Economy Simplified: Learn about Asian Development Bank (ADB).

1. ADB, established in 1966 is owned by 68 members-49 from the region.
2. It aims to promote social and economic development in Asia and the Pacific.
3. It is headquartered in Manila, Philippines.
4. The ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions.
5. ADB’s five largest shareholders: As of 31 December 2020, Japan and the United States each hold the largest proportion of shares at 15.571%. China holds 6.429%, India holds 6.317%, and Australia holds 5.773%

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