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ASIAN DEVELOPMENT BANK;
In addition to the World Bank family, there are three other international lending agencies operating only in specific geographical area, but run on lines similar to the World Bank. These are: (i) The Inter-American Development Bank, founded in 1959, (ii) The Asian Development Bank, founded in 1964, and (iii) The African Development Bank, founded in 1966. Each borrows on world capital markets and lends mostly on near-commercial terms. ADB is a development bank under the aegis of ESCAP (Economic and Social Commission for Asia and Pacific). Its membership consists of countries from Asian region as well as from other regions.
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