ARMENIA BECOMES ADB MEMBER
Armenpress
Sept 27, 2005
MANILA, SEPTEMBER 27, ARMENPRESS: Armenia has become the 64th member
of Asian Development Bank (ADB). Armenia’s membership became effective
on 20 September 2005 upon completion of all formalities.
Armenia has subscribed to 10,557 shares of the capital stock. ADB’s
authorized capital stock is 3,509,728 shares equivalent to US$51.6
billion.
The Asian Development Bank is dedicated to reducing poverty in the
Asia and Pacific regions through pro-poor sustainable economic growth,
social development, and good governance. Established in 1966, it is
owned by 64 members, with 46 from the region. In 2004, it approved
loans and technical assistance totaling $5.3 billion and $196.6
million, respectively.