Israel Joins Asian Development Bank as a Non-Regional Member
| Aspect | Details |
|---|---|
| Event | Israel joins the Asian Development Bank (ADB) as a non-regional member. |
| Date of Announcement | Friday, [exact date not specified]. |
| Membership Status | 69th member overall and 20th non-regional member. |
| Approval Process | ADB's Board of Governors approved Israel's membership in April 2022. |
| Application Date | Israel submitted its application in January 2022. |
| Representation | Israeli Finance Minister Bezalel Smotrich will represent Israel in the ADB. |
| ADB Establishment | Founded in 1966. |
| Total Members | 69 countries (49 regional, 20 non-regional). |
| Key Contributors | Japan and the United States, each contributing over $22.23 billion. |
| Strategic Focus | ADB promotes social and economic development in Asia and the Pacific. |
| Economic Implications | Israel aims to expand its strategic and economic influence in Asia. |
| Potential Challenges | Concerns about polarisation due to Middle East tensions, particularly |
| from Muslim-majority nations. | |
| Alternative Institutions | Some countries may consider the China-led Asian Infrastructure Investment |
| Bank (AIIB) as an alternative. | |
| Future Prospects | Israel's participation may lead to collaborations in technology, agriculture, |
| and infrastructure development. |