What is the Full Form of ADB
Full Form of ADB
The full form of ADB is the “Asian Development Bank”. ADB is a regional development bank, its goal is to achieve a stable, healthy, versatile, and sustainable Asia and the Pacific while at the same time supporting and strengthening its efforts to reduce enormous poverty across the globe.
In Asia and the Pacific, ADB was founded to reduce poverty and foster economic growth, development, and mutual support between Asian Countries. It promotes social and economic growth and development in involving countries by providing loans, grants, and technical support. It comprises 67 members, including 48 from the Asia-Pacific region. Know more at wiki
A brief history of ADB
We have discussed the full form of ADB in the previous section. Here we have discussed some of the historical facts related to ADB.
- In the 1960s, the idea of the ADB was established. Subsequently, a decision on installing the ADB was agreed upon at the 1963 First Ministerial Conference on Asian Economic Cooperation.
- On 19 December 1966 ADB was established with a 31-member committee and Takeshi Watanabe became the very first president of ADB.
- In the early stages, ADB had been focused on food processing and agricultural growth.
- The Asian Development Fund was established in 1974 to lend money accessible to the weakest nation member at low interest.
- The first field office in Bangladesh was established in 1982 to get closer to the needy people.
- In mid-1997, during the region’s financial crisis, it started projects to enhance the banking industry, i.e. approving the Republic of Korea’s single most significant loan worth $4 billion per year.
- In 2004, it invested over $800 million in the rehabilitation of Tsunami-hit areas in India, Sri Lanka, Maldives, and Indonesia.
- In 2008, a new global policy structure ‘Strategy 2020’ was launched to function in response to the region’s growing needs.
- A mid-term systematic review of Strategy 2020 was published in 2014, and several operational improvements were initiated to improve company processes and become stronger and better.
ADB Focus Areas
We are now discussing the primary focus area of the ADB. The full form of ADB is described above. The fields in which ADB operations offer significance are as follows
- Regional integration
- Finance Sector development
What is the full form of ADB in Hindi?
The full form of ADB in Hindi is”एशियाई विकास बैंक”.
What is the full form of ADB in Economics?
The full form of ADB in economics is “Asian Development Bank”.
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