Responding to Challenges of a Changing Region
ADB was conceived amid the postwar rehabilitation and reconstruction of the early 1960s. The vision was of a financial institution that would be Asian in character and foster economic growth and cooperation in the region - then one of the poorest in the world.
The Philippines capital of Manila was chosen to host the new institution - the Asian Development Bank - which opened its doors on 19 December 1966, with 31 members to serve a predominantly agricultural region.
Through the years, ADB's work and assistance levels has expanded alongside its membership as the region has undergone far-reaching changes.
As 2007 drew to a close, ADB celebrated 41 years of fruitful cooperation with the governments and peoples of the Asia and Pacific region. It could look back on phenomenal economic growth in the region alongside abiding development challenges.
Read the full history.
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