On June, 2014 which minister of the Central Government has been appointed as India's Governor on the Board of Governors of the Asian Development Bank (ADB) ?

The correct answer is Arun Jaitley.

Key Points

• On June 2014, Arun Jaitley, the then Union Finance Minister of India, was appointed as India’s Governor on the Board of Governors of the Asian Development Bank (ADB).
• The Board of Governors is the highest decision-making body in the Asian Development Bank (ADB), and its members consist of representatives from all member countries.
• India has been a founding member of the Asian Development Bank since its establishment in 1966.
• Arun Jaitley held the position of Union Finance Minister from May 2014 to August 2019, during which he represented India in various international financial institutions.
• ADB primarily focuses on promoting sustainable economic growth and reducing poverty in Asia and the Pacific region through financial assistance and policy advice.

Additional Information

• Asian Development Bank (ADB):
  • ADB is a regional development bank established on 19 December 1966, headquartered in Manila, Philippines.
  • It provides loans, grants, and technical assistance to its member countries to foster economic growth and development.
  • ADB’s membership includes 68 countries, with 49 from the Asia-Pacific region.
  • Its primary focus areas include infrastructure development, poverty alleviation, gender equality, and climate change mitigation.
• Board of Governors:
  • The Board of Governors of ADB is composed of one Governor from each member country, typically represented by their Finance Minister or equivalent.
  • It meets annually to discuss and decide on ADB’s policies, programs, and financial matters.
  • The Governors delegate operational responsibilities to the Board of Directors, which oversees day-to-day operations.
• Arun Jaitley’s Contributions:
  • During his tenure as Finance Minister, Jaitley played a pivotal role in implementing major economic reforms, including the introduction of the Goods and Services Tax (GST).
  • He also advocated for India’s representation in global financial institutions and strengthened India’s international economic partnerships.
• India’s Role in ADB:
  • India has been one of ADB’s largest borrowers, receiving financial support for various infrastructure and development projects.
  • ADB has supported projects in India related to transport, energy, urban development, and agriculture.
  • India’s active participation in ADB reflects its commitment to regional development and cooperation.