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Option 3 : Both 1 and 2
The correct answer is Both 1 and 2.
- The World Bank Group (WBG) consists of five organizations -
- International Bank for Reconstruction and Development (IBRD)
- International Development Association (IDA)
- International Finance Corporation (IFC) (Hence statement 1 is correct)
- Multilateral Investment Guarantee Agency (MIGA)
- International Centre for Settlement of Investment Disputes (ICSID)
- IFC Masala Bonds:
- The first Masala bond was issued by IFC in 2014 for the infrastructure projects in India.
- They are the rupee-denominated bonds issued to offshore investors and are a source of debt financing for the public and private sectors. (Hence statement 2 is correct)
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