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Established in 1966
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HQ : Manila, Philippines
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It is a multi-lateral lending agency
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It is modeled on the World Bank
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It has a similar weighted voting system where votes are distributed based on member’s capital subscriptions.
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ADB borrows from international capital markets with its capital as guarantee
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Japan and USA are its major donors.
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There has been criticism that ADB’s large scale projects cause social and environmental damage due to lack of oversight
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India has about 6% voting rights (4th highest; Japan highest, USA 2nd highest)
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It is owned by 67 members – 48 from the region including India.
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It is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
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It provides finance to both sovereign countries as well as to the private parties.
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It provides hard loans to middle-income countries and soft loans to poorer countries.