IR - Regional Organizations - COMPASS 2025 Flashcards
(53 cards)
What is the mission of the Asian Development Bank?
To help its developing member countries reduce poverty and improve the quality of life of their people.
How many members does the Asian Development Bank have?
69 members
Which country is the founding member of the Asian Development Bank?
India
How does the Asian Development Bank raise funds?
Through bond issues on world capital markets, members’ contributions, earnings from lending operations, and loan repayments.
Who holds the chairmanship of the Asian Development Bank?
A Japanese person
What is the New Development Bank also known as?
BRICS bank
When was the New Development Bank established?
During the sixth BRICS Summit in Fortaleza in 2014.
Where is the New Development Bank headquartered?
Shanghai, China
How does voting work in the New Development Bank?
Each participant country has one vote and no country has veto power.
Which countries were the initial members of the New Development Bank?
- Brazil
- Russia
- India
- China
- South Africa
What new members joined the New Development Bank in 2021?
- Bangladesh
- Egypt
- UAE
What is the capital of the Asian Infrastructure Investment Bank?
$100 billion
Who is the second largest shareholder in the Asian Infrastructure Investment Bank?
India
What is SPFS?
The financial messaging system of the Central Bank of Russia.
Why was Russia banned from using SWIFT?
Due to the Russia-Ukraine War.
What does ECOWAS stand for?
Economic Community of West African States
When was ECOWAS established?
In 1975
What is the headquarters of ECOWAS?
Abuja, Nigeria
What is the aim of ECOWAS?
To promote co-operation and integration leading to an economic union in West Africa.
What is the role of the ECOWAS Community Court of Justice?
To rule on disputes between states over interpretations of the Treaty and fundamental human rights breaches.
What is the Northern Sea Route?
The shortest shipping route for freight transportation between Europe and the Asia-Pacific region.
What is the significance of the Northern Sea Route for India?
It allows for reliable and safe transport of energy resources like crude oil and coal from Russia.
What does BRI stand for?
Belt and Road Initiative