Which one of the following launched the ‘Nature Solutions Finance Hub for Asia and the Pacific’?  

  • The Asian Development Bank (ADB)  
  • The Asian Infrastructure Investment Bank (AIIB)  
  • The New Development Bank (NDB)   
  • The International Bank for Reconstruction and Development (IBRD)  

Answer: (a) The Asian Development Bank (ADB)  

  • The organization that launched the “Nature Solutions Finance Hub for Asia and the Pacific” is the Asian Development Bank (ADB). 
  • The ADB unveiled this hub at COP28 with the goal of attracting significant investments in nature-based solutions projects across the Asia Pacific region.
  • It aims to mobilize funding for projects that incorporate nature-based solutions to address climate change and biodiversity loss. The hub aims to attract at least $2 billion in investments.
Asian Development Bank (ADB)
  • The Asian Development Bank (ADB), founded in 1966 and headquartered in Manila, Philippines, is a multilateral lender dedicated to reducing poverty in the Asia-Pacific through inclusive, sustainable growth.
  • It is owned by 69 members, with top shareholders being Japan, the USA, China, India, and Australia.
    • The ADB was modelled closely on the World Bank and has a similar weighted voting system where votes are distributed in proportion to members’ capital subscriptions.
    • ADB’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
  • Purpose: Promotes economic cooperation, technical assistance, and funding for infrastructure (transport, energy).
  • India’s Status: India is a founding member and the 4th largest shareholder.
  • Governance: Led by a Board of Governors (1 rep per member) and a Board of Directors. The President is traditionally Japanese.
  • Key Reports: Publishes Asian Development Outlook (ADO).
  • Recent Initiatives (India): $10 billion investment planned (2025-2030) for urban infrastructure (metro, sanitation, TOD).
  • Membership:
    • Membership in the ADB is open to members and associate members of the United Nations Economic Commission for Asia and the Far East.
    • It’s also open to other regional countries and non-regional developed countries that are members of the U.N. or of any of its specialized agencies. 
    • From 31 members at its establishment in 1966, ADB has grown to encompass 69 members, including 49 regional members from Asia and the Pacific, such as India, China, Japan, South Korea, Australia, and many others, and 20 non-regional members from Europe, North America, and other regions.