chapter  7
12 Pages

The evolution of the World Bank and its implications for the Asian Development Bank

ByDevelopment Bank David Vines

The Asian Development Bank (ADB) is a multilateral financial institution taking the form of a regional development bank. The bank was founded in 1966 to be an institution similar to the World Bank but regionally focused, like the African Development Bank or the Latin American Development Bank. It is owned by 67 members, 48 from the region and 19 from other parts of the globe. The number of owners has increased considerably since the ADB was established.