Q. Consider the following statements regarding “International Bank for Reconstruction & Development”:
1.It is the largest development bank in the world.
2.It acquires most of its capital by borrowing on international capital markets through bond issues.
Which of the statements given above is/are correct?
Answer: C
Notes:
Explanation: IBRD is a global development cooperative owned by 189-member countries and it is the largest development bank in the world.
- It is headquartered in Washington, D.C. It was established in 1944 to finance the reconstruction of European nations devastated by World War II.
- The Bank’s members governments are shareholders which contribute paid in capital and have the right to vote on its matters.
- In addition to these contributions, the IBRD acquires most of its capital by borrowing on international capital markets through bond issues.
Source: FORUMIAS
