Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD): I. It provides loans and guarantees to middle income countries. II. It works single-handedly to help developing countries to reduce poverty. III. It was established to help Europe rebuild after the World War II. Which of the statements given above are correct?
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A hard Economy multiple-choice question from UPSC Prelims 2025. Attempt it above, then check the correct answer and detailed explanation below.
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Correct answer: C. I and III only
Statements I and III are correct — the IBRD lends to middle-income (and creditworthy low-income) countries and was originally established to help rebuild post-war Europe. Statement II is wrong — it works alongside other World Bank Group institutions, not single-handedly.
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