General perception is the World Bank means IBRD only, but official website says its IBRD and IDA both. Founded in 1944, the International Bank for Reconstruction and Development—soon called the World Bank—has expanded to a closely associated group of five development institutions. Originally, its loans helped rebuild countries devastated by World War II. In time, the focus shifted from reconstruction to development, with a heavy emphasis on infrastructure such as dams, electrical grids, irrigation systems, and roads. With the founding of the International Finance Corporation in 1956, the institution became able to lend to private companies and financial institutions in developing countries. And the founding of the International Development Association in 1960 put greater emphasis on the poorest countries, part of a steady shift toward the eradication of poverty becoming the Bank Group’s primary goal. The subsequent launch of the International Centre for Settlement of Investment Disputes and the Multilateral Investment Guarantee Agency further rounded out the Bank Group’s ability to connect global financial resources to the needs of developing countries.
John Robinson has given the concept of
Conrad Kongkal Sangma, the 12th and current Chief Minister of Meghalaya belongs to which political party?
Who among the following said “a program of protection provided by Society against the contingencies of modern life sickness, unemployment, old age, de...
What term is used to describe inflation caused by an increase in the cost of production inputs?
Given below are two statements, one is labelled as Assertion (A) and the other as Reason (R):
Assertion (A): Monetary policy has an indirect effe...
A sum of money paid regularly (typically annually) by a company to its shareholders out of its profits is called as?
Which of the following is correct regarding Giffen goods?
____provides a mutually acceptable solution between both the disputing parties and brings about speedy settlement of disputes without resorting to strik...
The main determinant of real wage is:
During which Five Year Planning was NABARD established?