With reference to the Asian Development Bank (ADB) consider the following statements:1.It is a regional development bank focused on promoting military development and arms trade among its member countries.2.It is headquartered at Manila, Philippines. 3.Japan is one of the largest shareholders of ADB.Which of the statements given above are correct?

Q. With reference to the Asian Development Bank (ADB) consider the following statements:
1.It is a regional development bank focused on promoting military development and arms trade among its member countries.
2.It is headquartered at Manila, Philippines.
3.Japan is one of the largest shareholders of ADB.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: B

Notes:

Explanation –

Statement 1 is incorrect. ADB is a regional development bank established in 1966 to promote economic and social progress in the Asia-Pacific region. Its primary goal is to reduce poverty and foster sustainable development in its member countries.

Statements 2 and 3 are correct. ADB is headquartered at Manila, Philippines. As of 2022, ADB’s five largest shareholders are Japan and the United States (each with 15.6%), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).

Source: ForumIAS

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