The Asian Development Bank (CRS Report for Congress)
| Release Date |
Revised March 14, 2005 |
| Report Number |
RS21437 |
| Report Type |
Report |
| Authors |
Martin A. Weiss, Foreign Affairs, Defense, and Trade Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The Asian Development Bank (ADB) is a multilateral development financeinstitution based in Manila, Philippines. Founded in 1966, the ADB has 63 members.The ADB makes both market rate and concessional loans, mostly to its 40 so-calleddeveloping member countries (DMCs). In the late 1990s, the Bank proclaimed povertyreduction as the key focus of the ADB, reflecting a significant shift in ADB lendingfrom an early preference towards economic infrastructure projects.The United States is a founding member of the ADB and Congress periodicallyauthorizes and appropriates funds for both the ADB and Asian Development Fund(ADF) through the annual Foreign Operations appropriations bill. The BushAdministration has requested $115,250,000 in the FY2006 budget request to cover theinitial scheduled commitment to the three-year eighth replenishment of the AsianDevelopment Fund (ADF-9).
