|
MANILA, PHILIPPINES (29 December 2003) - Palau has become the 63rd member of the Asian Development Bank (ADB).
Palau's membership became effective on 29 December 2003 upon completion of all formalities, including payment of its subscription to ADB's capital stock.
Palau has subscribed to 114 shares of the capital stock. ADB's authorized capital stock is 3,499,171 shares equivalent to US$51.3 billion.
ADB, a regional development bank, is headquartered in Manila. Its overarching goal is to reduce poverty by promoting economic and social progress in the Asian and Pacific region. ADB's strengths lie in its work on policy and institutional reforms, social development, environmental protection and regional cooperation.
More at adb.org/media