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The Asian Development
Bank (ADB) is a multilateral development finance institution owned
by 63 members, 45 from Asia and the Pacific and 18 from other parts
of the globe. The overarching goal of ADB is to reduce poverty. To
achieve this, ADB supports activities in its developing member
countries to promote pro-poor economic growth, inclusive social
development, and good governance. Under its Long-Term Strategic
Framework (2001–2015), ADB takes into account in its activities
three crosscutting themes: private sector development, regional
cooperation, and environmental sustainability.
ADB’s
principal tools are loans, guarantees, and technical assistance,
which it mainly provides to governments for specific projects and
programs. ADB’s lending volume in 2004 was US$5.3 billion. Technical
assistance, which is used for preparing and implementing projects,
supporting advisory activities, and undertaking regional activities,
amounted to US$196.6 million. ADB-administered grants totaled
US$99.4 million.
ADB was established in
1966. ADB’s headquarters is in Manila. It has 26 offices around the
world. ADB’s staff consists of more than 2,000 employees from over
50 countries. Pakistan was one of its 31 founding members.
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