Asian Development Bank (ADB) - UPSC Current Affairs

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Context

India signed a $400 million policy-based loan agreement with the Asian Development Bank (ADB).

Aim of the Policy Agreement

To create high-quality urban infrastructure, improve service delivery, and promote efficient governance systems.
The programme also envisages integrated planning reforms to control urban sprawl and foster systemic and planned urbanization through enhancing the entire ecosystem of legal, regulatory, and institutional reforms.

READ ALL ABOUT ADB IN DETAIL: https://www.iasgyan.in/daily-current-affairs/asian-development-bank-adb#:~:text=India%20is%20a%20founding%20member,partnership%20strategy%2C%202023%E2%80%932027.

PRACTICE QUESTION

Q. Consider the following statements with reference to Asian Development Bank (ADB).

1. India is a founding member of ADB and the bank’s second-largest shareholder.

2. ADB was set up in 1966 under the auspices of the United Nations organization now known as ESCAP (Economic and Social Commission for Asia and the Pacific).

3. From 31 members at its establishment, ADB now has 100 members.

How many of the above statements are incorrect?

A) Only 1

B) Only 2

C) All 3

D) None

Answer: A) Only 1

Statement 1 is incorrect. India is the fourth largest shareholder.