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With reference to the Asian Development Bank (ADB), consider the following statements:
1. ADB was established in 2002 and has headquarters in Tokyo, Japan.
2. India is the largest shareholder in ADB.
3. Members of ADB cannot join the Asian Infrastructure Investment Bank (AIIB).
Which of the statements given above are incorrect?
  • a)
    1 only
  • b)
    2 and 3 only
  • c)
    1 and 3 only
  • d)
    1, 2 and 3
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
With reference to the Asian Development Bank (ADB), consider the follo...
Statement 1 is incorrect: The Asian Development Bank (ADB), with an international partnership of its member countries, was established in 1966 and  has headquarters at Manila, the Philippines. The Bank is engaged in promoting the economic and social progress of its developing member countries in the Asia-Pacific region. Its principal functions are as follows
  • To make loans and equity investments for the economic and social advancement of its developing member countries;
  • To provide technical assistance for the preparation and execution of development projects and programmes and advisory services;
  • To respond to the requests for assistance in coordinating development policies and plans in developing member countries, and
  • To respond to the requests for assistance and coordinate the development policies and plans of developing member countries.
Statement 2 is incorrect: India is a founding member of ADB. However, India is not the largest shareholder of ADB. As of 31 December 2022, 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%). Statement 3 is incorrect: Membership in AIIB shall be open to members of the International Bank for Reconstruction and Development (IBRD) or the Asian Development Bank (ADB).
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With reference to the Asian Development Bank (ADB), consider the following statements:1. ADB was established in 2002 and has headquarters in Tokyo, Japan.2. India is the largest shareholder in ADB.3. Members of ADB cannot join the Asian Infrastructure Investment Bank (AIIB).Which of the statements given above are incorrect?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
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With reference to the Asian Development Bank (ADB), consider the following statements:1. ADB was established in 2002 and has headquarters in Tokyo, Japan.2. India is the largest shareholder in ADB.3. Members of ADB cannot join the Asian Infrastructure Investment Bank (AIIB).Which of the statements given above are incorrect?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. 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 Asian Development Bank (ADB), consider the following statements:1. ADB was established in 2002 and has headquarters in Tokyo, Japan.2. India is the largest shareholder in ADB.3. Members of ADB cannot join the Asian Infrastructure Investment Bank (AIIB).Which of the statements given above are incorrect?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. 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 Asian Development Bank (ADB), consider the following statements:1. ADB was established in 2002 and has headquarters in Tokyo, Japan.2. India is the largest shareholder in ADB.3. Members of ADB cannot join the Asian Infrastructure Investment Bank (AIIB).Which of the statements given above are incorrect?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?.
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