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The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, [3] which is headquartered in 6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines. The bank also maintains 31 field offices around the world [ 4 ] to promote social and economic development in Asia.
The ADBI is on the eighth floor of the Kasumigaseki Building in Tokyo.. The Asian Development Bank Institute (ADBI) is an Asian think tank focused on identifying effective development strategies for Asia and the Pacific, and on providing support to ADB member countries in managing development challenges.
The Central Asia Regional Economic Cooperation (CAREC) Program is a program established in 1997 by the Asian Development Bank (ADB) to encourage economic cooperation among countries in Central Asia and nearby parts of Transcaucasia and South Asia.
The regional development banks consist of several regional institutions that have functions similar to the World Bank group's activities, but with particular focus on a specific region. Shareholders usually consist of the regional countries plus the major donor countries.
African Development Bank (AfDB) Asian Development Bank (ADB) Asian Infrastructure Investment Bank (AIIB) Black Sea Trade and Development Bank; Caribbean Development Bank (CDB) Colombo Plan (CP) Development Bank of Latin America and the Caribbean (CAF) Eurasian Development Bank; European Bank for Reconstruction and Development (EBRD) European ...
In 2016, the Asian Infrastructure Investment Bank and BRICs New Development Bank began operations. [18] Like other multilateral development banks, (MDBs), the IBRD has a preferred credit treatment (PCT), through which borrowers grant the MDBs a "privileged position to be first in line for repayment, should a country face financial restrictions."
International Bank for Reconstruction and Development, one of the two lending arms traditionally considered to be the World Bank. Typically lends to middle-income governments, also some creditworthy low-income countries. Founded in 1944. FY 2014 commitments $18.6 billion. Lends at market rate. Guarantees loans
The World Bank, IMF, and Asian Development bank have all cooperated with the AIIB as a compliment to the Bretton Woods institutions and which further increases overall capacity for development funds. [83] Economist C. Fred Bergsten describes the AIIB as "helping meet a clear need for more infrastructure funding throughout Asia (and elsewhere)."