ASIAN DEVELOPMENT BANK (ADB) :-
Asian Development Bank was established on August 22, 1996. It was ratified by 15 countries. It started functioning in December 1996. Its headquarter in Manila.
Members of ADB are more than 48. Thirty members are from Asian cou8ntries. Membership of ADB is open for all the members of UNO or its any specialized agency. USA, UK and 15 West European countries are its members.
1. Ordinary capital sources.
2. Special Funds.
Ordinary sources are those which are paid in capital by the member countries. Bank has borrowed from the world market and its income from investment. On other hand special funds are contributed by the developed countries. Income from special funds, investment and transferred amount from the ordinary sources is also its main source.
A board of governors manages its operation. There are 12 directors in the board of governors. President of the bank the chairman of the board. Each director of the board holds the office for 2 years.
The objective of ADB is to increase the rate of economic growth in the Asian member countries.
ADB has established the various other funds like Asian Development Fund (ADF). Multi purpose special fund (MPSF) nad agricultural special fund (ASF) provide technical assistance on priority basis.