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    Question

    Recently, the Government of India, the Government of

    West Bengal and the World Bank signed a $105 million project to improve the inland water transport infrastructure in Kolkata. Which of the following objective doesn’t belong to the World Bank Group?
    A It provides loans, credits, and grants Correct Answer Incorrect Answer
    B It provides low- or no-interest loans to low-income countries Correct Answer Incorrect Answer
    C It insures lenders and investors against political risk such as war. Correct Answer Incorrect Answer
    D It settles investment-disputes between investors and countries Correct Answer Incorrect Answer
    E It settles Trade related disputes between its member countries. Correct Answer Incorrect Answer

    Solution

    The Bretton Woods Conference, officially known as the United Nations Monetary and Financial Conference, was a gathering of delegates from 44 nations that met from July 1 to 22, 1944 in Bretton Woods, New Hampshire (USA), to agree upon a series of new rules for international financial and monetary order after the conclusion of World War II. With 189 member countries, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group consists of five development institutions- International Bank for Reconstruction and Development (IBRD) provides loans, credits, and grants. International Development Association (IDA) provides low- or no-interest loans to low-income countries. The International Finance Corporation (IFC) provides investment, advice, and asset management to companies and governments. The Multilateral Guarantee Agency (MIGA) insures lenders and investors against political risk such as war. The International Centre for the Settlement of Investment Disputes (ICSID) settles investment-disputes between investors and countries.

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