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Consider the following statements about International Finance Corporation (IFC):
- It is a sister organization of the International Monetary Fund.
- It is the largest global development institution focused exclusively on the private sector in developing countries.
- Its goals are to increase sustainable agriculture opportunities, improve healthcare and education.
How many of the above statements are correct?
- a)Only one
- b)Only two
- c)All three
- d)None
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements about International Finance Corporat...
Explanation:
International Finance Corporation (IFC)
Statement 1: It is a sister organization of the International Monetary Fund.
- This statement is incorrect. IFC is a member of the World Bank Group, not a sister organization of the International Monetary Fund.
Statement 2: It is the largest global development institution focused exclusively on the private sector in developing countries.
- This statement is correct. IFC is indeed the largest global development institution that focuses exclusively on the private sector in developing countries.
Statement 3: Its goals are to increase sustainable agriculture opportunities, improve healthcare and education.
- This statement is incorrect. While IFC does support various sectors including agriculture, healthcare, and education, its primary goal is to promote private sector development in developing countries by providing investment and advisory services to businesses.
Therefore, only statement 2 is correct, making the correct answer option 'B' - Only two.
International Finance Corporation (IFC)
Statement 1: It is a sister organization of the International Monetary Fund.
- This statement is incorrect. IFC is a member of the World Bank Group, not a sister organization of the International Monetary Fund.
Statement 2: It is the largest global development institution focused exclusively on the private sector in developing countries.
- This statement is correct. IFC is indeed the largest global development institution that focuses exclusively on the private sector in developing countries.
Statement 3: Its goals are to increase sustainable agriculture opportunities, improve healthcare and education.
- This statement is incorrect. While IFC does support various sectors including agriculture, healthcare, and education, its primary goal is to promote private sector development in developing countries by providing investment and advisory services to businesses.
Therefore, only statement 2 is correct, making the correct answer option 'B' - Only two.
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Community Answer
Consider the following statements about International Finance Corporat...
- IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused exclusively on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.
- The IFC is owned and governed by its member countries, but has its own executive leadership and staff that conduct its normal business operations.
- It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.
- Functions:
- It offers an array of debt and equity financing services and helps companies face their risk exposures, while refraining from participating in a management capacity.
- The corporation also offers advice to companies on making decisions, evaluating their impact on the environment and society, and being responsible.
- It advises governments on building infrastructure and partnerships to further support private sector development.
- Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve healthcare and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
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Consider the following statements about International Finance Corporation (IFC): It is a sister organization of the International Monetary Fund. It is the largest global development institution focused exclusively on the private sector in developing countries. Its goals are to increase sustainable agriculture opportunities, improve healthcare and education.How many of the above statements are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?
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