Organization
The highest policy-making body of the bank is the Board of Governors composed of one representative from each member state. The Board of Governors, in turn, elect among themselves the 12 members of the Board of Directors and their deputy. Eight of the 12 members come from regional (Asia-Pacific) members while the others come from non-regional members.
The Board of Governors also elect the bank's President who is the chairperson of the Board of Directors and manages ADB. The president has a term of office lasting five years, and may be reelected. Traditionally, and because Japan is one of the largest shareholders of the bank, the President has always been Japanese. The current President is Haruhiko Kuroda, who succeeded Tadao Chino in 2005.
The headquarters of the bank is at 6 ADB Avenue, Mandaluyong City, Metro Manila, Philippines, and it has representative offices around the world. The bank employs approximately 3,000 people, coming from 55 of its 67 member countries, and with more than half of the staff being Filipino.
Read more about this topic: Asian Development Bank
Famous quotes containing the word organization:
“The village had institutionalized all human functions in forms of low intensity.... Participation was high and organization was low. This is the formula for stability.”
—Marshall McLuhan (1911–1980)
“... every woman’s organization recognizes that reformers are far more common than feminists, that the passion to look after your fellow man, and especially woman, to do good to her in your way is far more common than the desire to put into every one’s hand the power to look after themselves.”
—Crystal Eastman (1881–1928)
“In any great organization it is far, far safer to be wrong with the majority than to be right alone.”
—John Kenneth Galbraith (b. 1908)