The Asian Development Bank

Situated in Metro ManilaMany people visit Metro Manila in the Philippines on a regular basis and each of them have a different reason for their particular visit. For those that are on a business trip they are very likely to end up at the Asian development Bank which has been established in Metro Manila in 1966 with one objective and that is to stimulate economic development in Asia. There are many partners involved in this particular venture and the membership has actually grown from only 31 in 1966 to 67 members of which 48 are from within the Asian region. The business structure and the operations of the Asian development Bank are very similar to those which I used by the World Bank and they also use the same voting system which is implemented at the World Bank which is in proportion with a members capital investment. According to statistics which were released in 2013 Japan are apparently holding the largest amount of shares at 15.67% while the US holds 15.56% with China significantly less at 6.47%.The function of the board of governorsThis board is primarily responsible for most of the policymaking of the Asian development Bank and they are composed of one representative from each member state. The board of governors themselves are then responsible to elect the 12th executive members of the board of which eight have to come from the Asian region and four from elsewhere. It is also the function of the board of governors to elect the president of the bank who will function as the chairperson of the board of directors and who is ultimately responsible to manage the Asian development Bank. Each president will then be required to serve for a period of five years after which they may be re-elected. Because of Japans large investment in the Asian development Bank the president of the Asian development Bank has been mostly Japanese. This is why the most recent president has been Takehiko Nakao and the one before him was Haruhiko Kuroda.This bank has global representationAlthough the bank are primarily located in Metro Manila in the Philippines it actually has many representatives all over the planet. The Asian development bank employs over 3000 people of whom almost 1500 comes from the Philippines. The Asian development Bank provides financial assistance in many ways such as hard loans which comes from ordinary capital resources and which are provided on commercial terms and then it also has an affiliate department which extends soft loans for which provision is made in special fund resources under predetermined conditions. The Asian development Bank borrows primarily from various international capital markets. In 2009 the Asian development Bank responded to a call from the G 20 leaders to substantially increase available resources to multilateral development banks in order to stimulate growth especially in developing countries and to provide some form of relief from the global financial crisis. This led to a significant increase in the amount of financial loans which were extended by the Asian development Bank and this led to an increase of the banks capital base from a mere $55 billion to over $160 billion.

The Asian Development Bank - Attention to Development in Asiahttp://www.tradeore.com/forum/Attention_to_Development_in_Asia/ADB.htm

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