What is the Full form of ADB? | About ADB Full Form in Bank
ADB Full Form – The Asian Development Bank or ADB is a regional development bank. It was established on 19 December 1966 and aimed towards reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
The Asian Development Bank has helped many people by bringing labour skills in Thailand, earthquake and tsunami emergency support project in Indonesia, offshore oil and gas development, strategic private sector partnerships for urban poverty reduction in the Philippines, Greater Mekong sub regional program, Trans-Afghanistan gas pipeline feasibility assessment, etc.
However, ADB does get criticised for many reasons. Critics have said that Japan and the USA, two countries which are the major donors, exercise too much control over lending, policy and staffing decisions. Oxfam Australia has criticized the Asian Development Bank, stating that it shows too much insensitivity to local communities, and that they need ADB’s help too. Watanabe was the first ADB president until 1972. Masatsugu Asakawa is a Japanese civil servant and the current and 10th president of the Asian Development Bank.