Question
Which of the following statements is/are not true with
respect to the Asian Development Bank? I.ADB is a regional development bank established in 1966 exclusively for Asian countries. II.India is a founding member of the ADB. III.The top three largest shareholders of the bank are Japan, India, and China.Solution
ADB is a regional development bank established in 1966 with the objective of promoting social and economic development in Asia and the Pacific.India is a founding member. ADB assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. As of 31st December 2022, ADB's five largest shareholders are Japan and the US (each with 15.6% of total shares), China (6.4%), India (6.3%), and Australia (5.8%).Â
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