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%.

Latest News for: Asia development bank

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Opinion: How U.S. Global Infrastructure Push Will Affect Belt and Road

Caixin Online 30 Jul 2021
According to the Asian Development Bank, developing countries in Asia alone will need $26 trillion of infrastructure investment by 2030 ... The initiative is designed to provide $40 trillion for developing countries by 2035 to support “climate, health and health security, digital technology and gender equity and equality.”....
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Challenges and opportunities in S’pore’s post-pandemic recovery

Straits Times 30 Jul 2021
The Asian Development Bank has cut its growth outlook for South-east Asia, with expansion expected to be 4 per cent this year, down 0.4 percentage point from its last projection in April ... OCBC Bank's head of treasury research and strategy Selena Ling calls the structural shift to a digital economy "unstoppable"....
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Statistical glitter owes to shady gold in Cambodia

Asiatimes 28 Jul 2021
... accounting for roughly 30% of all imports, according to Asia Times’ analysis of central bank data ... In 2020, Cambodia’s gold exports rose by 676%, from $388 million in 2019 to about $3 billion, the Asia Development Bank (ADB) reported in its recent Asian Development Outlook study....
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Myanmar’s political crisis is fueling an ‘uncontrolled’ outbreak of COVID-19

Finger Lakes Times 27 Jul 2021
“If the COVID situation can’t be controlled in Myanmar, it will be very dangerous for other countries especially in Southeast Asia but also for the whole world,” said Dr ... The prices of eggs and other commodities are soaring because of panic buying, worsening hunger in a country that is one of the poorest and least developed in Asia....
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Security Bank recognized as Best Retail Bank in PH

The Manila Times 26 Jul 2021
Alpha Southeast Asia, one of the leading financial capital markets magazines in the region, recognized Security Bank Corp ... Alpha Southeast Asia attributed this to Security Bank's "unique commitment in helping develop retail banking in the Philippines."....
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Four of Hong Kong's top banks halt some Evergrande mortgages

Straits Times 22 Jul 2021
HONG KONG (BLOOMBERG) - HSBC Holdings, Bank of China's Hong Kong unit and at least two other major lenders stopped providing mortgages to buyers of China Evergrande Group's unfinished residential properties in Hong Kong, the latest sign of dwindling confidence in the developer's financial strength ... Bank of East Asia ranked 7th....
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Despite Taliban Advances, Central Asia Eyes Trade Ties With South Asia

Radio Free Europe 22 Jul 2021
Central Asia has long advertised itself as the crossroads ... The Asian Development Bank’s Central Asia Regional Economic Cooperation (CAREC) trade corridors and China’s Belt and Road Initiative (BRI) have helped extend Central Asia’s east-west connectivity....
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Why COVID-19 Is Rising Around Asia This Year After a Mild 2020

Voa News 22 Jul 2021
Much of 660 million-population Southeast Asia now faces new rounds of economic inactivity triggered by business closures and stay-home orders to contain the virus. The Asian Development Bank said this month it had downgraded Southeast Asia’s 2021 economic growth forecast to 4.0% from 4.4% “as some countries reimpose pandemic restrictions.”....
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The importance of MSMEs in the Philippines

The Manila Times 22 Jul 2021
According to the Asian Development Bank (ADB), MSMEs are the backbone of economies in Asia and are considered its driving force ... MSMEs play a key role in developing the Philippine economy ... These areas are more developed and are places where SMEs thrive ... This makes banks hesitant to provide the loans needed by these businesses....
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Some Hong Kong banks decline mortgages for Evergrande’s off-plan projects

Metro USA 21 Jul 2021
Other banks that are halting mortgages include Bank of East Asia, but the brokers said the banks were still approving mortgages for one Evergrande development that had completed construction ... Standard Chartered and Bank of East Asia did not immediately respond to request for comment....
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HSBC, StanChart halt new loans to two HK projects by Evergrande, brokers say

Metro USA 21 Jul 2021
One of the brokers also told Reuters that Bank of East Asia had taken a similar step ... The three brokers said the banks had halted lending to two residential projects in Hong Kong that were scheduled for completion in August and October, but they said the banks were still lending for a third, completed Evergrande development....
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