CURRENT AFFAIRS

Detailed explanation-1: -From 31 members at its establishment in 1966, ADB has grown to encompass 68 members-of which 49 are from within Asia and the Pacific and 19 outside.

Detailed explanation-2: -The Asian Development Bank (ADB) has approved a $250 million policy-based loan to support the centre’s reforms aimed at strengthening and modernizing logistics infrastructure, improving efficiency, and lowering costs.

Detailed explanation-3: -ADB’s 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22.

Detailed explanation-4: -Niue became the 68th Member of the Asian Development Bank in March 2019.