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ASIAN DEVELOPMENT BANK
About Asian Development Bank (ADB)
ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 66 members - 47 from the region.

In 2005, it approved loans and grants for projects totaling $6.95 billion, and technical assistance amounting to $198.8 million.

Tools

ADB lends to governments and private enterprises in its developing member countries (DMCs). Its principal tools are loans and technical assistance, which are provided to governments for high-priority projects and programs. ADB's lending supports and promotes investment for development based on a country's priorities. In 2005, ADB provided loans totaling US$5.8 billion, most of which went to the public sector. The People's Republic of China was the largest borrower, followed by Indonesia, Viet Nam, Pakistan,and Bangladesh.

Generating Resources

Borrowings from the international capital markets, recycled repayments, and contributions from members finance ADB's operations. Cofinancing is also important. For every dollar lent by ADB in 2005, an additional $1.27 cents was mobilized from other official sources, export credit agencies, and commercial institutions.

Ordinary Capital Resources. Around three quarters of ADB's lending was from ordinary capital resources (OCR), which come from capital market borrowings, paid-in capital provided by members, and accumulated retained income (reserves). ADB has a triple-A rating and typically raises US$4 billion-US$5 billion a year from bond issues. OCR loans are made to members with a higher level of economic development.

In 2001, ADB introduced London interbank offered rate (LIBOR)-based loan products to meet the needs of its public and private sector borrowers in managing interest rate and exchange rate risks.

Special Funds

ADB also provides loans from its Special Funds resources. The Asian Development Fund (ADF) is a window for loans on concessional terms to members with low per capita gross national product and weak debt-repayment capacity. The ADF is financed by periodic voluntary contributions from donors.

Other Special Funds include the Technical Assistance Special Fund, Japan Special Fund, and ADB Institute Special Fund.

Other Funds

ADB manages and administers the Japan Scholarship Program Fund, Japan Fund for Poverty Reduction, and Japan Fund for Information and Communication Technology (JFICT), and channels financing of grants provided by bilateral donors to support technical assistance and soft components of loans.

The JFICT was established in 2001 to harness the potential of information and communication technology and bridge the digital divide in Asia and the Pacific. The number of channel financing arrangements rose sharply in 2001, and included nearly US$50 million in grants from Canada, Denmark, Netherlands, and United Kingdom.

Technical Assistance and Grants

Technical assistance activities - funded through grants and loans - help maximize development impact. In 2005, 299 technical assistance activities, totaling US$199 million, were provided for preparing and implementing projects; supporting advisory activities in areas such as law and policy reforms, and good governance; and undertaking regional activities.

Private Sector

ADB provides direct assistance to private enterprises through equity investments and loans without government guarantees. In 2005, ADB approved US$753.12 million for 17 private sector loans.

Partners

Although the DMCs are principally responsible for their economic and social development and poverty reduction, success depends on the united, sustained efforts of many partners. ADB works with local and national governments, nongovernment and community-based organisations and other civil society groups, the private sector, funding agencies, and other international organisations.

Locations and Staffing

ADB headquarters is in Manila. It has 26 field offices around the world, including 19 resident missions in Afghanistan, Azerbaijan, Bangladesh, Cambodia, People's Republic of China, India, Indonesia, Kazakhstan, Kyrgyz Republic, Lao People's Democratic Republic, Mongolia, Nepal, Pakistan, Papua New Guinea, Sri Lanka, Tajikistan, Thailand, Uzbekistan, and Viet Nam; a regional mission for the South Pacific in Vanuatu as liaison and coordination office for the Pacific in Australia, and a subregional office for the South Pacific in the Fiji Islands; a country office in the Philippines; and representative offices in Europe, Japan, and North America. In addition, ADB has special office in Timor-Leste, and extended missions in Kerala and Tamil Nadu, Indonesia and Sumatra, Indonesia.

ADB has more than 2,000 staff members from over 50 countries.

Members

The 66 members of ADB are the following:

Regional

Afghanistan; Armenia; Australia; Azerbaijan; Bangladesh; Bhutan; Brunei Darussalam; Cambodia; People's Republic of China; Cook Islands; Fiji Islands; Hong Kong, China; India; Indonesia; Japan; Kazakhstan; Kiribati; Republic of Korea; Kyrgyz Republic; Lao People's Democratic Republic; Malaysia; Maldives; Marshall Islands; Federated States of Micronesia; Mongolia; Myanmar; Nauru; Nepal; New Zealand; Pakistan; Palau; Papua New Guinea; Philippines; Samoa; Singapore; Solomon Islands; Sri Lanka; Taipei,China; Tajikistan; Thailand; Timor-Leste; Tonga; Turkmenistan; Tuvalu; Uzbekistan; Vanuatu; Viet Nam

Nonregional

Austria; Belgium; Canada; Denmark; Finland; France; Germany; Ireland; Italy; Luxembourg; The Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Turkey; United Kingdom; United States

Source: Asian Development Bank 2006

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