Q. With reference to Multilateral Development Banks (MDBs), consider the following statements:
1.They primarily focus on providing short-term financial assistance.
2.International Monetary Fund (IMF) is a type of MDB.
Which of the statement(s) given above is/are correct?
Answer: D
Notes:
Explanation –
Statements 1 and 2 are incorrect. MDBs are known for providing long-term financial assistance to support economic and social development projects in developing countries, such as infrastructure and social programs. The IMF is not a multilateral development bank; it is an international financial institution focused on global monetary cooperation and financial stability. Examples of MDBs are: The World Bank Group, The Inter-American Development Bank, The Asian Development Bank, etc.
Source: AIR
