ASIAN DEVELOPMENT BANK It is a international development financial institution that engages in mostly public sector lending for development purposes. ESTABLISHED 1966 MEMBER COUNTRIES 67 India was one of the founding members of ADB. HEADQUATER Manila, Philippines Mission - To help its developing member countries reduce poverty and improve quality of life.
ADB offers grants and below market interest rates on loans to lower to middle-income countries. ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development. ADB is composed of 67 members, 48 of which are from the Asia and Pacific region and rest from other parts of the globe. Major stakeholders-USA and Japan and China has 6% stake.
Core Sectors of ADB Finance sector development Regional Cooperation Infrastructure Environment (including climate change) .Education Funds It raises capital through the international bond markets. It relies on member contributors, retained earnings from lending, repayment of loans for the funding of the organisation.
. The ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Main partners governments, private sector, non-government organisations, development agencies, community based organisations. Strategy 2030 sets the course for ADB's efforts to respond effectively to the Asia and Pacific region's changing needs.
ASIAN INFRASTRUCTURE INVESTMENT BANK (AllB) As a development Bank, Allb will fund infrastructure development and invest in projects to contribute to the economic development of the Asian region. Launched in 2016. MEMBER COUNTRIES 57 founding members to 93 approved members (Dec, 2018) HEADQUATER Beijing By investing in sustainable infrastructure and other productive sectors in Asia and beyond, we will better connect people, services and markets that over time will impact the lives of billions and build a better future
. It is an initiative by China to fund for infrastructure development in Asia, and now it has become a multilateral institution which raise private sector investment to fund projects.The bank was proposed by China in 2013 and the initiative was launched in 2014. It was first mentioned by Chinese President Xi Jinping in Indonesia parliament.
About AIIB Multilateral Financial Institution founded to bring countries together to address Asia's daunting infrastructure funding gap estimated at USD26 trillion through 2030. Mission To improve economic and social development in Asia and beyond through a focus on sustainable infrastructure, cross-border connectivity and private capital mobilization. Credit strength Strong support from diversified global shareholder base. USD100 billion capital stock.
Subscribed capital stock - USD 100 billion, with USD 20 billion as paid- in capital made in five annual instalments. Current share holding China-31.02% India-8.72% Russia-6.81% For India - AllB's main focus for project is rural roads, transmission lines as well as environmental projects in India.
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