The Asian Development Bank (ADB) celebrates its Foundation Day on December 19th, marking the date of its official establishment in 1966 to promote economic growth and cooperation in the Asia-Pacific region, with operations starting in 1967 from its Manila headquarters.
Key Facts about ADB's Foundation:
- Established: December
19, 1966.
- First
Operations: Started in 1967.
- Purpose: To
foster economic development and cooperation in Asia.
- Headquarters: Manila,
Philippines.
- Founding
Members: Began with 31 countries, expanding to 69 members today (50
from the region, 19 non-regional).
- Role: Provides
loans, grants, technical assistance, and equity investments to support
development.
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