In which country is the headquarters of Asian Development Bank (ADB) situated?
- A.Philippines
- B.South Korea
- C.China
- D.Japan
Show answer
Correct answer: A. Philippines
Explanation
The correct answer is A, Philippines. The Asian Development Bank has its headquarters in Mandaluyong City, Metro Manila, in the Philippines. It was set up in 1966 to fund development in Asia and the Pacific, and India was one of its founding members. Japan and the United States are its two largest shareholders, and by tradition its president has always been Japanese. The ADB lends for roads, power, water and urban projects, and India is among its biggest borrowers. B is wrong because South Korea hosts the Green Climate Fund at Songdo, not the ADB. C is wrong because China is the home of the Asian Infrastructure Investment Bank (Beijing) and the New Development Bank of BRICS (Shanghai). D is wrong because Japan is only the largest shareholder; the bank was deliberately located in Manila rather than Tokyo. Exam tip: ADB in Manila (1966), AIIB in Beijing (2016), New Development Bank in Shanghai (2015).