Foundation Date : December 19th 1966
Headquarter : Manila
President : Takehiko Nakao
Member Countries : 67
ADB was conceived amid the postwar rehabilitation and reconstruction efforts of the early 1960s. The vision was of a financial institution that would be Asian in character and foster economic growth and cooperation in the region - then one of the poorest in the world.
A resolution passed at the first Ministerial Conference on Asian Economic Cooperation held by the United Nations Economic Commission for Asia and the Far East in 1963 set that vision on the way to becoming reality.
The Philippines capital of Manila was chosen to host the new institution - the Asian Development Bank - which opened on 19 December 1966, with 31 members that came together to serve a predominantly agricultural region. Takeshi Watanabe was ADB's first President.
For the rest of the 1960s, ADB focused much of its assistance on food production and rural development. Its operations included ADB's first technical assistance, loans, including a first on concessional terms in 1969, and bond issue in Germany.
ADB's Independent Evaluation Department helps ADB become a learning organization that continuously improves its development effectiveness and is accountable to its stakeholders. Strategic principles give context and coherence to action, and frame the generation and appraisal of alternative options.
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