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Home , Asian Development Bank

ASIAN DEVELOPMENT BANK MEMBER FACT SHEET

UNITED STATES: Shareholding and Voting Power Number of shares held: 1,656,630 (15.571% of total shares)

Established in 1966, ADB has committed Votes: 1,695,744 (12.751% of total membership, $296.28 billion in loans to the vision of 36.561% of total nonregional membership) an Asia and Pacific region free of . Overall capital subscription: $22.91 billion

The is a founding Paid-in capital subscription: member of ADB. $1.15 billion

Contributions to Special UNITED STATES Funds Resources The United States has contributed to the The Asian Development Bank (ADB) projects at $844.07 million (31 projects). Asian Development Fund (ADF), which is dedicated to achieving a prosperous, In addition, $11.86 billion was generated was ADB’s window for concessional inclusive, resilient, and sustainable Asia in commitments from sovereign and lending to its borrowing members up to and the Pacific, while sustaining its nonsovereign cofinancing. 31 December 2016 and continued as a efforts to eradicate extreme poverty. grant-only operation from 1 January 2017; From 1 January 2015 to 31 December and the Technical Assistance Special Fund Established in 1966, it is owned by 68 2019, ADB’s annual lending volume (TASF), which provides grants to borrowing members—49 from the region—who averaged $17.41 billion. In addition, members to help prepare projects and have committed $296.28 billion in loans investment grants and technical undertake technical or policy studies. to the vision of a region free of poverty. assistance funded by ADB and Special Contributions: Despite the region’s successes, issues Funds resources averaged $702.60 million ADF (committed): $4.68 billion that remain to be addressed include and $202.27 million respectively over TASF (committed): $166.62 million poverty and inequality, , the same period. growing environmental pressures, and As of 31 December 2019, the cumulative large infrastructure deficits. totals excluding cofinancing were The United States has contributed $296.28 billion in loans for 3,221 projects $22.91 billion in capital subscription as of in 44 countries, $10.23 billion in 409 31 December 2019. It has contributed and grants, and $4.72 billion in technical committed $4.85 billion to Special Funds assistance grants, including regional since joining in 1966. technical assistance grants. Companies and consultants from the In addition to loans, grants, and technical United States have since been awarded assistance, ADB uses guarantees and $3.54 billion in procurement contracts equity investments to help its developing on ADB-financed projects. member countries (DMCs). In 2019, lending volume was With headquarters in , ADB has $20.47 billion (133 projects), with 44 offices around the with 3,555 technical assistance at $237.31 million staff from 64 of its 68 members as of (252 projects) and grant-financed 31 December 2019.

Updated in August 2020 FINANCING PARTNERSHIPS Projects umbrella initiatives, called financing • Sovereign: 7 projects, cofinancing of partnership facilities, which support ADB arranges cofinancing from bilateral $14.29 million priority areas in ADB’s long-term strategic and multilateral sources, export credit o Grants: 1 project, cofinancing of framework, Strategy 2030, such as water, agencies, and commercial sources in the $10.00 million clean energy, regional cooperation and form of loans and grants, B loans, risk o Technical assistance: 6 projects, integration, urban sector financing, transfer arrangements, parallel loans and cofinancing of $4.29 million and health. equity, guarantees, and cofinancing for transactions under ADB’s Trade Finance • Nonsovereign: 16 projects, The United States has contributed to the Program. Cofinancing brings additional cofinancing of $1.65 billion following trust funds: resources to ADB’s project financing. In Multi-Donor Trust Funds 2019, total sovereign and nonsovereign A list of projects cofinanced with the • Cooperation Fund for Regional Trade cofinancing commitments amounted to United States is available at www.adb.org/ and Financial Security Initiative— $11.86 billion for 185 projects, of which site/cofinancing/north-america. established in 2004 to assist DMCs $11.64 billion was for 64 investment in establishing effective regimes for projects and $226.48 million was Trust Funds regional anti-money laundering and for 121 technical assistance projects. combating the financing of terrorism Cumulative sovereign and nonsovereign Trust funds are key instruments to mobilize capacity-building activities cofinancing commitments for the and channel external sources to finance period 1970–2019 amounted to technical assistance and components »» Cumulative commitment: $109.46 billion for 2,842 projects, of of investment projects. They play an $0.8 million which $106.99 billion was for 964 important role in complementing ADB’s • Infrastructure Trust investment projects and $2.47 billion own funding resources. Initially, trust funds Fund—established in 2010 to was for 1,878 technical assistance were established through single-donor deliver financing for infrastructure projects. channel financing agreements targeting a development in Afghanistan and number of specific sectors. ADB has been to leverage resources through Cofinancing commitments with the increasingly switching to multi-donor trust cofinancing with private sector and United States from 1 January 2015 funds covering thematic issues. A more other development partners to 31 December 2019 comprised the recent development is the establishment »» Cumulative commitment: following: of trust funds under theme-focused $153.7 million

Investment Projects Cofinanced with the United States, 1 January 2015–31 December 2019

ADB Amounta Cofinancing Amount Country Project ($ million) ($ million) Type of Cofinancingb Senior Loans - AccessBank Azerbaijan and Finca 75.00 8.93 NS Azerbaijan Improving Financial Service Outreach for Agriculture Shah Deniz Gas Field Expansion 500.00 105.20 NS , People’s Republic of Health Care Finance in Underdeveloped Provinces 150.00 6.18 NS Green Energy Corridor and Grid Strengthening Project 500.00 68.63 NS Microfinance Risk Participation and Guarantee Program 340.00 52.12 NS Senior Loan to IndusInd Bank to Promote Access 200.00 23.75 NS to Finance for Women in Less Developed States Railways Track Electrification 750.00 90.07 NS Strengthening Rural Financial Inclusion and Farmer 200.00 21.94 NS Access to Markets – Axis Bank Strengthening Rural Financial Inclusion and Farmer 200.00 9.44 NS Access to Markets – Myingyan Natural Gas Power Plant 103.10 21.55 NS Nationwide Data Connectivity 150.00 5.00 NS Earthquake Emergency Assistancec – 10.00 G Viet Nam Mainstreaming Small and Medium-Sized Enterprises 200.00 10.19 NS Lending Regional ASEAN Distributed Power Project (Phase 2) 235.00 34.50 NS Equity investment in Creador IV, L.P. 50.00 5.00 NS Equity Investment Olympus Capital Asia V, L.P. Fund 40.00 150.00 NS Trade Finance Programd 4,836.97 1,040.58 NS – = nil, ASEAN = Association of Southeast Asian Nations. a Loan, grant, or blend. b G = sovereign grant cofinancing, NS = nonsovereign cofinancing. c Anchor project was approved in prior year(s) with cofinancing committed between 2015 and 2019. d The $1 billion limit for ADB’s Regional Trade Finance Program (TFP), approved by the Board of Directors in 2009, is the maximum exposure the TFP can assume at any one point in time. This limit has never been breached. Although the TFP exposure exceeded $1 billion annually from 2015 to 2019, the TFP limit was not breached at any one point in time because TFP transactions tend to be short—on average less than 180 days—and the TFP limit can revolve (be reused) within a year. In addition, the TFP distributes risk exposures to various partners that leverage its capital resources. United States’ Share of Procurement Contracts for Loan, Grant, and Technical Assistance Projects, by Origin 2018 2019 Cumulative (as of 31 Dec 2019) Amount Amount Amount Item ($ million) % of Total ($ million) % of Total ($ million) % of Total Goods, Works, and Related Services 243.44 1.97 507.57 3.56 8,383.48 4.32 Consulting Services 29.46 4.17 37.81 5.08 1,364.01 10.18 Total Procurement 272.90 2.08 545.38 3.63 9,747.48 4.69

• Urban Climate Change Resilience Citibank and ADB are partners in ADB’s Sachs Group, Inc. for an energy project Trust Fund—established in regional microfinance program. The in India; Gray Ghost Microfinance Fund 2013 under the Urban Financing Overseas Private Investment Corporation LLC for a school financial company in Partnership Facility to establish cofinanced with ADB a regional private India; Sequoia Capital China Funds for and strengthen knowledge and equity fund and a bank in India. Other an agriculture project in the People’s learning from selected cities, set examples of United States entities Republic of China; and the Bank of New up peer learning networks through involved in various transactions financed York Mellon for women’s finance project which cities share experiences and by ADB are Orbimed Healthcare in India. lessons globally, and monitoring and Investments Trust for a regional private evaluation framework and systems for equity fund focused on health care; the program General Electric for power projects in procurement »» Cumulative commitment: and ; Export–Import Each year, ADB provides loans, grants, $0.1 million Bank of the United States for solar power and technical assistance to fund projects in India; Ormat International projects and activities in its DMCs; and nonsovereign operations and Halliburton for an energy project in several billion dollars in contracts to Indonesia; AIG, Ace American Insurance, procure goods, works, and consulting As a catalyst for private investments, and Liberty Mutual Insurance for banks services. Most contracts are awarded on ADB provides financial assistance to in Azerbaijan and India, and energy the basis of international competition, nonsovereign projects and financial projects in India and ASEAN countries; which is open to firms and individuals intermediaries. Total commitments from J.P. Morgan Asset Management for from any ADB member, regional or ADB’s own funds (in equity and direct a bank in ; JP Morgan Chase nonregional. loans) in 2019 amounted to $3.00 billion & Co. for a financial institution in the for 38 transactions in economic and People’s Republic of China; California Share of ADB’s Procurement social infrastructure, the finance sector, Public Employees Retirement System Contracts and agribusiness. ADB also actively for a regional private equity fund; Aspen Goods, Works, and Related Services mobilizes cofinancing from commercial Insurance for finance project in Viet Nam ADB’s procurement contracts in Asia and concessional sources. In 2019, ADB and railway track electrification project and the Pacific for goods, works, and mobilized $3.28 billion of long-term in India; 77 Construction USA Corp for related services under loan and grant cofinancing and $3.69 billion of cofinancing a solar project in Afghanistan; Caterpillar operations totaled $12.38 billion through its trade finance, microfinance, Inc. and Madrone Partners LP for a in 2018 and $14.27 billion in 2019. and supply chain finance programs. Total regional energy storage project; FINCA Cumulative procurement since 1966 outstanding balances and commitments International LLC for a financial inclusion has been $194.28 billion covering of nonsovereign transactions funded by project in ; GIP III Funds for an 241,600 contracts. ADB’s own resources stood at $13.78 energy project in Indonesia; Goldman billion as of 31 December 2019.

Top 5 Contractors/Suppliers from the United States Top 5 Consultants from the United States Involved Involved in Goods, Works, and Related Services in Consulting Services Contracts under ADB Loan, Contracts under ADB Loan and Grant Projects, Grant, and Technical Assistance Projects, 1 January 2015–31 December 2019 1 January 2015–31 December 2019 Contract Contract Amount Amount Contractor/Supplier Sector ($ million) Consultant Sector ($ million) Progress Rail Locomotive Inc TRA 135.34 Sheladia Associates Inc. ANR, ENE, 28.03 SubCom LLC ICT 12.87 TRA GTI Corp. ICT 6.67 HJI Group Corp. ANR, ENE, 19.89 Pernix Group and Map Projects Ltd. (JV) ENE 6.37 FIN, TRA, WUS NS Corp. (USA) TRA 3.97 Tera International Group Inc. TRA 7.64 Others 256.17 Tetra Tech ES Inc. ENE, MUL 6.51 Total 421.39 Logit Consulting Inc. TRA 6.00 ENE = energy, ICT = information and communication technology, TRA = transport. Individual Consultants 57.75 Others 46.24 Total 172.06 ANR = agriculture, natural resources, and rural development; ENE = energy; FIN = finance; MUL = multisector; TRA = transport; WUS = water and other urban infrastructure and services. In the United States, 8,199 contracts services under loan, grant, and In the United States, 5,231 contracts worth $8.38 billion have been awarded to technical assistance operations worth $1.36 billion have been awarded contractors and suppliers since 1966. totaled $706.15 million in 2018 and to consultants since 1966. $745.02 million in 2019. Cumulative Consulting Services procurement since 1966 has been ADB’s procurement contracts in $13.4 billion covering 64,032 contracts. Asia and the Pacific for consulting

ADB Governor Steven T. Mnuchin, Secretary, U.S. Department of the Treasury, is the Governor for the United States in ADB.

ADB Alternate Governor Keith Krach, Under Secretary for , Energy, and the Environment; U.S. Department of State, is the Alternate Governor for the United States in ADB.

ADB Director and Alternate Director Jason M. Chung serves as the Director with the rank of Ambassador representing the United States (US) on the ADB Board of Directors. Ambassador Chung was nominated by the US President on 21 November 2019 and confirmed by the US Senate on 6 August 2020. Prior to his appointment, he served as the US Alternate Director to ADB. From January 2017 to July 2018, he served at the US Department of the Treasury as Deputy Assistant Secretary for Public Affairs and as an International Affairs Advisor where he worked on issues related to international economics, development finance, trade and the bilateral relationship between the US Treasury and the ministries of finance, central banks, regulators and aid agencies of other nations. Ambassador Chung’s prior government service includes working in the federal and state governments and in the US House of Representatives. He is a graduate of Trinity College in Connecticut and married with two young children. Members of Senior Advisory Councils Robert M. Orr, former Director to ADB, is a member of the ADB Institute The Alternate Director position is vacant. Advisory Council.

ADB Director’s Advisors Anne Trebilcock, Chair of the Grievance Committee of the European Bank for Reconstruction and Development and former Legal Adviser and Director Jacob Henderson joined as Director’s Advisor in August 2019. Jacob served of Legal Services of the International Labour Organization, is a member as an International Economist at the US Department of the Treasury for 5 of the ADB Administrative Tribunal. years. Most recently, he was with the US Treasury’s Office of International Financial Markets covering financial regulatory issues, international insurance, and ’s financial sector. Prior to this role, Jacob served in ADB Staff Members the US Treasury’s Office of East Asia as macroeconomist for Japan. He As of 31 August 2020, there was one member of Management and previously lived in Asia for a decade and speaks advanced Mandarin. Jacob 144 international staff members (86 men and 58 women) from United States holds a BA in French from the College of Charleston and an MPIA from the in ADB, which represents 11.04% of total management and international University of California San Diego’s School of Global Policy and Strategy. staff, including 31 senior staff members.Ahmed M. Saeed, the Vice President (Operations 2) is the most senior American in ADB. Other senior Colin Huerter joined as Director’s Advisor in September 2019. Prior to international staff members includeWarren Evans, Special Project ADB, he served as an International Economist at the US Department of the Facilitator; James Patrick Lynch, Director General (East Asia Department); Treasury where he managed the formulation and implementation of US Thomas Clark, General Counsel; and Chai Sun Kim, the Controller. policies pertaining to ADB, the Asian Development Fund, and the North American Development Bank; and coordinated engagement between CONTACTS those institutions and other US government agencies. Since joining the US Treasury in 2014, he has also completed detailed assignments in the United North American Representative Office States Agency for International Development’s Office of Economic Policy ADB’s North American Representative Office, which covers and the and the economic section of United States Embassy in Accra. He served as United States, is located at 900 17th Street NW, Suite 900, Washington, DC a Peace Corps volunteer in Morocco from 2008 to 2010. Colin holds a BA in 20006, United States. Political Science from the University of Colorado Boulder and an MPP from Tel +1 202 728 1500 Georgetown University’s McCourt School of Public Policy. Fax +1 202 331 9550 [email protected] Contact Information for the UNITED STATES www.adb.org/NARO Director’s Office at ADB Bart Édes is the Representative. Tel +63 2 8632 6050 Fax +63 2 8632 4003 ADB Headquarters 6 ADB Avenue, Mandaluyong City 1550 , Commercial Liaison to ADB Tel +63 2 8632 4444 Mark OGrady is the Senior Commercial Liaison Officer and Director of Fax +63 2 8636 2444 the U.S. Commercial Service Liaison Office for ADB. This office provides www.adb.org counseling and assists United States firms in pursuing business opportunities that result from ADB activities. Tel +63 2 8516 5093/5301 2515 [email protected] http://export.gov/adb

Notes: ADB welcomed as its 68th member in March 2019. ADB recognizes “China” as the People’s Republic of China. Figures are estimated by ADB, unless otherwise stated. “$” refers to United States dollars. Data are updated as of 31 December 2019, unless otherwise indicated.