Asia rebounding?

Earlier this week, as reported in the New York Times, the Manila-based Asian Development Bank published a detailed report raising its growth forecasts for developing Asian countries.

The report contains an informative five-page assessment of economic prospects for the Philippines.

Its headquarters, where most of its 2,500 employees are based, is pictured above. Maybe we'll get a chance to visit it on the trip.

According to information on its Web site, the ADB was founded in 1966 to fight poverty in Asia. It is financed by contributions from 67 member countries, two-thirds of which are located in Asia. Its biggest regional member is Japan, and its biggest non-regional member is the United States. Each of them contributes roughly 16% of the bank's capital.

Most of the ADB's assistance goes to government and the public sector, but it also provides some private-sector help in the form of equity investments, loan guarantees, and direct loans. It gave out more than $10 billion in loans last year, and it provided $1.5 billion worth of assistance to the private sector. It has a triple-A credit rating, which enables it to tap into capital markets at the best rates.