Exp) Option c is the correct answer.

The International Bank for Reconstruction and Development (IBRD) is a global development cooperative owned by 189 member countries and is also the largest development bank in the world

Statement I is correct: The IBRD primarily lends to middle-income countries and some creditworthy low-income countries.

It offers financial products such as loans, guarantees, risk management products, and advisory services to support development programs, infrastructure projects, and economic reforms. The goal is to reduce poverty and promote sustainable development in these countries.

Statement II is incorrect: The IBRD is not the only institution working on poverty reduction. It is one of five institutions that make up the World Bank Group, which includes:

• IDA (International Development Association) – for the poorest countries
• IFC (International Finance Corporation) – for private sector development
• MIGA (Multilateral Investment Guarantee Agency) – for political risk insurance
• ICSID (International Centre for Settlement of Investment Disputes) – for arbitration

Together, these institutions work collaboratively, not “single-handedly,” to reduce poverty and promote development.

Statement III is correct: The IBRD was indeed established in 1944 at the Bretton Woods Conference with the primary goal of financing the reconstruction of European nations devastated by World War II. After the post-war reconstruction, its mandate expanded to global economic development and poverty eradication.

Source: https://www.worldbank.org/en/who-we-are/ibrd