Global MCQ Practice

Part of: Assam Gk set 18

..... and Government of India Sign $ 88 million loan agreement for the implementation of Assam Inland Water Transport Project.

Category: Assam Gk

Hint: Consider the primary focus and activities of each institution.

Correct Answer: A) World Bank.

Exam Relevance: UPSC, SSC, Banking Exams, State PSC

Difficulty: Moderate

Explanations:
  • Asian Development Bank (ADB): The ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. It provides loans, technical assistance, and grants to its developing member countries.
  • International Monetary Fund (IMF): The IMF focuses on promoting international monetary cooperation, exchange rate stability, balanced trade, and financial stability. It provides financial assistance to countries facing balance of payments problems and offers policy advice and technical assistance.
  • Asian Infrastructure Investment Bank (AIIB): The AIIB is a multilateral development bank that aims to support infrastructure development in Asia and beyond. It focuses on financing infrastructure projects that promote sustainable economic development and regional connectivity.
    • Option Analysis:
    • Option A: This option is correct. The World Bank is known for providing loans for development projects, including infrastructure projects like the Assam Inland Water Transport Project. The World Bank's focus on poverty reduction and economic development aligns with the goals of such projects.
    • Option B: This option is incorrect. While the Asian Development Bank (ADB) also provides loans for infrastructure projects, the specific loan agreement mentioned in the question is with the World Bank. The ADB has a different operational area and focus, primarily in the Asia-Pacific region.
    • Option C: This option is incorrect. The International Monetary Fund (IMF) primarily focuses on macroeconomic stability and financial assistance to countries facing balance of payments problems. It does not typically provide loans for infrastructure projects like the Assam Inland Water Transport Project.
    • Option D: This option is incorrect. The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that focuses on infrastructure projects in Asia, but the specific loan agreement mentioned in the question is with the World Bank. The AIIB is a relatively new institution and has a different operational focus compared to the World Bank.

    Mnemonic: W-Bank for big projects

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