Multiple choice

Which of the following constitute the World Bank Group?

  1. International Bank for Reconstruction and Development
  2. International Finance Corporation
  3. International Development Association
  4. International Monetary Fund

  1. 1, 2 and 3

  2. 1 and 2

  3. 3 and 4

  4. 1, 2, 3 and 4
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A Correct answer
Explanation

World Bank is made up of two development institutions owned by 187 member countries - International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). IBRD aims to reduce poverty in middle-income and creditworthy poor countries, while IDA focuses on world’s poorest countries. Their work is complemented by International Centre for the Settlement of Investment Disputes (ICSID). IFC and MIGA are another two institutions which are a part of the World Bank Group.

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