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Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD):
I. It provides loans and guarantees to middle income countries.
II. It works single-handedly to help developing countries to reduce poverty.
III. It was established to help Europe rebuild after the World War II.
Which of the statements given above are correct?
I and II only
II and III only
I and III only
I, II and III
- Statement I
- Correct. The IBRD provides loans and guarantees to middle-income and creditworthy low-income countries to help them develop their economies.
- Statement II
- Incorrect. The IBRD does not work single-handedly. It is part of the World Bank Group, collaborating with other organizations and entities to reduce poverty.
- Statement III
- Correct. The IBRD was established to help Europe rebuild after World War II, and its role has since expanded to promoting global development.
- Correct Answer: Option 3, I and III only
By: Heena ProfileResourcesReport error
Kritika Batra
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