Dr. Kshatrapati Shivaji (SIDBI Board Member) recently nominated director at the Asian Development Bank


Dr. Kshatrapati Shivaji (SIDBI Board Member) recently nominated director at the Asian Development Bank

Although sad to see him go, it is with pride that we announce Dr. Kshatrapati Shivaji, SIDBI representative on The Montreal Group Board of Directors, was recently nominated Director at the Asian Development Bank (ADB).
 
Dr. Shivaji, on behalf of the President, Mr. Pascal Lagarde, the Secretariat, and all of our members, we would like to congratulate you on your recent appointment at the Asian Development Bank. In your role as Chairman and Managing Director at the Small Industries Development Bank of India (SIDBI), The Montreal Group was hosted with great support at its 2016 Annual Meeting in Mumbai. It was a privilege to meet you and we trust our relationship will thrive as you undertake this new challenge. We wish you all the success in your new role

 


The Asian Development Bank (ADB) is a regional development bank established in 1966, which is headquartered in the Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members, of which 48 are from within Asia and the Pacific and 19 outside. The ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members' capital subscriptions. At the end of 2014, Japan holds the largest proportion of shares at 15.7%. The United States holds 15.6%, China 6.5%, India 6.4%, and Australia 5.8%.


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