The Asian Development Bank was establshed in December 1966, bringing togather 47 nations - 32 from the Asia-Pacificregion and North America. It is a international partnership for providing development finance and technical assistance to the member countries with the objectives of making loans and equity investments for the economic and social advancement of the developing member countries; providing technical assistance for preparation and execution of development projesct and programmes and advisory services; promoting investment of public and private capital for development purpose and responding to requests for assistance in co-ordinating development policies and plans of member countries.

The Bank's mainrole is to promote the economic and social progress of its developing member countries by lending funds and providing technial assistance. the Bank's highest policy making body is itsBoard of Governors which meets annually. Its Headquarters are located in Manila, Phillipines. India is one of the beneficiary member nation. In its lending programme for India so far, the Asian Development Bank has been mainly concentrating on development ofnational and state highways, ports, and highfreight railway routes; and telecommunications.

The 23rd Annual General Meeting of the Asian Development Bank is being held in New Delhi from May 2 to 4, 1990. This is the first such meeting taking lace in India. The special stamp issues to commemorate this event.

Source : Information Folder issued by Indian Posts & Telegraph Department, Government of India