The vice president described Egypt, the host nation of this year's AIIB annual meeting, also one of the bank's earliest members, as the bridge between Asia and Africa, saying it represents the mission and vision of the bank, which is to enhance connectivity across borders and promote sustainable infrastructure development....

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More Filipinos use mobile devices to manage health, finances -- study

Manila Bulletin 27 Sep 2023

This makes the Philippines the second-highest user of finance apps in Asia after India with 80 percent ... Asian Development Bank principal health specialist Eduardo Banzon for the South-East Asia Department said that, “people’s wide-scale access to health information online is a two-edged sword.”....

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Social protection through the lens of digitisation

Dawn 27 Sep 2023

He was speaking at a discussion held as part of Asia-Pacific Social Protection Week, organised by the Asian Development Bank (ADB) ... It has plunged 162 million newly poor people to the pool of already poor, which in 2017 was already more than 200 million, most of them in South Asia....

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Central Asia has been an 'intermediary' for trade between Russia and Europe, economist says

CNBC 27 Sep 2023

Beata Javorcik, chief economist at the European Bank for Reconstruction and Development, discusses economic growth in eastern and central Asia ... ....

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Russian trade, remittances boost Central Asia growth prospects - EBRD

Reuters 27 Sep 2023

LONDON, Sept 27 (Reuters) - Central Asian economies from Mongolia to Kazakhstan and Uzbekistan will see strong growth this year and next thanks to rising trade and remittance flows from Russia, the European Bank for Reconstruction and Development (EBRD) said on Wednesday....

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AIIB urged to expand loans, enhance terms

The Manila Times 26 Sep 2023

... said, adding that "multilateral development banks are expected to scale up and reform their response to these global challenges." ... Established in 2016 and headquartered in Beijing, the AIIB is a multinational development bank with a primary focus on advancing Asia's development....

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England & Company Expands to Singapore

The Galveston Daily News 25 Sep 2023

24, 2023 /PRNewswire/ -- England & Company, an independent investment bank based in the United States, announced today it has established an office in Singapore to extend the firm's corporate advisory business in the Asia-Pacific region ... He has worked across Asia and in the UK ......

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Iranian, Egyptian finance ministers meet to discuss ties, cooperation

China.dot.org 25 Sep 2023

... of the AIIB, Islamic Development Bank, and other joint banks and companies ... Operating since 2016, the Beijing-headquartered AIIB is a multilateral development bank and international financial institution that aims to collectively improve economic and social outcomes in Asia....