Asian Development Bank

Asian Development Bank, also known as ADB, is an international organization aimed at supporting economic development and poverty reduction in Asia and the Pacific region. It provides loans, technical assistance, grants, and equity investments to its developing member countries. ADB is registered in the System for Award Management (SAM) to receive federal awards from the U.S. government.

Through prime federal grant awards, ADB has provided support for various initiatives related to economic cooperation, regional trade, and development of small and medium enterprises (SMEs) in Asia. In one project funded by the Department of State, ADB received $2.2 million to enhance the competitiveness and integration of SMEs in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region. This involved designing and implementing programs to develop SME capabilities, promote connectivity in priority sectors, and foster public-private partnerships. Additionally, ADB received a $2 million grant from the Bureau of East Asian and Pacific Affairs for technical assistance related to the Pacific Regional Infrastructure Facility Coordination Office (PRIFCO). Another grant from the Millennium Challenge Corporation, worth $525,000, supported a cooperative agreement aimed at economic development efforts, although specific details were redacted.