Asian Development Bank

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Definition of 'Asian Development Bank'

The Asian Development Bank (ADB) is a multilateral development bank that promotes economic growth, social development, and regional integration in Asia and the Pacific. Established in 1966, ADB is owned by 68 member countries from the region and beyond. Its main offices are located in Manila, Philippines.

ADB provides loans, grants, and technical assistance to its developing member countries (DMCs) to help them achieve sustainable growth and reduce poverty. ADB also works with DMCs to improve their economic and social policies, and to build their capacity to manage their economies.

ADB's lending operations are guided by its Strategy 2030, which aims to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. ADB's lending portfolio is focused on five priority areas:

* Infrastructure
* Energy
* Climate Change
* Agriculture and Natural Resources
* Social Development

ADB also provides technical assistance to DMCs to help them develop their policies, institutions, and capacity to implement their development programs. ADB's technical assistance portfolio is focused on the same five priority areas as its lending portfolio.

ADB is committed to achieving its goals through partnership with its DMCs, other development partners, and the private sector. ADB works with its partners to mobilize resources, share knowledge, and leverage expertise to achieve development results.

ADB is a leading development institution in Asia and the Pacific. It has a long history of working with DMCs to achieve sustainable development and reduce poverty. ADB's Strategy 2030 provides a roadmap for its work in the region over the next 15 years. ADB is committed to working with its partners to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.

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