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With reference to the International Bank for Reconstruction and Development, consider the following statements:
1. It was established to help rebuild Europe after World War II.
2. It joins with the International Development Association to form the World Bank.
Which of the statements given above is/are not correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the International Bank for Reconstruction and Develo...
In News: Recently, the International Bank for Reconstruction and Development (IBRD) has sanctioned funds to the tune of Rs. 1,860 crore for implementation of Supporting Andhra's Learning Transformation (SALT) programme.
Statement 1 is correct: IBRD is an international financial institution and was established in 1944 to help Europe rebuild after World War II. It is owned by 189 member countries and is the largest development bank in the world.
Statement 2 is correct: It is the lending arm of the World Bank Group. It joins with the International Development Association (IDA) to form the World Bank. It offers loans to middleincome developing countries.
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With reference to the International Bank for Reconstruction and Development, consider the following statements:1. It was established to help rebuild Europe after World War II.2. It joins with the International Development Association to form the World Bank.Which of the statements given above is/are not correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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