[7] The ADB-Japan Scholarship Program (ADB-JSP) enrolls about 300 students annually in academic institutions located in 10 countries within the Region.

The group met regularly in 1963, examining various scenarios for setting up a new institution and drew on Watanabe's experiences with the World Bank.

In parallel, the concept was formally proposed at a trade conference organized by the Economic Commission for Asia and the Far East (ECAFE) in 1963 by a young Thai economist, Paul Sithi-Amnuai.

However, eight other cities had also expressed an interest: Bangkok, Colombo, Kabul, Kuala Lumpur, Manila, Phnom Penh, Singapore, and Tehran.

In the absence of any other candidates, Watanabe was elected first President of the Asian Development Bank at its Inaugural Meeting on 24 November 1966.

The gradual emergence of Asian economies in the latter part of the decade spurred demand for better infrastructure to support economic growth.

[19] Following considerable pressure from the Reagan Administration in the 1980s, ADB reluctantly began working with the private sector in an attempt to increase the impact of its development assistance to poor countries in Asia and the Pacific.

Fujioka Masao, the fourth president (1981–90), adopted an assertive leadership style, launching an ambitious plan to expand the ADB into a high-impact development agency.

On 31 May 1991, ADB moved its offices to Ortigas Center in Pasig City, with the Department of Foreign Affairs (Philippines) taking over its old Pasay premises.

The decade also saw an expansion of ADB's membership with the addition of several Central Asian countries following the end of the Cold War.

While the institution had such operations since the 1980s (under pressure from the Reagan Administration) the early attempts were highly unsuccessful with low lending volumes, considerable losses and financial scandals associated with an entity named AFIC.

Over the course of the next six years, the Private Sector Operations Department (PSOD) grew by a factor of 41 times the 2001 levels of new financings and earnings for the ADB.

That document formally stated that assistance to private sector development was the lead priority of the ADB and that it should constitute 50% of the bank's lending by 2020.

ADB also responded to a multitude of natural disasters in the region, committing more than $850 million for recovery in areas of India, Indonesia, Maldives, and Sri Lanka which were impacted by the 2004 Indian Ocean earthquake and tsunami.

[19] In 2017, ADB combined the lending operations of its Asian Development Fund (ADF) with its ordinary capital resources (OCR).

The result was to expand the OCR balance sheet to permit increasing annual lending and grants to $20 billion by 2020 – 50% more than the previous level.

[19] In 2020, ADB gave a $2 million grant from the Asia Pacific Disaster Response Fund, to support the Armenian government in the fight against the spread of COVID-19 pandemic.

This is carried out through investments – in the form of loans, grants and information sharing – in infrastructure, health care services, financial and public administration systems, helping countries prepare for the impact of climate change or better manage their natural resources, as well as other areas.

Based on a new policy, both types of loans will be sourced starting January 2017 from the bank's ordinary capital resources (OCR), which functions as its general operational fund.

ADB's participation is usually limited but it leverages a large amount of funds from commercial sources to finance these projects by holding no more than 25% of any given transaction.

[42] The 2022 Annual Report details ADB's efforts in aiding its developing member countries to overcome the aftermath of the COVID-19 pandemic, tackle new challenges like the Russian invasion of Ukraine and a severe food crisis, while also addressing climate change with significant financial commitments, including $6.7 billion for climate initiatives and a $14 billion package for food security.

The ADB committed a total of $20.5 billion in various forms of assistance, including private sector financing, and fostered regional cooperation, with a focus on gender equality, education, healthcare, and unlocking additional resources through innovative financial mechanisms.

The report also notes organizational reforms for increased efficacy, the adoption of a hybrid work model following the full reopening of its headquarters.

[45] Since the ADB's early days, critics have charged that the two major donors, Japan and the United States, have had extensive influence over lending, policy and staffing decisions.

"Operating at a global and international level, these banks can undermine people's human rights through projects that have detrimental outcomes for poor and marginalized communities.

"[60] The bank also received criticism from the United Nations Environmental Program, stating in a report that "much of the growth has bypassed more than 70 percent of its rural population, many of whom are directly dependent on natural resources for livelihoods and incomes.

The following table are amounts for 20 largest countries by subscribed capital and voting power at the Asian Development Bank as of December 2021.