Question
Consider the following statements about Asian
Development Bank (ADB)? I. ADB is a regional development bank established on 19 December 1966. II. Its headquarters is located in the city of Mandaluyong, Metro Manila, Philippines.. III. India is the founding member of ADB. Which of the following statements is/are incorrect?Solution
ADB is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. From 31 members at its establishment, ADB now has 68 members. A founding member of ADB in 1966, India is now ADB's fourth largest shareholder and its top borrower since 2010. Â
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