Israel Becomes 69th Member Country of the Asian Development Bank.

International

Israel has officially become the 69th member and 20th non-regional member of the Asian Development Bank (ADB) effective 27th September 2024, after meeting all membership requirements.


      - Israeli Finance Minister Bezalel Smotrich will represent Israel at the ADB.

      - To become an ADB member, a country must be part of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) or be a non-regional developed country.

     

Main Points:-   (i) Israel submitted its formal application for ADB membership in January 2022.

      (ii) The ADB Board of Governors approved Israel's membership on 14th April 2022 through Resolution no. 414: "Membership of Israel and Increase in Authorized Capital Stock."

(iii) By joining the ADB, Israel seeks to strengthen its influence in Asia and enhance strategic ties and trade relationships.
About Israel

President- Isaac Herzog
Capital- Jerusalem
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