WAEC 2024 Economics · Question 44
One major achievement of the Eco- nomic Commission for Africa (ECA) is the
Options
- A.setting up of the African Development Bank (AfDB).
- B.provision of long-term loans to non-members.
- C.reduction of balance of payments problems in Africa.
- D.removing the gap between African countries and the rich nations.
Answer: A. setting up of the African Development Bank (AfDB).
Explanation written with AI and checked against the answer key
Analyze the question: It asks for a major achievement of the UN Economic Commission for Africa (ECA), which was established in 1958 by the United Nations Economic and Social Council (ECOSOC) and is headquartered in Addis Ababa, Ethiopia.
Concept: The ECA's role is to promote the economic and social development of African countries, encourage intra-African cooperation and integration, and carry out research and provide technical advice. One of its well-known accomplishments was pushing for and supporting the creation of the African Development Bank (AfDB). The ECA carried out the studies and consultations that led to the AfDB's establishment in 1964.
Evaluate each option:
- A. Setting up of the AfDB. Correct. The ECA played a key role in the idea and the groundwork that led to the AfDB, and this is the achievement most often cited in textbooks.
- B. Provision of long-term loans to non-members. Wrong. The ECA is not a lending institution, and it does not lend to non-members.
- C. Reduction of balance of payments problems in Africa. Wrong. Balance of payments problems remain widespread in Africa, so this is not an achievement of the ECA.
- D. Removing the gap between African countries and the rich nations. Wrong. The development gap still exists, so the ECA has not removed it.
Answer: Option A, the setting up of the African Development Bank (AfDB).
Exam tip: Be careful with options that use absolute words like "removing" or "reduction" of big problems. Such options are usually too sweeping to be true. Also, remember the link: ECA → AfDB (1964), and the ECA is a UN body, while the AfDB is a separate African-owned financial institution.
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