The Asian Development Bank (ADB) is a development finance institution for the countries of the Asian and Pacific regions. The Bank's current membership is 58 countries (1999). Funds come from member governments, borrowing on the world capital markets, and the Bank's own earnings. These funds are directed towards development projects such as those in the fields of agriculture, health, energy, education, urban development and water supply and sanitation and are aimed at developing countries in these regions.

The ADB was founded in 1966 with an objective of promoting the social and economic progress of the Asian and Pacific region. The medium-term (1995-1998) objectives for the ADB are to promote economic growth, reduce poverty, support human development (including population planning), improve the status of women, and protect the environment.

Australia is a regional member of the ADB and is the fifth largest shareholder in the Bank. We are contributing A$113.8m in 1998/99 towards the funds of the Bank.

The ADB's headquaters are located in Manila, Phillipines. It has offices in a number of Asia-Pacific countries to help it work closely with these countries.

A more in-depth overview of the ADB can be found on:
http://www.adb.org/About/default.asp

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