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Q70 (CAPF/2008) International Relations & Global Affairs › International Organisations & Groupings › International financial institutions Answer Verified

Where is the headquarters of Asian Development Bank ?

Result
Your answer: —  Â·  Correct: B
Explanation

The Asian Development Bank (ADB) is a multilateral development bank established in 1966 with the primary objective of eradicating poverty and promoting sustainable economic growth in the Asia and Pacific region [2]. The headquarters of the ADB is located at 6 ADB Avenue, Mandaluyong City, which is part of the Metro Manila region in the Philippines [1][t1][t3]. While the bank has 68 member countries, including those from outside Asia like the United States, its central administrative operations have been based in Manila since its inception [1][t5]. Other regional financial institutions like the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB) are headquartered in Beijing and Shanghai, respectively, but the ADB remains firmly established in the Philippines [c3][c4].

Sources

  1. [1] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > ASIAN DEVELOPMENT BANK > p. 530
  2. [2] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > ASIAN DEVELOPMENT BANK > p. 531
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