ASIAN DEVELOPMENT BANK -
INTERNATIONAL RELATIONS PRELIMS
News: Asian Development Outlook
April 2024 Launch
What's in the news?
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Growth in developing Asia will remain robust this
year, while inflation continues to moderate.
Key takeaways:
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Strong domestic demand and a gradual recovery in goods exports underpin the positive outlook.
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But risks remain from escalating conflict and
geopolitical tensions, US monetary policy uncertainty, further property market
weakness in the People’s Republic of China, and adverse weather events.
Asian Development Bank:
●
The Asian Development Bank (ADB) was founded in
1966 and is headquartered in Manila
(Philippines).
Members:
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It has 67
members from Asia and the Pacific.
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Japan owns 15.677% of ADB, followed by the United States
(15.567%), China (6.473%), and India (6.473%).
Aims of Asian
Development Bank:
●
The Asian Development Bank (ADB) describes itself
as a social development agency dedicated
to poverty reduction in Asia and the Pacific through inclusive economic
growth, ecologically sustainable growth, and regional integration.
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This is accomplished with an investment of 80% in the public sector.
●
This is accomplished through investments in
infrastructure, health care services, finance, and public administration
systems, as well as other sectors, such as assisting nations in preparing for
the effects of climate change or better managing their natural resources.
ADB’s Strategy 2030:
●
The Asian Development Bank's (ADB) Strategy 2030
charts a course for the bank to respond effectively to the region's evolving
demands.
●
The Asian Development Bank (ADB) will continue to
work to eradicate extreme poverty and
develop its vision for a prosperous, inclusive, resilient, and sustainable Asia
and the Pacific under Strategy 2030.
Significance:
●
The Asian Development Bank invests in
infrastructure, health, and public administration, assisting countries in
mitigating the effects of climate change and managing natural resources.
● The Asian Development Bank (ADB) publishes an annual report that details its operations, budget, and other documents for public consumption.