|Motto||ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia & the Pacific, while sustaining its efforts to eradicate extreme poverty.|
|Formation||19 December 1966|
|Type||Multilateral Development Bank|
|Purpose||Social and Economic Development|
Mandaluyong, Metro Manila, Philippines
The following table are amounts for 20 largest countries by subscribed capital and voting p
Oxfam Australia has criticized the Asian Development Bank for insensitivity to local communities. "Operating at a global and international level, these banks can undermine people's human rights through projects that have detrimental outcomes for poor and marginalized communities." The bank also received criticism from the United Nations Environmental Program, stating in a report that "much of the growth has bypassed more than 70 percent of its rural population, many of whom are directly dependent on natural resources for livelihoods and incomes."
There had been criticism that ADB's large scale projects cause social and environmental damage due to lack of oversight. One of the most controversial ADB-related projects is Thailand's Mae Moh coal-fired power station. Environmental and human rights activists say ADB's environmental safeguards policy as well as policies for indigenous peoples and involuntary resettlement, while usually up to international standards on paper, are often ignored in practice, are too vague or weak to be effective, or are simply not enforced by bank officials.
The bank has been criticized over its role and relevance in the food crisis. The ADB has been accused by civil society of ignoring warnings leading up the crisis and also contributing to it by pushing loan conditions that many say unfairly pressure governments to deregulate and privatize agriculture, leading to problems such as the rice supply shortage in Southeast Asia.
Indeed, whereas the Private Sector Operations Department (PSOD) closed out that year with financings of $2.4 billion, the ADB has significantly dropped below that level in the years since and is clearly not on the path to achieving its stated goal of 50% of financings to the private sector by 2020. Critics also point out that the PSOD is the only Department that actually makes money for the ADB. Hence, with the vast majority of loans going to concessionary (sub-market) loans to the public sector, the ADB is facing considerable financial difficulty and continuous operating losses.
The following table are amounts for 20 largest countries by subscribed capital and voting power at the Asian Development Bank as of December 2018.
(% of total)
(% of total)
ADB has 68 members (as of 23 March 2019): 49 members from the Asian and Pacific Region, 19 members from Other Regions. The year after a member's name indicates the year of membership. At the time a country ceases to be a member, the Bank shall arrange for the repurchase of such country's shares by the Bank as a part of the settlement of accounts with such country in accordance with the provisions of paragraphs 3 and 4 of Article 43.