In which of the following years was ADB (Asian Development Bank) established?
1966
Understanding the Asian Development Bank (ADB) Establishment
The question asks about the establishment year of the Asian Development Bank (ADB). The ADB is a regional development bank that aims to promote social and economic development in Asia and the Pacific.
Let's look at the options provided and determine the correct establishment year for the ADB.
Establishment of the Asian Development Bank (ADB)
The Asian Development Bank (ADB) was established in December 1966. Its formation was a result of a desire for a regional financial institution that would focus on the development needs of countries in Asia and the Pacific.
Key details about the establishment:
- The idea for the ADB was first proposed in the early 1960s.
- The Agreement Establishing the Asian Development Bank was signed in Manila, Philippines, in 1965.
- The bank officially opened for business in December 1966.
The headquarters of the Asian Development Bank (ADB) is located in Manila, Philippines.
Analyzing the Options for ADB Establishment Year
Let's examine the given years:
- 1978: This year is after the actual establishment of the Asian Development Bank.
- 1966: The Asian Development Bank (ADB) was indeed established in 1966. This aligns with historical records regarding the formation of this key regional development bank.
- 1980: This year is also after the establishment of the Asian Development Bank.
- 1959: This year is before the establishment of the Asian Development Bank.
Based on historical facts about the Asian Development Bank's founding, the year 1966 is correct.
Conclusion on ADB Founding Year
The Asian Development Bank (ADB) was established in 1966. This makes the option stating 1966 the correct answer to the question about the ADB's establishment year.
| Institution | Establishment Year | Headquarters | Focus Region |
|---|---|---|---|
| Asian Development Bank (ADB) | 1966 | Manila, Philippines | Asia and the Pacific |
Revision Table: Asian Development Bank
| What is ADB? | Asian Development Bank - A regional development bank. |
| When was ADB established? | 1966 |
| Where is ADB's headquarters? | Manila, Philippines |
| What is ADB's main goal? | Promote social and economic development in Asia and the Pacific. |
Additional Information: International Financial Institutions
The Asian Development Bank (ADB) is one of several major international financial institutions (IFIs) that play a role in global development. Here are a few others:
- World Bank: Provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. Established in 1944.
- International Monetary Fund (IMF): Works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Established in 1944.
- African Development Bank (AfDB): A multilateral development financial institution established to contribute to the sustainable economic development and social progress of African countries. Established in 1964.
- Inter-American Development Bank (IDB): The leading source of development financing for Latin America and the Caribbean. Established in 1959.
Understanding the establishment years and purposes of these different institutions helps in understanding the landscape of international development finance.
Important Questions from International Economic institutions
- Match List – I with List – II and select correct answer from the codes given below :
List – I List – II a. International Monetary Fund i. Lending to private sector b. International Bank for Reconstruction and Development ii. Balance of Payments problems c. International Development Association iii. Soft Loan to poor countries d. International Finance Corporation iv. Socio-economic infrastructure - Match the items of List-I with List-II and denote the code of correct matching.Codes :
List – I List – II a. International Bank for Reconstruction and Development i. 1945 b. International Finance Corporation ii. 1956 c. Asian Development Bank iii. 1966 d. Export-Import Bank of India iv. 1981 Assertion (A) : International Finance Corporation (IFC) contributes to increase sustainable agriculture opportunities, improve health and education and increase access to financing for micro finance and business client.
Reasoning (R) : The IFC has focused on a set of development goals to ensure that its projects are expected to achieve the target.
Codes :
Match the items of List - I with those of List - II; and choose the correct code of combination :
List - I List - II (a) Poverty Reduction and Growtd Facility (PRGF) (i) 1997 (b) Supplemental Reserve Facility (SRF) (ii) 1974 (c) Extended Fund Facility (EFF) (iii) 1999 - Which among the following is not an international economic institution ?
