The main function of the African Development Bank (AFDB) is to

  • A promote free trade and development among members
  • B provide loans to finance balance of payment problems
  • C provide loans to members to finance viable projects
  • D help members overcome their internal problems
waec 2022economics

The correct answer is C. provide loans to members to finance viable projects

African Development Bank is a bank owned by African countries which belonged to the African Union. The objective are:

- Provision of loans to aid social and economic development of member nations.

- Provision of technical assistance for development projects and programms embarked upon by member nations.

- It fosters economic integration among member nations.

Previous question Next question