Q. Consider the following statements regarding “Asian Development Bank (ADB)”:
1.India is one of the founding members of ADB.
2.Its headquarters is located at Manila, Philippines.
Which of the statements given above is/are correct?
Explanation: Set up in 1966 with 31 founding members (India being one of them), today (by March 2017) it has grown to encompass 67 members—of which 48 are from Asia and Pacific and 19 from outside.
- Asian development Bank has its headquarters situated at Manila, Philippines.
- The purpose of the Bank is to foster economic growth and co-operation in the region of Asia and the Far East and to contribute to economic development of the developing member countries, collectively and individually.
Source: Ramesh Singh