What is the role of ADB's Board of Governors?

The role of ADB's Board of Governors primarily involves approving the strategies and budgets of the organization. This board, composed of one governor from each member country, takes significant decisions regarding the operational and financial strategies of ADB. They provide guidance and direction for the institution's policies, crucial for ensuring that the bank can effectively address the needs of its member countries.

The Board of Governors meets annually and is key in setting the strategic priorities for ADB, ensuring that the objectives align with the developmental goals of the region. By approving budgets, the board ensures that resources are allocated appropriately to support various initiatives, programs, and projects aimed at reducing poverty and promoting sustainable economic growth in Asia and the Pacific.

While the managing of daily operations and staff falls under different levels of management within ADB, and while establishing partnerships with the private sector is an important aspect of ADB's operational strategy, it is the Board of Governors that has final say on broader strategic issues. Similarly, overseeing financial audits of member countries is not within the purview of the Board of Governors, as this would typically involve other operational or oversight entities. Thus, focusing on their essential role in approving strategies and budgets highlights the critical governance function that the Board of Governors performs within ADB.