ABSTRACT
The Board is responsible for general direction of operations and exercises all powers delegated by the Board of Governors, which elects it. Three specialized committees, each comprising six members, assist the Board of Directors in exercising its authority with regard to supervising the Bank's financial statements, approving the administrative budget, and reviewing and approving policy documents and assistance operations. In May 2009 the Board of Governors approved a fifth General Capital Increase, augmenting the Asian Development Bank resources by some 200% to US $165,000m. In August 2019 the Bank's Board of Directors approved a Contingent Disaster Financing mechanism, which aimed to extend financial support for disaster preparedness and planning in developing member countries as well as accessible funds in the event of a natural disaster.
