Question 372022EconomicsWAEC

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 payments problems

C

provide loans to members to finance viable projects

D

help members overcome their internal problems

Step-by-Step Explanation

The African Development Bank (AfDB) primarily focuses on providing financial assistance to its member countries for the development of viable projects that promote economic growth and reduce poverty. By financing projects in sectors such as infrastructure, agriculture, and health, the AfDB aims to enhance the overall development and stability of African economies. This support is crucial for enabling member countries to achieve sustainable development goals and improve living standards.

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