Capital Structure | Asian Development Bank

Capital Structure

With a powerful balance sheet, backed by its 67 members, ADB's capital structure provides the greatest levels of security for fixed income investors.

Subscribed shareholder capital consists of paid-in capital and callable capital.

Paid-in capital constitutes the equity portion of capital available for ADB's OCR lending operations. This is supplemented by retained earnings and leveraged by the proceeds of ADB's borrowings.

Callable capital is available to protect ADB's creditors—mainly investors in ADB bonds and holders of ADB guarantees—in the unlikely event of a large-scale default by ADB's borrowers. ADB has never made a call on callable capital.

ADB’s shareholders consist of 48 developing and developed countries in the Asia and Pacific region, and 19 countries from outside the region.  Each shareholder is represented on the Board of Governors, in which all of ADB’s powers are vested.  As of 31 December 2016, ADB’s five largest shareholders are Japan (with 15.6% of total shares), the United States (15.6%), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%). 

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