Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD) : I. It provides loans and guarantees to middle income countries. II. It works single-handedly to help developing countries to reduce poverty. III. It was established to help Europe rebuild after the World War II. Which of the statements given above are correct?
- AI and II only
- BII and III only
- CI and III onlyCorrect
- DI, II and III
Explanation
Analyzing statements about the International Bank for Reconstruction and Development (IBRD):
I. Provides loans and guarantees to middle income countries: Correct. IBRD primarily focuses on lending to middle-income and creditworthy low-income countries, providing loans and guarantees for development projects.
II. Works single-handedly to help developing countries reduce poverty: Incorrect. IBRD does not work single-handedly; it works as part of the World Bank Group and collaborates with numerous international organizations, governments, NGOs, and private sector partners in poverty reduction efforts.
III. Established to help Europe rebuild after World War II: Correct. IBRD was established in 1944 as part of the Bretton Woods system, with its original mission being to help reconstruct Europe after World War II, before expanding to global development work.
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