1. It provides loans and guarantees to middle income countries.
2. It works single-handedly to help developing countries to reduce poverty.
3. It was established to help Europe rebuild after World War II.
Which of the statements given above are correct?
Explanation
The International Bank for Reconstruction and Development (IBRD) is a global development cooperative owned by 189 member countries. As the largest development bank in the world, it supports the World Bank Group’s mission by providing loans, guarantees, risk management products, and advisory services to middle-income and creditworthy low-income countries, as well as by coordinating responses to regional and global challenges.
Statement 1 is correct: The International Bank for Reconstruction and Development (IBRD) provides loans, guarantees, and advisory services to middle-income and creditworthy low-income countries.
Statement 2 is incorrect: The International Bank for Reconstruction and Development (IBRD) is part of the World Bank Group and works in coordination with other institutions (like IDA), governments, and partners; IBRD does not work alone. IBRD works closely with all institutions of the World Bank Group and the public and private sectors in developing countries to reduce poverty and build shared prosperity.
Statement 3 is correct: The IBRD was created in 1944 with the initial mission of financing the reconstruction of European nations after World War II.
For S2, the word "single-handedly " is way too extreme to be true for such a large task. Hence S2 likely false, giving option C as correct.