Regional Banks — Set 3

Correct Answer: B. Kampala

• **Kampala** = This city in Uganda is where the East African Development Bank (EADB) is headquartered. • **1967** — The year the East African Development Bank (EADB) was established. • 💡 Wrong-option analysis: Nairobi: Capital of Kenya, a member state; Dar es Salaam: Major city in Tanzania, a member state; Kigali: Capital of Rwanda, a member state.

Correct Answer: B. EIF

• **European Investment Fund (EIF)** = This regional financial institution provides venture capital and guarantees for small and medium-sized enterprises (SMEs) and is headquartered in Luxembourg. • **1994** — The year the EIF was established. • 💡 Wrong-option analysis: EIB: European Investment Bank, also in Luxembourg but founded earlier; NIB: Nordic Investment Bank, serves Nordic and Baltic countries; BSTDB: Black Sea Trade and Development Bank, serves the Black Sea region.

Correct Answer: A. CAF

• **CAF** = The Andean Development Corporation is the former name of this current regional bank, which is now the Development Bank of Latin America. • **Latin America** — CAF is currently one of the main sources of multilateral financing in this region. • 💡 Wrong-option analysis: IDB: Inter-American Development Bank, a different entity; CDB: Caribbean Development Bank, serves a different region; BOAD: West African Development Bank, serves Africa.

Correct Answer: D. None - it is independent

• **None - it is independent** = The Asian Development Bank (ADB) is an independent multilateral organization and does not have any external secretariat. • **independent** — The ADB functions as an autonomous entity with its own board and president. • 💡 Wrong-option analysis: ASEAN: Association of Southeast Asian Nations, a political-economic union; APEC: Asia-Pacific Economic Cooperation, a forum for economic growth; UNESCAP: UN Economic and Social Commission for Asia and the Pacific, works with ADB but is not its secretariat.

Correct Answer: B. Russia and Kazakhstan

• **Russia and Kazakhstan** = These two countries founded the Eurasian Development Bank (EDB) in 2006 to promote market economies and trade in Eurasia. • **2006** — The year the EDB was established by its founding countries. • 💡 Wrong-option analysis: Russia and China: China is not a founding member; Russia and Belarus: Belarus joined later; China and Kazakhstan: China is not a founding member.

Correct Answer: A. DBSA

• **Development Bank of Southern Africa (DBSA)** = This regional bank serves as the financial wing for the Southern African Development Community (SADC). • **1983** — The year the DBSA was established. • 💡 Wrong-option analysis: AfDB: African Development Bank, covers the entire continent; SADC Development Fund: Not the official name of its financial wing; Standard Bank: A commercial bank, not a regional development bank.

Correct Answer: C. ADB

• **Asian Development Bank (ADB)** = This bank has historically been the primary multilateral source of development finance for the Central Asian region. • **CAREC program** — ADB funds major regional projects under the Central Asia Regional Economic Cooperation (CAREC) program. • 💡 Wrong-option analysis: EDB: Eurasian Development Bank, primarily Russia and Kazakhstan; AIIB: Asian Infrastructure Investment Bank, focuses on infrastructure; IDB: Inter-American Development Bank, serves Latin America.

Correct Answer: B. A developing nation

• **A developing nation** = The Kuwait Fund for Arab Economic Development (KFAED) was the first development fund established by a developing country to help other developing countries. • **1961** — The year KFAED was established, marking its pioneering role. • 💡 Wrong-option analysis: OPEC members: While Kuwait is an OPEC member, the distinction is being 'a developing nation'; Non-aligned movement: A political movement, not a financial entity; G77: A group of developing countries, but KFAED was a specific national initiative.

Correct Answer: A. AfDB

• **African Development Bank (AfDB)** = This regional bank strictly requires its regional members to be part of the African Union. • **African Union** — Regional members of the AfDB must be part of this intergovernmental organization. • 💡 Wrong-option analysis: BOAD: West African Development Bank, limited to WAEMU states; ECOWAS Bank: ECOWAS Bank for Investment and Development, limited to ECOWAS states; Trade and Development Bank: Primarily for Eastern and Southern Africa.

Correct Answer: C. Togo

• **Togo** = The ECOWAS Bank for Investment and Development (EBID) is based in Lomé, the capital city of this country. • **1975** — The year EBID was established to foster economic growth and regional integration in West Africa. • 💡 Wrong-option analysis: Nigeria: A major ECOWAS member, but not the headquarters; Ghana: Also a major ECOWAS member, but not the headquarters; Senegal: An ECOWAS member, but not the headquarters.