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Topic - 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. - Source: Wikipedia
The World Bank announced Wednesday it is prepared to resume assistance to Myanmar after 25 years, saying it is ready to provide $85 million in grants for development while also helping to clear almost $400 million in arrears from old loans.
Booming populations, rapid urbanization and competing demands for food and energy will drain Asia's dwindling freshwater supplies unless the region better manages its resources, experts said Tuesday.
Asia's economic boom could still be undercut if the region fails to address a growing income gap and the lack of strong financial and infrastructure links, a top official of the Asian Development Bank said yesterday.