Asian Development Bank
The Asian Development Bank (ADB) is a regional development bank established in 1966 to promote economic and social development in Asian and Pacific countries through loans and technical assistance. It is a multilateral development financial institution owned by 67 members (as of 2 February 2007), 48 from the region and 19 from other parts of the globe. ADB's vision is a region free of poverty. Its mission is to help its developing member countries reduce poverty and improve the quality of life of their citizens.
The Asian Development Bank (ADB) reported on Monday that it has reached 17 percent higher financing operations in 2016. The development bank said it will continue to its commitment in achieving sustainable development for the Asian-Pacific region.
The Asian Development Bank's (ADB) GDP forecast for the Philippines was up by 6.8 percent for 2016 and 6.4 percent in 2017. This is the third time that ADB revised its forecast of GDP growth for the country.
Asian Development Bank (ADB) president Takehiko Nakao visited President Rodrigo Duterte on Wednesday to express his support for the new administration's 10-point economic agenda.
Economic growth in developing Asia may be pushed down to 5.7 percent in 2016 and 2017 due to the weak recovery in major industrial economies as well as softer growth prospects for China.