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Armenia Joins Asian Development Bank

(AFP) – Armenia has become the 64th member of the Asian Development Bank, the Manila-based bank said Tuesday.

Armenia’s membership became effective on September 20 upon completion of all formalities, the ADB said in a statement.

Armenia has subscribed to 10,557 shares of the bank’s capital stock. ADB’s authorized capital stock is 3,509,728 shares equivalent to $51.6 billion.

Established in 1966, the ADB last year approved loans and technical assistance totaling $5.3 billion and $196.6 million respectively.

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