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Consider the following statements regarding the Africa Club:
1. It is an alliance of African multilateral financial Institutions.
2. It aims to eradicate poverty from all countries of the African Union.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding the Africa Club:1. It is a...
Recently, at the 37th African Union Summit member countries took an initiative of forming Africa Club.
- What it is? It is the Alliance of African Multilateral Financial Institutions (which are African owned and controlled) launched at the African Union summit.
- The initiative aims to amplify Africa's influence in the global financial system by aligning its functions with the SDGs and the African Union's Agenda 2063.
- It seeks to introduce innovative financial instruments, provide a venue for debt management discussions and foster collaborative effort to address the specific needs of African countries.
- Its members include African Export Import Bank, Trade and Development Bank, Africa Finance Corporation, African Reinsurance Corporation, African Trade and Investment Development Insurance, Shelter Afrique Development Bank and ZEP – RE (PTA Reinsurance Co).
Hence only statement 1 is correct.
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Consider the following statements regarding the Africa Club:1. It is a...
Explanation:
1. Africa Club:
- The Africa Club is not an alliance of African multilateral financial institutions. It is a group of African leaders and policymakers who come together to discuss and address key issues facing the continent.
- Therefore, statement 1 is incorrect.
2. Aims of Africa Club:
- The primary aim of the Africa Club is to promote sustainable development in Africa by fostering dialogue, collaboration, and knowledge sharing among African leaders and policymakers.
- While poverty eradication is a key goal for many African organizations and initiatives, the Africa Club's main focus is on broader development issues rather than specifically targeting poverty eradication.
- Therefore, statement 2 is incorrect.
In conclusion, neither of the statements given is correct. The Africa Club is not an alliance of African multilateral financial institutions, and its main aim is not solely focused on eradicating poverty from all countries of the African Union.
1. Africa Club:
- The Africa Club is not an alliance of African multilateral financial institutions. It is a group of African leaders and policymakers who come together to discuss and address key issues facing the continent.
- Therefore, statement 1 is incorrect.
2. Aims of Africa Club:
- The primary aim of the Africa Club is to promote sustainable development in Africa by fostering dialogue, collaboration, and knowledge sharing among African leaders and policymakers.
- While poverty eradication is a key goal for many African organizations and initiatives, the Africa Club's main focus is on broader development issues rather than specifically targeting poverty eradication.
- Therefore, statement 2 is incorrect.
In conclusion, neither of the statements given is correct. The Africa Club is not an alliance of African multilateral financial institutions, and its main aim is not solely focused on eradicating poverty from all countries of the African Union.
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Consider the following statements regarding the Africa Club:1. It is an alliance of African multilateral financial Institutions.2. It aims to eradicate poverty from all countries of the African Union.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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