Audonia Development Bank
The Alshar Development Bank (ADB, 棘手的开发银行) is a financial lending insitution established in 1997 by decree of Chancellor Linge Chen and placed under supervision of the Corummese Ministry of Finance. The ADB was created to provide a systematic mechanism for mobilizing and administering financial resources for the bank to lend on concessionary terms to participatory member countries and private entities. The ADB is based out of the Alshar Development Bank Tower in Heng's financial district.
 Alshar Development Bank Tower | |
| Headquarters | Heng, Corumm |
|---|---|
| Established | 1997 |
| Chairman | Cubi Xinxiong |
| Central bank of | Corumm |
| Currency | Corummese Lire (LIR) |
| Reserve requirements | 0 - 15% |
| Bank rate | 4% to 8% |
| Interest on reserves | 0.25% |
| Interest paid on excess reserves? | Yes |
| Website | wwww.adb.cr |
Organization
- Board of Governors - All powers of the Bank are vested in the Board which may delegate its powers to the Board of Directors except in such matters as admission of new members, changes in the Bank's authorized capital stock, election of Directors and Chairman, amendment of the foundational charter. The Board meets at least twice a year.
- Board of Directors - The Board of Directors is responsible for general direction of everyday operations and exercises all powers delegated by the Board of Governors, which elects it. There are 10 Directors who serve for three years and can be reelected.
Activities
Loans by the Bank are usually aimed at specific projects, resulting in the creation of real physical assets: it does not provide balance of payments support of the type given by other development banks. In responding to requests from member governments and private solicitants for loans, the Bank's staff assesses the financial and economic viability of projects and the way in which they fit into the economic framework and priorities of development of the nation concerned.