What are the main Objectives and Functions of ADB?

ADVERTISEMENTS:

The main objectives of ADB, as laid down in its Charter, are “to foster economic growth and cooperation in the region of Asia and Far East, and to contribute to the acceleration of the process of economic development of the developing members in the region, collectively and individually.” The Bank aims at achieving this broad objective through the following functions:

(i) Mobilisation and promotion of investment of private and public capital for productive purposes.

(ii) Utilisation of its resources for financing those development projects which contribute most to the harmonious economic growth of the region as a whole, with special emphasis on the needs of the smaller or less developed members.

ADVERTISEMENTS:

(iii) Coordination of plans and policies of the member countries with a view to achieving better utilisation of their resources, making them economically more complementary, and expanding their foreign trade.

(iv) Provision of technical assistance to the member countries for the preparation, financing and execution of development projects.

(v) Cooperation with the United Nations and its various organs and other international organisations with the objective of persuading them to make investments in this region.

(vi) Undertaking of such other activities which may help to achieve its main objectives.

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