What does Asian Development Bank do?

The Asian Development Bank (ADB) is a prominent multilateral development bank established in 1966, dedicated to fostering inclusive, resilient, and sustainable growth in Asia and the Pacific. With 69 member countries, including 50 from the region, ADB is headquartered in Manila and operates 26 additional offices worldwide. Its primary mission is to assist developing member countries in reducing poverty and enhancing the quality of life for their populations. ADB implements its initiatives through a variety of financial and advisory services, including loans, grants, technical assistance, and equity investments. The bank focuses on several key areas such as infrastructure development, healthcare, education, climate change mitigation, and gender equality. Under its Strategy 2030, ADB aims to address the evolving needs of the region while committing significant resources to climate finance and sustainable development. In 2024, ADB committed $24.3 billion from its own resources, alongside $14.9 billion in cofinancing, to support its development goals.