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ADB Full Form - Asian Development Bank

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ADB-Asian Development Bank

ADB stands for Asian Development Bank. It's a regional development bank that's Asian in character. It had been established to reduce poverty and foster economic growth and cooperation in Asia and therefore the Pacific.
It assists within the socio-economic development in member countries by providing loans, grants and technical assistance.
Its 67 members, 48 of which are from Asia and Pacific region.
It's headquartered at Mandaluyong, Philippines and as of July 2017, Takehiko Nakao is that the president of ADB.

ADB Areas of Focus

The idea of Asian Development Bank conceived within the early 1960s. Later, a resolution was passed at the primary Ministerial Conference on Asian Economic Cooperation in 1963 to establish the ADB.
On 19 December 1966, ADB was established with 31 members and Takeshi Watanabe as its first President. Within the beginning, ADB was focused on food production and rural development.
In 1970, ADB's first bond issue worth $16.7 million issued in Japan.
In 1974, Asian Development Fund was established to supply low-interest loans to the poorest member countries.
In 1982, it opened its first field office in Bangladesh to return closer to the people in need.
In mid-1997, during severe financial crisis within the region, it started projects to strengthen the financial sector, i.e. It approved its largest single loan worth $4 billion to the Republic of Korea.
In 2004, it spent quite $800 million for the recovery of areas hit by Tsunami in Sri Lanka , India, Indonesia and Maldives.
In 2008, it launched a replacement long-term strategy framework 'Strategy 2020' to reply to the changing needs of the region.
In 2014, a midterm review of the Strategy 2020 was released and various organizational changes were introduced to boost the business processes and to become stronger and better.