Western dominated IMF, ADB, World Bank

Q.  Which of the following banks/institutions is/are considered western dominated?

1) IMF
2) World Bank
3) ADB
- Published on 29 Feb 16

a. 1,2
b. 1, 3
c. 2, 3
d. All of the above

ANSWER: All of the above
 
  • The New Development Bank (NDB) and the China-led Asian Infrastructure Development Bank (AIIB) — both geared towards infrastructure development in Asia and the Global South — are reshaping the global financial architecture, a field that had been monopolized by western backed International Monetary Fund (IMF), the World Bank and the Asian Development Bank (ADB).
  • The New Development Bank (NDB) is a multilateral lender with a focus on the Global South of the Brazil-Russia-India-China-South Africa (BRICS) grouping.
  • NDB President is K.V. Kamath.

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