Points to Remember:
- Asian Development Bank (ADB) said its President Takehiko Nakao has announced his resignation which will be effective from January 16 next year.
- He became the President of ADB on April 28, 2013.
- The new president will be elected in accordance with an open, transparent and merit-based procedure, ADB said in a statement.
About Asian Development Bank:
- Motto: Fighting Poverty in Asia and the Pacific
- Formation: 19 December 1966
- Type: Multilateral Development Bank
- Purpose: Social and Economic Development
- Headquarters: Ortigas Center Mandaluyong, Metro Manila, Philippines
- Region served: Asia-Pacific
- Membership: 68 countries
- President: Takehiko Nakao
Important Possible questions based on above News:
- Name the president of Asian Development Bank, who has announced his resignation recently? Takehiko Nakao
- Where is the headquarters of Asian Development Bank located? Philippines