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Which organization is popularly called the “World Bank”?
- a)International Monetary Fund
- b)International Bank of Reconstruction and Development
- c)International Development Agency
- d)International Finance Corporation
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Which organization is popularly called the “World Bank”?a)...
The World Bank
The organization popularly called the "World Bank" is the International Bank for Reconstruction and Development (IBRD). Here is a detailed explanation of the answer:
1. International Bank for Reconstruction and Development (IBRD):
- The IBRD is a specialized agency of the United Nations that was established in 1944.
- It is one of the five institutions that make up the World Bank Group.
- The IBRD provides loans and financial assistance to middle-income and creditworthy low-income countries for development projects.
- Its primary goal is to reduce poverty and promote sustainable economic growth in member countries.
2. Other Institutions of the World Bank Group:
- The International Monetary Fund (IMF) is a separate organization and not the "World Bank."
- The IMF focuses on promoting global economic stability and providing financial assistance to countries facing balance of payments problems.
- The International Development Association (IDA) is another institution of the World Bank Group that provides grants and low-interest loans to the world's poorest countries.
- The International Finance Corporation (IFC) is also part of the World Bank Group and supports private sector investment in developing countries.
3. Conclusion:
In conclusion, the organization popularly known as the "World Bank" is the International Bank for Reconstruction and Development (IBRD). It plays a crucial role in providing financial assistance and loans for development projects in middle-income and creditworthy low-income countries.
The organization popularly called the "World Bank" is the International Bank for Reconstruction and Development (IBRD). Here is a detailed explanation of the answer:
1. International Bank for Reconstruction and Development (IBRD):
- The IBRD is a specialized agency of the United Nations that was established in 1944.
- It is one of the five institutions that make up the World Bank Group.
- The IBRD provides loans and financial assistance to middle-income and creditworthy low-income countries for development projects.
- Its primary goal is to reduce poverty and promote sustainable economic growth in member countries.
2. Other Institutions of the World Bank Group:
- The International Monetary Fund (IMF) is a separate organization and not the "World Bank."
- The IMF focuses on promoting global economic stability and providing financial assistance to countries facing balance of payments problems.
- The International Development Association (IDA) is another institution of the World Bank Group that provides grants and low-interest loans to the world's poorest countries.
- The International Finance Corporation (IFC) is also part of the World Bank Group and supports private sector investment in developing countries.
3. Conclusion:
In conclusion, the organization popularly known as the "World Bank" is the International Bank for Reconstruction and Development (IBRD). It plays a crucial role in providing financial assistance and loans for development projects in middle-income and creditworthy low-income countries.
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Which organization is popularly called the “World Bank”?a)International Monetary Fundb)International Bank of Reconstruction and Developmentc)International Development Agencyd)International Finance CorporationCorrect answer is option 'B'. Can you explain this answer?
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