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Armenia Joins Asian Development Bank

27 September 2005 (RFE/RL) -- Armenia has become the 64th member of the Asian Development Bank, or ADB.

The bank, based in the Philippine capital Manila, said in a statement today Armenia's membership went into effect on 20 September upon completion of application formalities.

The south Caucasus country has subscribed to 10,557 shares of ADB's capital shares.

The ADB, which was established in 1966, has focused its work on reducing poverty in the Asia and Pacific regions.

Other ADB members include Azerbaijan, Afghanistan, and all five Central Asian countries.