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“Rapid Financing Instrument” and “Rapid Credit Facility” are related to the provisions of lending by which one of the following

“Rapid Financing Instrument” and “Rapid Credit Facility” are related to the provisions of lending by which one of the following?

(a)

Asian Development Bank

(b)

International Monetary Fund

(c)

United Nations Environment Programme Finance Initiative

(d)

World Bank

Answer:

(b)

Application Based

Core Books/NCERT

Explanation

Rapid Financing Instrument (RFI) is available to all member countries of the International Monetary Fund (IMF) to provide rapid and low-access financial assistance to member countries facing an urgent balance of payments (BoP). This was in news due to Sri Lanka’s financial crisis.