India on Asian Development Bank
A commemorative postage stamp on the 23rd Annual General Meeting of Asian Development Bank (ADB) :
Issued on May 2, 1990
Issued for : The 23rd Annual General Meeting of the Asian Development Bank was held in New Delhi from May 2 to 4, 1990. This was the first such meeting taking place in India. The special stamp issued to commemorate that event.
Description of Designs : The stamp depicts a shell heralding the commencement of this event, in the cultural tradition of India. The FDC depicts Red Fort, New Delhi, symbolic of the venue of the meeting. The designs have been furnished by the Ministry of Finance, Deptt. of Economic Affairs, based on art work done by Sh. Nitin Seth. Cancellation design is by Alka Sharma.
Type : Stamp, Postal Used
Colour : Multicolour
Denomination : 200 Paise
Overall size : 4.80 X 3.60 cms.
Printing size : 4.35 X 3.15 cms.
Perforation : 13 x 13
Paper : Imported un W/M Adhesive Gravure Coated stamp paper
Number Printed : 15,00,000
Number per issue sheet :20
Printing Process : Photogravure
Printed : India Security Press
- The Asian Development Bank was established in December 1966, bringing together 47 nations – 32 from the Asia-Pacific region and 15 from Europe and North America. It is an international partnership for providing development finance and technical assistance to the member countries with the objectives of making loans and equity investments for the economic and social advancement of the developing member countries; providing technical assistance for preparation and execution of development projects and programmes and advisory services; promoting investment of public and private capital for development purposes and responding to request for assistance in co-ordinating development policies and plans of member countries. The Bank’s main role is to promote the economic and social progress of its developing member countries by lending funds and providing technical assistance.
- The Bank’s highest policy making body is its Board of Governors which meets annually. Its Headquarters are located in Manila, Philippines. India is one of the beneficiary member nations. In its lending programme for India so far, the Asian Development Bank has been mainly concentrating on development finance institutions; power generation sector; development of national and state highways, ports, and high-freight railway routes; and telecommunications.
- Text : Courtesy Ministry of Finance, Deptt. of Economic Affairs.