ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners, ADB provides quality development solutions to solve the region’s complex challenges.
Founded in 1966, ADB is owned by 69 members—50 from the region.
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ADB supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
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Who We Are
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
About ADB
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
ADB History
Origins
ADB was conceived in the early 1960s as a financial institution that would be Asian in character and foster economic growth and cooperation in one of the poorest regions in the world.
A resolution passed at the first Ministerial Conference on Asian Economic Cooperation held by the United Nations Economic Commission for Asia and the Far East in 1963 set that vision on the way to becoming reality.
The Philippines capital of Manila was chosen to host the new institution, which opened on 19 December 1966, with 31 members that came together to serve a predominantly agricultural region. Takeshi Watanabe was ADB's first President.
During the 1960s, ADB focused much of its assistance on food production and rural development.
1970s
When the world suffered its first oil price shock, ADB increased its support for energy projects, especially those promoting the development of domestic energy sources in member countries.
Cofinancing operations, in which ADB manages the funds of other organizations, began to provide additional resources for ADB projects and programs. ADB’s first bond issue in Asia—worth $16.7 million and issued in Japan—took place in 1970.
A major landmark was the establishment in 1974 of the Asian Development Fund to provide low-interest loans to ADB's poorest members.
By the end of the decade, some Asian economies had improved considerably and no longer needed ADB's assistance.
Lending Operations by Fund Type, 1968-1976
Lending Operations by Region, 1968-1976
1980s
In the wake of the second oil crisis, ADB continued its support to infrastructure development, particularly energy projects. ADB also increased its support to social infrastructure, including projects involving microfinance, the environment, education, urban planning, health issues, and helping women and girls.
In 1982, ADB opened its first field office—in Bangladesh—to bring operations closer to the people in need. Later in the decade, ADB began working with nongovernment organizations to help disadvantaged groups.
Lending Operations by Fund Type, 1977-1986
Lending Operations by Region, 1978-1986
1990s
In 1995, ADB became the first multilateral organization to have a Board-approved governance policy to ensure that development assistance fully benefits the poor. Policies on involuntary resettlement and indigenous peoples were also put in place.
ADB's membership continued to expand with the addition of several Central Asian countries following the end of the Cold War.
In mid-1997, a severe financial crisis hit the region, setting back Asia's economic gains. ADB responded with projects and programs to strengthen financial sectors and create social safety nets for the poor. ADB approved its largest single loan—a $4 billion emergency loan to the Republic of Korea—and established the Asian Currency Crisis Support Facility to accelerate assistance.
In 1999—recognizing that economic development was bypassing many people in the region—ADB adopted poverty reduction as its overarching goal.
Lending Operations by Fund Type, 1987-1996
Lending Operations by Region, 1987-1996
2000s
With the new century, ADB focused on helping its member countries achieve the Millennium Development Goals.
In 2003, the severe acute respiratory syndrome (SARS) epidemic hit the region, making it clear that fighting infectious diseases requires regional cooperation. ADB began providing support at national and regional levels to help countries more effectively respond to avian influenza and the growing threat of HIV/AIDS.
ADB also had to respond to unprecedented natural disasters, committing more than $850 million for recovery in areas of India, Indonesia, Maldives, and Sri Lanka hit by the December 2004 Asian tsunami. In addition, a $1 billion line of assistance to help victims of the October 2005 earthquake in Pakistan was set up.
In 2009, ADB's Board of Governors agreed to triple ADB's capital base from $55 billion to $165 billion, giving it more resources to respond to the global economic crisis.
Lending Operations by Fund Type, 1997-2006
Lending Operations by Region, 1997-2006
2010s
Asia moved beyond the economic crisis to emerge as a new engine of global growth in 2010 when the region’s gross domestic product increased by 9%. This was more than double the global growth rate during the same period and well above the 5.9% rate recorded in the region in 2009.
While the speed and strength of its economic recovery surprised many, the region still faced daunting challenges and remained home to two thirds of the world’s poor and a growing problem of inequality. This increasing gap between the rich and poor focused ADB on the need to promote inclusive growth in the region.
In response to reforms initiated by the Government of Myanmar, ADB resumed operations in the country. In April 2014, ADB established offices in Nay Pyi Taw and Yangon.
In May 2014, plans were announced to combine the lending operations of ADB’s two main funds, the Asian Development Fund and its ordinary capital resources. The merger will boost ADB’s total annual lending and grant approvals to as high as $20 billion—50% more than the current level when it takes effect in January 2017.
As the era of the Millennium Development Goals (MDGs) draws to a close, the results have been mixed. While ADB’s work has contributed to Asia and the Pacific slashing extreme poverty by more than half, the region is still home to 1.2 billion people who live on $3.10 a day or less and almost three-quarters of the world’s underweight children. About 600 million people have no access to electricity and 1.7 billion still lack improved sanitation. A huge amount of work still must be done with the new Sustainable Development Goals as important guideposts.
Lending Operations by Fund Type, 2007-2016
Lending Operations by Region, 2007-2016
Masatsugu Asakawa (17 January 2020 - 23 February 2025)
Masatsugu Asakawa joined ADB on 17 January 2020 and served as ADB President until 23 February 2025.
Over the course of his tenure, Mr. Asakawa led the institution through unprecedented global challenges and significant milestones that have strengthened ADB’s role in fostering development and resilience across Asia and the Pacific.
Under Mr. Asakawa’s leadership, ADB launched a swift and comprehensive response to the COVID-19 pandemic, including the creation of a $20 billion response package that provided critical support to the most vulnerable communities. The establishment of the Asia Pacific Vaccine Access Facility ensured the procurement and distribution of life-saving vaccines to millions across the region.
Mr. Asakawa also spearheaded a commitment to mobilize at least $100 billion in climate financing by 2030 to support mitigation and adaptation efforts, including through the private sector.
In addition, he oversaw key reforms to ADB’s Capital Adequacy Framework, which unlocks an additional $100 billion in lending capacity over the next decade, enabling ADB to continue addressing the region’s development challenges.
He also prioritized strengthening domestic resource mobilization, helping developing member countries build more resilient financial systems through improved tax policies, financial sector reforms, and public financial management.
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Takehiko Nakao (28 April 2013- 16 January 2020)
Takehiko Nakao joined ADB on 28 April 2013 and served as ADB President for almost 7 years until 16 January 2020.
Under his leadership, ADB expanded its operations through an increase in new lending and grant from $14 billion in 2013 to $22 billion in 2018 while incorporating more advanced technologies into projects, Ordinary Capital Resources and concessional lending operation of the Asian Development Fund (ADF) were merged, which enabled the expansion of operations thanks to much larger combined equity and leverage for concessional lending, and Strategy 2030 was launched.
Other key achievements include important knowledge works including ADB’s 50 years history book, visits to many member countries, cooperation with development partners, institutional reforms to make ADB “stronger, better and faster”, proactive human resource management, and improving financial sustainability of the staff pension system by introducing defined contribution plan for new hires.
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Haruhiko Kuroda (1 February 2005 - 18 March 2013)
Haruhiko Kuroda joined ADB on 1 February 2005 and served as ADB President for more than 8 years until 18 March 2013.
Under his leadership, ADB tripled its operations from $7.4 billion in 2005 to $21.57 billion in 2012 including cofinancing, formulated its long-term plans as set out in Strategy 2020, and carried out many internal reforms. To meet the region’s growing demand for development finance, Mr. Kuroda led ADB’s first general capital increase in 14 years, which tripled its capital base to $165 billion, and two replenishments of the Asian Development Fund, raising over $23 billion to help meet the needs of ADB’s poorest member countries.
Mr. Kuroda’s tenure covered a period of significant growth in the region, but also one of tremendous challenges. During the 2008 global financial crisis, which affected many of ADB’s developing member countries, ADB provided much-needed assistance through the establishment of a $3 billion Countercyclical Support Facility to meet urgent needs. ADB also expanded its Trade Finance Program, which supported $2 billion in trade, bolstered small and medium-sized enterprises, and protected jobs and industries in the most challenging markets.
Other key achievements include the establishment of the ADB-administered ASEAN Infrastructure Fund, which will help meet the needs for infrastructure connectivity in Southeast Asia, and ADB’s resumption of operations in Myanmar after more than 20 years.
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Tadao Chino (16 January 1999 - 31 January 2005)
Tadao Chino, ADB's seventh President, took office during a challenging period. Several developing member countries (DMCs) were still suffering after the 1997-1998 financial crisis and needed help recovering.
Under Mr. Chino's leadership, several important ADB policies and strategies were approved. These include Poverty Reduction Strategy, Private Sector Development, ADB reorganization, and Resident Mission Policy. ADB also adopted its long-term strategic framework, which set ADB’s strategic direction and laid the basis of its assistance to DMCs in their effort to achieve the Millennium Development Goals by 2015.
Tadao Chino passed away on 17 July 2008 in Japan at the age of 74.
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Mitsuo Sato (24 November 1993 - 15 January 1999)
Mitsuo Sato, ADB's sixth President, oversaw a wide-ranging slate of reforms to strengthen the ability of ADB to respond to the needs of its developing member countries.
Under Mr. Sato, ADB underwent a re-organization to shift to a closer country-focus approach. ADB also instituted a process to ensure project quality and committed itself to pursuing social development objectives.
Mitsuo Sato passed away on 20 October 2002 in Japan at the age of 69.
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Kimimasa Tarumizu (24 November 1989 - 23 November 1993)
Kimimasa Tarumizu, ADB's fifth President, oversaw the inauguration of ADB’s new headquarters in Mandaluyong, Metro Manila. The transfer took place after ADB had been located on Roxas Boulevard for 19 years. The move allowed ADB to centralize its operations, which had spread to several locations in Metro Manila over the years.
Under Mr. Tarumizu, ADB's annual lending commitments rose to almost $5 billion. By 1991, cumulative total lending reached $37.6 billion for 1,039 projects.
On the borrowing front, ADB entered new markets with the launch in 1991 of a $300 million "Dragon bond" issue which was offered simultaneously in the capital markets of Hong Kong, China; Singapore; and Taipei,China.
Kimimasa Tarumizu passed away on 21 February 2009 in Japan at the age of 78.
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Masao Fujioka (24 November 1981 - 23 November 1989)
Masao Fujioka was a man in a hurry when he took over in 1981 as fourth ADB’s President. Upon his arrival at the airport, he sent his bags home and was driven straight to the office. Mr. Fujioka was instrumental in promoting greater coordination of ADB operations, increased cofinancing, and equity investments to private enterprise.
In 1986, the People's Republic of China joined ADB, and a first loan was approved for India—a $100 million lending facility to the Industrial Credit and Investment Corporation of India for onlending to private sector enterprises.
Under Mr. Fujioka, additional replenishments were made to ADF, and the Japan Special Fund was created. In 1983, Mr. Fujioka also presided over a third general capital increase (GCI III), which raised ADB's capital by 105 percent.
Masao Fujioka passed away on 27 December 2021 in Japan at the age of 97.
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Taroichi Yoshida (24 November 1976 - 23 November 1981)
Taroichi Yoshida, appointed in 1976 as third ADB President, was concerned from the outset with economy and husbandry. During his administration, additional strategies were developed to reduce poverty in the Asia-Pacific region, and operations were restructured to take a more country-focused view.
Multiproject loans, a cost-effective means of funding projects too small for ADB’s involvement, were introduced. A first multiproject loan to Tonga was made.
In 1978, donors agreed to a second replenishment to ADF (ADF III) in the amount of $2.15 billion to cover the period from 1979-1982. In 1980, ADB initiated sector lending. This new approach entails a single loan that is used to finance a cluster of subprojects with a specific sector or subsector. The first sector loans were provided to Indonesia for water supply and Thailand for highway construction.
Taroichi Yoshida passed away on 14 March 2014 in Japan at the age of 94.
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Shiro Inoue (25 November 1972 - 23 November 1976)
In 1972, Shiro Inoue was appointed as ADB's second President. Under Inoue, lending commitments rose steadily from $316 million in 1972 to $776 million in 1976. In response to the economic dislocation of the first oil crisis on the region's developing countries, ADB supported the development of indigenous energy resources and dam projects for electricity generation.
Membership also continued to grow. Bangladesh and Myanmar joined ADB in 1973, followed by a number of newly independent Pacific island countries. In 1974, the Asian Development Fund was established to streamline ADB's means for financing concessional loans.
Shiro Inoue passed away on 11 July 2010 in Japan at the age of 95.
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Takeshi Watanabe (24 November 1966 - 24 November 1972)
Takeshi Watanabe, the first President of ADB, combined idealism with practicality and toughness with compassion. Mr. Watanabe once likened ADB to "a family doctor" who tries to learn about the health of his many patients so he can help in their hour of need. Policies and targets were formulated, and regional surveys were undertaken to develop a fuller understanding of the social and economic conditions of ADB's developing member countries.
ADB approved its first loan—a $5 million to the Industrial Finance Corporation of Thailand for onlending to industrial enterprises—on 23 January 1968, just a little more than a year after it had started business.
Takeshi Watanabe passed away in Japan on 23 August 2010 at the age of 104.
Annual Report
ADB Annual Report 2024
ADB committed $24.3 billion from its own resources in 2024, coupled with $14.9 billion in cofinancing in collaboration with its partners, to help Asia and the Pacific solve a range of complex development challenges.
Financial Highlights
2024 Commitments
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$24.3 B
Total ADB Commitments
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$16.9 B
Cofinancing, including trust funds
ADB Commitments by Region, 2024
Policies and Strategies All Policies, Strategies, and Plans
Strategy 2030
Strategy 2030 sets the course for ADB’s efforts to respond effectively to the Asia and Pacific region’s changing needs. Under Strategy 2030, ADB will expand its vision to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
Strategy 2030 Midterm Review - A Road Map for Evolution
The review sharpens ADB’s strategic focus and sets new corporate targets in key areas. In line with its mandate to fight poverty and improve lives and livelihoods, ADB will deepen its focus on five of the region’s most pressing development issues.
Partnership Strategies
The country partnership strategy is ADB's primary platform for designing operations to deliver development results at the country level.
The regional cooperation strategy outlines how an ADB-defined region or subregion can work together to foster economic growth and cooperation.
Transparency and Accountability
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