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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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