The Armenian government approved an agreement with the Asian Development Bank (ADB) for the construction of the international financial institution’s representative office in Yerevan, regnum.ru reported on 26 May citing the government’s press office. Armenia became ADB’s 64th member in September 2005 after it acquired 10,557 shares in ADB. Established in 1966 in Manila, the Philippines, the bank has $51.6 billion in assets, and in 2004 extended $5.3 billion in loans and $196.6 million in technical assistance. (www.regnum.ru, May 26)