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| Home » International Banking Institutions » Asian Development Bank | ||||||||||||||||||||||
Asian Development Bank |
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The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regional developed countries. |
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From 31 members at its establishment, ADB now has 67 members - of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with member's capital subscriptions. At present, both the United States and Japan hold 552,210 shares, the largest proportion of shares at 12.756% each. The highest policy-making body of the bank is the Board of Governors composed of one representative from each member state. The Board of Governors, in turn, elect among themselves the 12 members of the Board of Directors and their deputy. |
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Eight of the 12 members come from regional (Asia-Pacific) members while the others come from non-regional members. Given ADB's annual lending volume, the return on investment in lesson learning for operational and developmental impact is likely to be high and maximizing it is a legitimate concern. All projects funded by ADB are evaluated to find out what results are being achieved, what improvements should be considered, and what is being learned. The head office of the bank is at 6 ADB Avenue, Mandaluyong City, Metro Manila, Philippines, and it has representative offices around the world. |
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There are two types of evaluation: independent and self-evaluation. Self-evaluation is conducted by the units responsible for designing and implementing country strategies, programs, projects, or technical assistance activities. It comprises several instruments, including project/program performance reports, midterm review reports, technical assistance or project/program completion reports, and country portfolio reviews. All projects are self-evaluated by the relevant units in a project completion report. ADB’s project completion reports are publicly disclosed on ADB’s Internet site. Client governments are also required to prepare their own project completion reports. Independent evaluation is a foundation block of organizational learning: it is essential to transfer increased amounts of relevant and high-quality knowledge from experience into the hands of policy makers, designers, and implementers. ADB’s Operations Evaluation Department (OED) conducts systematic and impartial assessment of policies, strategies, country programs, and projects, including their design, implementation, results, and associated business processes to determine their relevance, effectiveness, efficiency, and sustainability following prescribed methods and guidelines. |
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