Asian Development Bank : New Initiative
The Asian Development Bank (ADB) President recently announced a five-year initiative to transform urban infrastructure across India, with an estimated investment of $10 billion.
- Asian Development Bank (ADB) is a multilateral development bank established on 19th December 1966.
- It is the principal international development finance institution for the Asia-Pacific region.
- It envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region.
- Headquarters: Manila, Philippines.
- Membership in the ADB is open to members and associate members of the United Nations Economic Commission for Asia and the Far East.
- It’s also open to other regional countries and non-regional developed countries that are members of the U.N. or of any of its specialized agencies.
