Founded in 1966, the Asian Development Bank has a mandate to reduce the poverty of its developing member countries (DMCs) and improve the quality of life of their people. It currently has 67 members. Those eligible for assistance must be DMCs and be located in the region under ADB's purview, which includes areas of the Pacific as well as Asia. In 2009, the bank disbursed $13.2 billion in loans, $1.1 billion in grants and $267.2 million in technical assistance.
The development bank has been active for some time in securitization and activities that often serve as precursors to ABS (see side bar on p.28), but in the more recent past it has garnered the most attention by being attached to a couple of Kazakh transactions backed by diversified payment rights (DPRs), both of which were severely disrupted by trouble at the originating banks and powerful financial headwinds.