Test: International Finance - Bank Exams MCQ

World Bank has headquarters in Washington, D.C., United States

• OECD is the acronym of Organisation for Economic Co-operation and Development.
• OECD is an international organisation that works to build better policies for better lives.
• OECD is an intergovernmental economic organisation with 38 member countries.
• It was founded in 1961 to stimulate economic progress and world trade.
• The headquarters of the OECD is located in Paris in France.
• India is not a member of OECD but a key economic partner.
• Colombia in 2020 and Costa Rica in 2021 were the most recent countries to join the OECD.

The International Monetary Fund is an international organization headquartered in Washington, D.C., of "189 countries working to foster global monetary cooperation, secure financial stability.

• The headquarters of the Asian Development Bank is located in Manila, Philippines.
• ADB was established in 1966. The bank started its functioning on 1st January 1967.
• Japan and USA is its major donor. Japan-15.67%, USA-15.567%, China-6.4%, India-5.8%.
• ADB now has 68 members, of which 49 are from Asia and the Pacific and 19 outside.
• The main aim of ADB is social development by reducing poverty in Asia Pacific with inclusive growth and regional integration.
• India started availing ADB’s assistance in 1986. Six sector in India where ADB’s presence- Transport, Energy, Finance and public sector, Water & Transport services, Agriculture & Human Development Index.

• The Asian South-East Nations Association(ASEAN) is a regional intergovernmental organization comprising 10 Southeast Asian countries, fostering intergovernmental cooperation and promoting economic, educational, political, security, military, and socio-cultural integration between its members and other Asian nations.
• ASEAN is an organization formed by the governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967 to promote economic growth, peace, security, social progress, and cultural development in the Southeast Asian region. 
• It was established on 8th August 1967 in Bangkok, Thailand with the signing of the Bangkok Declaration (ASEAN Declaration).
• ASEAN Members
  • Thailand (founding member)
  • The Philippines (founding member)
  • Malaysia (founding member)
  • Singapore (founding member)
  • Indonesia (founding member)
  • Brunei (joined in 1984)
  • Vietnam (joined in 1995)
  • Lao PDR (joined in 1997)
  • Myanmar (joined in 1997)
  • Cambodia (joined in 1999)
• It is headquartered in Jakarta, Indonesia.
• ASIAN MEMBERS
  

• The Asian Development Bank(ADB) was established on 19 December 1966.
  • The aim of the ADB is to promote social and economic development in Asia.
  • ADB is an official United Nations Observer.
  • Headquarters: Mandaluyong, Metro Manila, Philippines.
• ASEAN headquarters is in Jakarta, Indonesia.
  • The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising 10 Southeast Asian countries, fostering intergovernmental cooperation and promoting economic, educational, political, security, military, and socio-cultural integration between its members and other Asian nations.
  • It was established on 8 August 1967, when the ASEAN Declaration was signed by the foreign ministers of five countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand.
  • It was awarded observer status at the UN General Assembly in 2006.
• World Economic Forum headquartered is in Cologny, Geneva, Switzerland.
  • ​The World Economic Forum is the International Organization for Public-Private Cooperation.
  • It was established in 1971 as a not-for-profit foundation.
• ​OPEC  headquarter is in Vienna, Austria.
  • OPEC aims to regulate the supply of oil and price in the world market.
  • OPEC was created at the Baghdad Conference in 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.
  • Currently, the Organization has a total of 13 Member Countries. ​
• The headquarter of UNDP is in New York City.
  • The United Nations Development Programme (UNDP) is an international organization that works to eradicate poverty while protecting the planet. UNDP works in about 170 countries and territories, helping to achieve the eradication of poverty and the reduction of inequalities and exclusion.
  • They help countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and build resilience in order to sustain development results.

• The Principles of the W.T.O. is for the foundation of a Multilateral Trading System.
• With an Objective to open trade for the benefit of all.
• The World Trade Organization (W.T.O.) is a Global International Organization.
• The W.T.O. deals with the rules of trade between nations.
• It's a forum where nations negotiate trade deals and settle trade disputes.
• The W.T.O. is run by its member countries.

• The World Bank is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement. The bank predominantly acts as an organization that attempts to fight poverty by offering developmental assistance to middle- and low-income countries.
• The World Bank Group offers a multitude of proprietary financial assistance, products, and solutions for international governments, as well as a range of research-based thought leadership for the global economy at large.
• The World Bank's Human Capital Project seeks to help nations invest in and develop their human capital to produce a better society and economy.
• The World Bank provides financing, advice, and other resources to developing countries in the areas of education, public safety, health, and other areas of need. Often, nations, organizations, and other institutions partner with the World Bank to sponsor development projects.

The Association of Southeast Asian Nations(ASEAN) is a regional intergovernmental organization comprising ten countries in geographical region, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.

• It also regularly engages other countries within the Asia-Pacific region and beyond.
• Given below is the list of all countries who are part of the ASEAN:
  • Brunei
  • Cambodia
  • Indonesia
  • Laos
  • Malaysia
  • Myanmar
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
• ASEAN was preceded by an organisation formed on 31 July 1961 called the Association of geographic region (ASA), a group consisting of Thailand, the Philippines, and the Federation of Malaya.
• It was created on 8 August 1967, when the foreign ministers of 5 countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand, signed the ASEAN Declaration.
• As of June 2020, Lim Jock Hoi is the Secretary General.
• In June 2020, it was announced that Vietnam will host a virtual summit on June 26.
• Vietnam, which holds the rotating chairmanship of ASEAN this year, earlier proposed the summit be held, with the leaders present, in Hanoi on June 27 and 28.

The main function of IMF is to help solve balance-of-payments problem of member countries