Which of the following statements is correct?
Statement 01: World Trade Organisation (WTO) was set up in 1995 as the successor to the General Agreement on Trade and Tariffs (GATT) created after the Second World War.
Statement 02: The World Bank was created immediately after the First World War in 1918.
Answer & explanation
Correct answer: option 1
The IMF and the World Bank were created in July 1944 at an international conference in the United States. the World Bank officially began operations in June 1946.