Where is the headquarters of Asian Development Bank (ADB) situated?
Asian Development Bank
On 19th of December 1966, the Asian Development Bank (ABD) was established which is a regional evolution bank, is headquartered in the Ortigas Center located in Mandaluyong, Metro Manila, Philippines. The Company has made approx. 31 offices across the world for the promotion of economic and social evolution within Asia. The member of the United Nations Economic and Social Commission for Asia and the Pacific are being admitted by the bank along with the non-regional evolving country. Since then, it has earned an increment in its member from 31 to 67, out of which 48 members are within Pacific and Asia and the rest 19 are from other location.
The Asian Development Bank is closely in association with the World Bank, which exists with a similar weighted voting system where the votes are distributed among the members in proportion as per their capital subscriptions.
Asian Development Bank releases an annual report which gives out the summarized detail about the budget, operations and the overview by the public.