Which of the following constitute the World Bank? 1. International Bank for Reconstruction and Development
Which of the following constitute the World Bank?
1. International Bank for Reconstruction and Development
2. International Finance Corporation 3. International Development Association
4. International Monetary Fund Codes:
(a) 1, 2 and 3 (b) 1 and 2 (c) 3 and 4 (d) 1, 2, 3 and 4
1 Answers
(a) World Bank is made up of two development institutions owned by 187 member countries: International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA). IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses on world’s poorest countries. Their work is complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and International Centre for the Settlement of Investment Disputes (ICSID). There is a difference between the World Bank and the World Bank Group.