ADB Headquarters, Mandaluyong City
February 21, 2017
In celebration of the 50th anniversary of the Asian Development Bank (ADB), President Rodrigo Roa Duterte held a meet and greet with the ADB officials led by its President, Mr. Takehiko Nakao, at the Dignitaries Room of the ADB Headquarters in Mandaluyong City.
Mr. Nakao updated President Duterte on the efforts done by the ADB in reducing poverty and improving the quality of life of its developing member-countries. The bank is said to have extended a total of US$ 267 billion in monetary support since 1966 in developing infrastructure, education and environment, among others.
Following the meeting, the Chief Executive proceeded to the auditorium for the program proper. He was joined by ADB Philippines Executive Director Paul Dominguez, Department of Finance (DOF) Secretary Carlos Dominguez III, and other ADB officials.
Conceived in the early 1960s, the ADB is an international finance body created to promote sustainable economic growth in Asia and the Pacific, and reduce poverty by providing loans, equity, grants, guarantees, and investments to its developing member-countries. Its headquarters in Manila was opened on December 19, 1966 with 31 members and with Mr. Takeshi Watanabe serving as ADB’s first President.