CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

India is seeking as much as $6 billion of loans from multilateral institutions such as the Asian Development Bank to fight the coronavirus outbreak. Where is the headquarters of ADB?

A	Nepal
B	India
C	China
D	Philippines

Explanation:

Detailed explanation-1: -The headquarters of ADB is in Manila, Philippines.

Detailed explanation-2: -ADB Signs $131 Million Loan to Support the Jawaharlal Nehru Port Container Terminal Upgrade, Enhance International Trade. ADB and Nhava Sheva Freeport Terminal Private Limited signed a $131 million loan to upgrade the Jawaharlal Nehru Port Container Terminal located in Navi Mumbai Maharashtra.

Detailed explanation-3: -ADB obtains its funding by issuing bonds on the world’s capital markets. It also relies on the contributions of member countries, retained earnings from lending operations, and the repayment of loans.

Detailed explanation-4: -ADB’s initial $20 billion COVID-19 response package supports its developing member countries in countering the severe macroeconomic and health impacts caused by COVID-19, including $2.5 billion in concessional and grant resources, as well as $2 billion earmarked for the private sector (non-sovereign).

There is 1 question to complete.