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News:India and Asian Development Bank(ADB) have signed 190 million dollar loan agreement for improving road connectivity in Rajasthan.

Facts:

About Asian Development Bank(ADB):

The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966.
ADB is headquartered in Manila, Philippines.It aims to promote social and economic development in Asia.
It assists its members and partners by providing loans, technical assistance, grants and equity investments to promote social and economic development.
ADB has 68 members, of which 48 are from within Asia and the Pacific and 19 outside.
Japan and US holds the largest proportion of shares in ADB followed by China, India and Australia. ADB is also an official United Nations Observer.

India and ADB:

India was a founding member of ADB in 1966 and is now the bank’s fourth-largest shareholder and top borrower.
ADB commenced operations in India in 1986 and has since committed 229 sovereign loans totaling $38.9 billion.
In 2018, ADB committed a record $3.03 billion for 19 sovereign projects to help India develop infrastructure and services in transport, energy among others.