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Question

Q. Consider the following pairs

List 1 (Financial Institutions ) List 2 (Headquarters)
1. New Development Bank Beijing, China
2. Asian Development Bank Manila, Philippines
3. Asian Infrastructure Investment Bank Shanghai, China

Which of the above pairs is/are incorrectly matched?

A
1 and 2 only
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B
2 only
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C
3 only
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D
1 and 3 only
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Solution

The correct option is D 1 and 3 only

Explanation:

  • New Development Bank is a development Bank established under the BRICS framework. It is headquartered in Shanghai, China.
  • Asian Development Bank is a regional development bank. The aim of the ADB is social development by reducing poverty in the Asia Pacific with inclusive growth, sustainable growth, and regional integration. Its head office is in Manila (Philippines).
  • The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with headquarters in Beijing, China. It focuses on investment in sustainable infrastructure and developmental projects.

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