Why in News? 

The Asian Development Bank (ADB) has pledged $10 billion to support the expansion of urban infrastructure and metro rail projects across India. This funding aims to boost India's urban development and improve public transportation.  

About Asian Development Bank (ADB) 

• The Asian Development Bank (ADB) is a multilateral development institution founded on December 19, 1966.  
• It serves as the primary international financial institution dedicated to fostering development in the Asia-Pacific region.  
• ADB’s vision focuses on creating a prosperous, inclusive, resilient, and sustainable Asia and Pacific while continuing its commitment to eliminating extreme poverty.  
• The bank’s headquarters are located in Manila, Philippines. Among its developing member countries, India receives the largest share of financial assistance, accounting for 14% of ADB’s total commitments, followed by China, Bangladesh, the Philippines, and Pakistan. 
• Headquarters: Manila, Philippines.