The Asian Development Bank (ADB) is a regional development bank established in 1966 with its headquarters in Manila, Philippines. Its primary objective is to promote social and economic development in Asia and the Pacific through loans, technical assistance, grants, and equity investments.
ADB functions as a financial institution dedicated to reducing poverty and fostering sustainable growth by investing in infrastructure, education, health, environmental sustainability, and governance.
Four Goals of ADB:
- Poverty Reduction:
ADB aims to alleviate poverty by supporting inclusive economic growth and improving access to essential services such as education, healthcare, and housing. - Promoting Regional Cooperation and Integration:
ADB promotes regional partnerships and collaborative frameworks among member countries for trade, investment, and infrastructure connectivity. - Sustainable Environmental Management:
ADB supports projects that address climate change, biodiversity conservation, and natural resource management, ensuring environmental sustainability. - Gender Equality and Social Inclusion:
It strives to empower women and marginalized communities by ensuring their participation in development processes and equitable access to resources and services.
These goals align with the Sustainable Development Goals (SDGs) and reflect ADB’s commitment to comprehensive development strategies.