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Consider the following statements:
1. The World Bank was created in 1944, as the International Bank for Reconstruction and Development (IBRD).
2. The World Development Report is released by the World Bank.
Which of the statements given above is/are 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?
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Verified Answer
Consider the following statements:1. The World Bank was created in 194...
World Bank
- About:
- It was created in 1944, as the International Bank for Reconstruction and Development (IBRD) along with the International Monetary Fund (IMF). The IBRD later became the World Bank. Hence statement 1 is correct.
- The World Bank Group is a unique global partnership of five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
- Members:
- It has 189 member countries.
- India is also a member country.
- Major reports:
- Ease of Doing Business (Stopped publishing recently).
- Human Capital Index.
- World Development Report.
- Hence, statement 2 is correct.
- Its Five development institutions:
- International Bank for Reconstruction and Development (IBRD)
- International Development Association (IDA)
- International Finance Corporation (IFC).
- Multilateral Guarantee Agency (MIGA)
- International Centre for the Settlement of Investment Disputes (ICSID)
- India is not a member of this.
Most Upvoted Answer
Consider the following statements:1. The World Bank was created in 194...
Explanation:
1. The World Bank was created in 1944, as the International Bank for Reconstruction and Development (IBRD)
- This statement is correct. The World Bank was established in 1944 during the Bretton Woods Conference, along with the International Monetary Fund (IMF). Initially, it was known as the International Bank for Reconstruction and Development (IBRD) and aimed to provide financial and technical assistance for the reconstruction of war-torn Europe after World War II.
2. The World Development Report is released by the World Bank
- This statement is also correct. The World Development Report is an annual publication of the World Bank that focuses on a specific theme related to development. It provides in-depth analysis and policy recommendations to address global development challenges.
Therefore, both statements are correct. The World Bank was indeed created in 1944 as the IBRD, and it releases the World Development Report annually.
1. The World Bank was created in 1944, as the International Bank for Reconstruction and Development (IBRD)
- This statement is correct. The World Bank was established in 1944 during the Bretton Woods Conference, along with the International Monetary Fund (IMF). Initially, it was known as the International Bank for Reconstruction and Development (IBRD) and aimed to provide financial and technical assistance for the reconstruction of war-torn Europe after World War II.
2. The World Development Report is released by the World Bank
- This statement is also correct. The World Development Report is an annual publication of the World Bank that focuses on a specific theme related to development. It provides in-depth analysis and policy recommendations to address global development challenges.
Therefore, both statements are correct. The World Bank was indeed created in 1944 as the IBRD, and it releases the World Development Report annually.
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Consider the following statements:1. The World Bank was created in 1944, as the International Bank for Reconstruction and Development (IBRD).2. The World Development Report is released by the World Bank.Which of the statements given above is/are 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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