Consider the following statements in respect of the International Bank for Reconstruction and Develo

Question

Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD):It provides loans and guarantees to middle income countries.It works single- handedly to help developing countries to reduce poverty.It was established to help Europe rebuild after the World WarWhich of the statements given above are correct?

Accepted Answer

Statement I is correct: The International Bank for Reconstruction and Development (IBRD) is a global development cooperative owned by 189 member countries. As the largest development bank in the world, it supports the World Bank Group’s mission by providing loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, as well as by coordinating responses to regional and global challenges Statement II is not correct: They work closely with all institutions of the World Bank Group and the public and private sectors in developing countries to reduce poverty and build shared prosperity. Statement III is correct: It was created in 1944 to help Europe rebuild after World War II, IBRD joins with IDA, our fund for the poorest countries, to form the World Bank.