Identify one among the following which is NOT part of the objectives or functions of...
Identify one among the following which is NOT part of the objectives or functions of the African Development Bank (ADB)
- A) provision of technical assistance for development project
- B) provision of funds for the supply and demand of infrastructural facilities
- C) adoption of a common tariff policy for trade and development
- D) provision of fund for agricultural development
Correct Answer: C) adoption of a common tariff policy for trade and development
Explanation
The question is asking us to identify which of the options is not a function or objective of the African Development Bank (ADB). The options are A, B, C, and D. Option A is the provision of technical assistance for development projects, Option B is the provision of funds for the supply and demand of infrastructural facilities, Option C is the adoption of a common tariff policy for trade and development, and Option D is the provision of funds for agricultural development.
To answer the question, we need to know what the African Development Bank (ADB) is and what its functions and objectives are. The ADB is a regional development bank established in 1964 to promote economic and social development in Africa. Its main objective is to contribute to the sustainable economic development and social progress of its regional member countries (RMCs) by mobilizing financial resources for investment in sustainable development projects and providing policy advice and technical assistance to support development efforts.
Option A, the provision of technical assistance for development projects, is one of the functions of the ADB. This means that the ADB provides technical assistance to help RMCs design, implement, and monitor their development projects.
Option B, the provision of funds for the supply and demand of infrastructural facilities, is also a function of the ADB. This means that the ADB provides financial support to RMCs to help them build and improve their infrastructural facilities such as roads, bridges, power plants, and water supply systems.
Option C, the adoption of a common tariff policy for trade and development, is NOT part of the objectives or functions of the ADB. A common tariff policy refers to a policy where countries in a region agree to apply the same tariffs to imported goods. While the ADB supports regional integration and promotes trade and investment among RMCs, it does not adopt a common tariff policy for trade and development.
Option D, the provision of funds for agricultural development, is also a function of the ADB. This means that the ADB provides financial support to RMCs to help them develop their agricultural sector, increase agricultural productivity, and improve food security.
Therefore, the correct answer to the question is Option C, the adoption of a common tariff policy for trade and development.