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With reference to the multilateral financing for Asian countries, consider the following statements:
Both Public and Private sectors can borrow from New Development Bank (NDB), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB).
  • While NDB can lend to projects in any country, ADB and AIIB can lend to projects only in the Asian Countries.
  • Grants from Asian Development Fund can be provided by both NDB and ADB.
    Which of the statements given above is/are correct?
    • a)
      1 only
    • b)
      1 and 2 only
    • c)
      2 and 3 only
    • d)
      1, 2 and 3
    Correct answer is option 'A'. Can you explain this answer?
    Most Upvoted Answer
    With reference to the multilateral financing for Asian countries, con...
    • Asian Development Bank (ADB), established in 1966, is owned by 68 members - 49 are from within Asia and the Pacific and 19 members outside this region.
    • The New Development Bank (NDB), was set up by the BRICS countries in 2015 with a more equitable power structure, to fund infrastructure projects.
    • AIIB began operations in 2016 with 57 founding Members (37 regional and 20 non-regional). By the end of 2020, they had 103 approved Members representing approximately 79 percent of the global population and 65 percent of global GDP. Both Public and Private sectors can borrow from all these three banks. So, Statement 1 is correct.
    • NDB can mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies, as well as in developing countries.
    • ADB lend to its member countries which include countries from Asia, Europe and the Pacific region.
    • AIIB may provide or facilitate financing to any member, or any agency, instrumentality or political subdivision thereof, or any entity or enterprise operating in the territory of a member, as well as to international or regional agencies or entities concerned with the economic development of Asia. So, Statement 2 is not correct.
    • The Asian Development Fund (ADF), offers loans at very low-interest rates and grants to ADB's poorest borrowing countries, but it can be provided only by the Asian Development Bank and not by NDB. So, Statement 3 is not correct.
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    With reference to the multilateral financing for Asian countries, consider the following statements: Both Public and Private sectors can borrow from New Development Bank (NDB), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB). While NDB can lend to projects in any country, ADB and AIIB can lend to projects only in the Asian Countries. Grants from Asian Development Fund can be provided by both NDB and ADB. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?
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    With reference to the multilateral financing for Asian countries, consider the following statements: Both Public and Private sectors can borrow from New Development Bank (NDB), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB). While NDB can lend to projects in any country, ADB and AIIB can lend to projects only in the Asian Countries. Grants from Asian Development Fund can be provided by both NDB and ADB. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. 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 With reference to the multilateral financing for Asian countries, consider the following statements: Both Public and Private sectors can borrow from New Development Bank (NDB), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB). While NDB can lend to projects in any country, ADB and AIIB can lend to projects only in the Asian Countries. Grants from Asian Development Fund can be provided by both NDB and ADB. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the multilateral financing for Asian countries, consider the following statements: Both Public and Private sectors can borrow from New Development Bank (NDB), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB). While NDB can lend to projects in any country, ADB and AIIB can lend to projects only in the Asian Countries. Grants from Asian Development Fund can be provided by both NDB and ADB. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?.
    Solutions for With reference to the multilateral financing for Asian countries, consider the following statements: Both Public and Private sectors can borrow from New Development Bank (NDB), Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB). While NDB can lend to projects in any country, ADB and AIIB can lend to projects only in the Asian Countries. Grants from Asian Development Fund can be provided by both NDB and ADB. Which of the statements given above is/are correct?a)1 onlyb)1 and 2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
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