how the asian development bank works
the asian development bank provides assistance to its developing member countries the private sector and public private partnerships through grants loans technical assistance and equity investments to promote development the adb regularly facilitates policy dialogues and provides advisory services they also use co financing operations that tap official commercial and export credit sources while providing assistance membership in the adb is open to members and associate members of the united nations economic commission for asia and the far east it s also open to other regional countries and non regional developed countries that are members of the u n or of any of its specialized agencies the adb is one of two asian regional development banks the other being the chinese led asian infrastructure investment bank aiib financing provided by the asian development bankthe adb provides both private financing and sovereign public financing private sector efforts focus on projects that help promote private investments in the region that will have significant development impact and will lead to accelerated sustainable and inclusive growth public sector financing provides funding for member countries with flexibility in determining how they can achieve development goals in 2021 the adb committed nearly us 13 5 billion to help its developing member countries address the impacts of the covid 19 crisis and address vaccination needs and has mobilized a further 12 9 billion in co financing from partners through a 9 billion asia pacific vaccine access facility or apvax announced in december 2020 the adb provided funding for vaccine procurement logistics and distribution 23the total private financing portfolio consisted of 14 2 billion at the end of 2021 in terms of sovereign financing adb s portfolio stood at 104 billion by the end of 2021 consisting of 713 loans 392 grants 915 ta projects one guarantee and 1 equity investment 4structure of the asian development bankaccording to adb s website the agreement establishing the asian development bank known as the adb charter vests all the powers of the institution in the board of governors which in turn delegates some of these powers to the board of directors the board of governors meets formally once a year during adb s annual meeting 5 the adb s highest policy making body is its board of governors which comprises one representative from each member the two largest shareholders of the asian development bank are the united states and japan although the majority of the bank s members are from the asia pacific region the industrialized nations are also well represented regional development banks usually work in harmony with both the international monetary fund imf and the world bank in their activities asian development bank country relationships