Question

World Bank Group to Invest 2.5 Billion US Dollars in Education Projects benefiting Adolescent Girls. Consider the following statements about the World Bank Group.

Which of the following is/are not correct?

• A. 3 only
• B. 2 and 3 only
• C. 1 and 3 only
• D. None of the above

Answer 1

The correct option is A 3 only

The World Bank is an international financial institution that provides loans to developing countries for capital programs. The World Bank is a component of the World Bank Group, which is part of the United Nations system. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank Group consists of :

• The International Bank for Reconstruction and Development (IBRD), established in 1945, which provides debt financing on the basis of sovereign guarantees;
• The International Finance Corporation (IFC), established in 1956, which provides various forms of financing without sovereign guarantees, primarily to the private sector;
• The International Development Association (IDA), established in 1960, which provides concessional financing (interest-free loans or grants), usually with sovereign guarantees;
• The International Centre for Settlement of Investment Disputes (ICSID), established in 1965, which works with governments to reduce investment risk;

The Multilateral Investment Guarantee Agency (MIGA), established in 1988, which provides insurance against certain types of risk, including political risk, primarily to the private sector.