BANKING AFFAIRS

Detailed explanation-1: -The headquarters of the bank is at 6 ADB Avenue, Mandaluyong, Metro Manila, Philippines, and it has 42 field offices in Asia and the Pacific and representative offices in Washington, Frankfurt, Tokyo and Sydney. The bank employs about 3, 000 people, representing 60 of its 68 members.

Detailed explanation-2: -Detailed Solution. The headquarters of Asian Development Bank situated at Manila. The Asian Development Bank (ADB), founded on 19 December 1966, is a regional development bank. The organization also has 31 field offices worldwide to support social and economic growth in Asia.

Detailed explanation-3: -Pages. Masatsugu Asakawa is the President of the Asian Development Bank (ADB) and the Chairperson of ADB’s Board of Directors. He was elected President by ADB’s Board of Governors and assumed office on 17 January 2020. In August 2021, he was reelected for a 5-year term starting on 24 November 2021.

Detailed explanation-4: -1972–1990 ADB’s first headquarters was located at 2330 Roxas Boulevard, Pasay City, Philippines. 8 April 1986, Mandaluyong City, Philippines Philippine President Corazon Aquino lays the foundation stone of the new ADB headquarters.

Detailed explanation-5: -ADB supports the Philippines’ recovery from the COVID-19 pandemic through its country partnership strategy 2018–2023-focusing on infrastructure investment, local economic development, and social investments.