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

Correct Answer:

Option C – provide loans to members to finance viable projects

Explanation

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.