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The World Bank consists of two main institutions: the International Bank for Reconstruction and Development (IBRD) and the ____________.
- a)World Trade Organization
- b)International Finance Corporation (IFC)
- c)United Nations Development Programme (UNDP)
- d)International Labour Organization (ILO)
Correct answer is option 'B'. Can you explain this answer?
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The World Bank consists of two main institutions: the International Ba...
The World Bank consists of two main institutions: the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC). While IBRD focuses on providing loans and financial assistance for development projects, IFC promotes private sector investment in developing countries to foster economic growth and reduce poverty.
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The World Bank consists of two main institutions: the International Ba...
The Structure of the World Bank
The World Bank is a vital financial institution that plays a significant role in global economic development. It primarily consists of two main institutions:
Other Options Explained
Conclusion
In summary, the International Finance Corporation (IFC) is a key institution of the World Bank, aimed at enhancing private sector investment in developing countries. Understanding the distinct roles of these organizations is crucial for anyone preparing for bank exams or interested in global economic governance.
The World Bank is a vital financial institution that plays a significant role in global economic development. It primarily consists of two main institutions:
- International Bank for Reconstruction and Development (IBRD): This institution focuses on providing loans and financial assistance to middle-income and creditworthy low-income countries. It aims to reduce poverty and support sustainable development by funding infrastructure projects, education, health, and more.
- International Finance Corporation (IFC): This is the correct answer. The IFC specializes in supporting private sector development in developing countries. It provides investment, advice, and financial services to encourage private sector growth, which is essential for fostering economic development and reducing poverty.
Other Options Explained
- World Trade Organization (WTO): This organization is focused on regulating international trade and does not fall under the World Bank's structure.
- United Nations Development Programme (UNDP): While it works towards global development and poverty reduction, it is a separate entity from the World Bank and operates under the United Nations.
- International Labour Organization (ILO): This agency is dedicated to promoting social justice and fair labor practices, but it is also not affiliated with the World Bank.
Conclusion
In summary, the International Finance Corporation (IFC) is a key institution of the World Bank, aimed at enhancing private sector investment in developing countries. Understanding the distinct roles of these organizations is crucial for anyone preparing for bank exams or interested in global economic governance.
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The World Bank consists of two main institutions: the International Bank for Reconstruction and Development (IBRD) and the ____________.a)World Trade Organizationb)International Finance Corporation (IFC)c)United Nations Development Programme (UNDP)d)International Labour Organization (ILO)Correct answer is option 'B'. Can you explain this answer?
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