Consider the following International institutions
1. International development association
2. International finance corporation
3. International centre for settlement of investment disputes
Which of the following is/are not the organs of World Bank Group?
3 only
2 and 3 only
1 and 3 only
None of the above
Explanation:
The World Bank is an international financial institution that provides loans to developing countries for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD. , and the International Development Association (IDA). The World Bank is a component of the World Bank Group, which is part of the United Nations system.
The World Bank Group consists of
The International Bank for Reconstruction and Development (IBRD. , established in 1945, which provides debt financing on the basis of sovereign guarantees;
The International Finance Corporation (IFC. , established in 1956, which provides various forms of financing without sovereign guarantees, primarily to the private sector;
The International Development Association (IDA), established in 1960, which provides concessional financing (interest-free loans or grants), usually with sovereign guarantees;
The International Centre for Settlement of Investment Disputes (ICSID. , established in 1965, which works with governments to reduce investment risk;
The Multilateral Investment Guarantee Agency (MIGA), established in 1988, which provides insurance against certain types of risk, including political risk, primarily to the private sector.
The World Bank is an international financial institution that provides loans to developing countries for capital programs. It comprises two institutions: the International Bank for Reconstruction and Development (IBRD. , and the International Development Association (IDA). The World Bank is a component of the World Bank Group, which is part of the United Nations system.
The World Bank Group consists of
The International Bank for Reconstruction and Development (IBRD. , established in 1945, which provides debt financing on the basis of sovereign guarantees;
The International Finance Corporation (IFC. , established in 1956, which provides various forms of financing without sovereign guarantees, primarily to the private sector;
The International Development Association (IDA), established in 1960, which provides concessional financing (interest-free loans or grants), usually with sovereign guarantees;
The International Centre for Settlement of Investment Disputes (ICSID. , established in 1965, which works with governments to reduce investment risk;
The Multilateral Investment Guarantee Agency (MIGA), established in 1988, which provides insurance against certain types of risk, including political risk, primarily to the private sector.