Membership:

The membership of the ADB is open to

(i) Members of ESCAP;

(ii) Associate members of ESCAP; and

ADVERTISEMENTS:

(iii) Other countries in the ESCAP region which are members of the United Nations or any of its specialised agencies.

Organisation:

The Bank has a board of Governors, a Board of Directors, a President, a Vice President, and the other staff. The Board of Governors is the highest policy-making body of the bank.

Each member country nominates a Governor and an alternate Governor who attends the meetings of the Board in the absence of the Governor. All the powers of the Bank are vested in the Board of Governors which may delegate some of these powers to the Board of Directors.

ADVERTISEMENTS:

The Board of Governors elects a Board of Directors. Originally the Board of Directors had ten members; 7 from regional countries and 3 from non- regional countries. Subsequently, the number has been increased to 12. The Board of Governors is responsible for the general conduct of the day-to-day business of the Bank.

The President of the Bank, who is elected by the Board of Directors, is the chairman of the Board of Directors. He is elected for a period of five years. President is assisted by the Vice President in the management of the Bank.

Financial Resources:

Initially, the ADB started with an authorised capital of $1000 million, of which $965 million were subscribed for. The authorised capital can be increased by the Board of Governors if two-third of the members votes for this increase.

ADVERTISEMENTS:

One half of the subscribed capital is to be paid up and the balance 50% is callable capital. Of the paid up capital, 50% has to be in gold and convertible currencies. The Bank has two types of resources:

(i) Ordinary Capital Resources. These consist of subscribed capital, borrowed funds, funds received by repayment of loans, income derived from loans and guarantees.

(ii) Special Fund Resources. These consist of contributions from time to time by members under special agreement, income from special fund loans and investments, contributions from ordinary resources as approved by Governors of ADB, etc.