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Consider the following institutions:
1. The Multilateral Investment Guarantee Agency (MIGA)
2. The International Finance Corporation (IFC)
3. The International Development Agency (IDA)
4. The International Centre for Settlement of Investment Disputes (ICSID)
How many of the above institutions have India as a member?
  • a)
    Only one
  • b)
    Only two
  • c)
    Only three
  • d)
    All four
Correct answer is option 'C'. Can you explain this answer?
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Consider the following institutions:1. The Multilateral Investment Gua...
  • The Multilateral Investment Guarantee Agency (MIGA), set up in 1988, encourages foreign investment in developing economies by offering insurance (guarantees) to foreign private investors against losses caused by noncommercial (i.e., political) risks such as currency transfer, expropriation, war and civil disturbance. India became a member of MIGA in January 1994.
  • International Finance Corporation (IFC) was set up in 1956 and is also known as the private arm of the World Bank. It lends money to private sector companies in its member nations. The interest rate charged is commercial but comparatively low. India is one of the founding members of the IFC.
  • The International Development Agency (IDA), also known as the soft window of the World Bank, was set up in 1960 with the basic aim of developing infrastructural support among the member nations and long-term lending for the development of economic services. India is one of the founding members of IDA.
  • The International Bank for Reconstruction and Development (IBRD) is the oldest of the WB institutions that started functioning in 1945 in the area of reconstruction of the war-ravaged regions (World War II) and later for the development of the middle-income and credit-worthy poorer economies of the world. India is one of the founding members of IBRD.
  • The International Centre for Settlement of Investment Disputes (ICSID), set up in 1966, is an investment dispute settlement body whose decisions are binding on the parties. It was established under the 1966 Convention on the Settlement of Investment Disputes between States and Nationals of Other States.
  • India is not a member of ICSID. It is believed that being a signatory to it encourages foreign investment flows into an economy but at risks independent sovereign decisions, too.
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Consider the following institutions:1. The Multilateral Investment Guarantee Agency (MIGA)2. The International Finance Corporation (IFC)3. The International Development Agency (IDA)4. The International Centre for Settlement of Investment Disputes (ICSID)How many of the above institutions have India as a member?a)Only oneb)Only twoc)Only threed)All fourCorrect answer is option 'C'. Can you explain this answer?
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