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Q62 World Bank Group constitutes which of the following organizations?

1. Multilateral Investment Guarantee Agency.

2. International Centre for the Settlement of Investment Disputes.

3. International Monetary Fund.

4. International Finance Corporation

5. International Development Association.

Select the correct code:


  1. (a) Only 1, 2, 3 and 5

  2. (b) Only 1, 2, 4 and 5

  3. (c) Only 2, 4 and 5

  4. (d) All of the above


Solution

The correct option is B

(b) Only 1, 2, 4 and 5


World Bank and International Monetary Fund (IMF) were established in Dec. 1945 on the recommendation of Bretton Wood Conference hence called as Bretton Wood twins.  The World Bank is the largest and most famous development bank and is a family of five international organization that make leveraged loans to developing countries. The bank is based in Washington D.C.

Five constituents of World Bank are:-

1. IBRD:-International Bank for Reconstruction and Development.

2. IFC:-International Finance corporation

3. IDA:-International Development Association

4. MIGA-Multilateral Investment Guarantee Agency

5. ICSID-International Centre for the Settlement of Investment Disputes. India is a member of first four constituents of World Bank

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