News:India and Asian Development Bank(ADB) has signed $200 million loan agreement for upgrading rural roads in 34 districts of Maharashtra to improve road safety.
About Asian Development Bank(ADB):
- The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966.
- ADB is headquartered in Manila, Philippines.It aims to promote social and economic development in Asia.
- It assists its members and partners by providing loans, technical assistance, grants and equity investments to promote social and economic development.
- ADB has 67 members, of which 48 are from within Asia and the Pacific and 19 outside.
- Japan and US holds the largest proportion of shares in ADB followed by China, India and Australia. ADB is also an official United Nations Observer.