Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD):
I. It provides loans and guarantees to middle income countries.
II. It works single-handedly to help developing countries to reduce poverty.
III. It was established to help Europe rebuild after World War II.
Which of the statements given above are correct?
Answer:
(c)
Easy
Core Books
Core Books/NCERT
Statement I is correct. The IBRD provides loans and guarantees to middle-income and creditworthy low-income countries. It supports development in sectors such as infrastructure, health, education, and governance. Statement II is not correct. The IBRD is one of five institutions within the World Bank Group. It does not work single-handedly but collaborates with the International Development Association (IDA), International Finance Corporation (IFC), and others to achieve development goals. Statement III is correct. The IBRD was established in 1944 during the Bretton Woods Conference, with the primary aim of helping Europe recover economically after World War II.