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Consider the following statements regarding the Asian Development Bank (ADB).
1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.
2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.
3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.
Which of the above statements is/are correct?
(b)1 and 2 only
- a)1 and 3 only
- b)2 and 3 only
- c)All of the above
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Consider the following statements regarding the Asian Development Ban...
About ADB
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(i) It is a regional development bank.
(ii) Established on 19 December 1966.
(iii) headquartered — Manila, Philippines.
(iv) Official United Nations Observer.
The Bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries.
ADB now has 68 members, 49 from within Asia.
It is modelled closely on the World Bank and has a similar weighted voting system where votes are distributed in proportion with members' capital subscriptions.
As of 31 December 2019, ADB's five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People's Republic of China (6.4%), India (6.3%), and Australia (5.8%).
Roles and functions:
Dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
This is carried out through investments - in the form of loans, grants and information sharing - in infrastructure, health care services, financial and public administration systems, helping nations prepare for the impact of climate change or better manage their natural resources, as well as other areas.
Most Upvoted Answer
Consider the following statements regarding the Asian Development Ban...
Answer:
Introduction:
The Asian Development Bank (ADB) is a regional development bank that aims to reduce poverty in Asia and the Pacific through inclusive economic growth. It plays a crucial role in providing financial and technical assistance to its member countries for the development of infrastructure, energy, education, healthcare, and other sectors. This question tests the knowledge about the objectives, membership, and structure of the ADB.
Explanation:
Let's analyze each statement to determine its correctness:
Statement 1: Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.
This statement is correct. The ADB's main objective is to promote sustainable economic growth, reduce poverty, and improve living conditions in its developing member countries in Asia and the Pacific region. It achieves this by providing loans, grants, and technical assistance for various development projects.
Statement 2: The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.
This statement is incorrect. The ADB primarily consists of regional members, which include countries from Asia and the Pacific region. Non-regional developed countries can participate in the ADB's operations but cannot become members. However, the ADB collaborates with various international organizations, including the United Nations and its agencies, to achieve its objectives.
Statement 3: The ADB was modeled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.
This statement is incorrect. The ADB was established in 1966, whereas the New Development Bank (also known as the BRICS Development Bank) was established in 2014. The ADB's initial subscribed capital was not equally distributed among the founding members. Instead, it was based on the economic size and contribution of each member country.
Conclusion:
Out of the given statements, only Statement 1 is correct. The Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth. The other statements are incorrect because the ADB does not admit non-regional developed countries like the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), and its initial subscribed capital was not equally distributed among the founding members like the New Development Bank. Therefore, the correct answer is option B: 1 and 3 only.
Introduction:
The Asian Development Bank (ADB) is a regional development bank that aims to reduce poverty in Asia and the Pacific through inclusive economic growth. It plays a crucial role in providing financial and technical assistance to its member countries for the development of infrastructure, energy, education, healthcare, and other sectors. This question tests the knowledge about the objectives, membership, and structure of the ADB.
Explanation:
Let's analyze each statement to determine its correctness:
Statement 1: Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.
This statement is correct. The ADB's main objective is to promote sustainable economic growth, reduce poverty, and improve living conditions in its developing member countries in Asia and the Pacific region. It achieves this by providing loans, grants, and technical assistance for various development projects.
Statement 2: The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.
This statement is incorrect. The ADB primarily consists of regional members, which include countries from Asia and the Pacific region. Non-regional developed countries can participate in the ADB's operations but cannot become members. However, the ADB collaborates with various international organizations, including the United Nations and its agencies, to achieve its objectives.
Statement 3: The ADB was modeled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.
This statement is incorrect. The ADB was established in 1966, whereas the New Development Bank (also known as the BRICS Development Bank) was established in 2014. The ADB's initial subscribed capital was not equally distributed among the founding members. Instead, it was based on the economic size and contribution of each member country.
Conclusion:
Out of the given statements, only Statement 1 is correct. The Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth. The other statements are incorrect because the ADB does not admit non-regional developed countries like the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), and its initial subscribed capital was not equally distributed among the founding members like the New Development Bank. Therefore, the correct answer is option B: 1 and 3 only.
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Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer?.
Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer?.
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ample number of questions to practice Consider the following statements regarding the Asian Development Bank (ADB).1. Asian Development Bank (ADB) is a regional development bank dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth.2. The Bank admits the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and non-regional developed countries.3. The ADB was modelled closely on the New Development Bank, where the Bank's initial subscribed capital was equally distributed among the founding members.Which of the above statements is/are correct?(b)1 and 2 onlya) 1 and 3 onlyb) 2 and 3 onlyc) All of the aboveCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
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