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| Which of the following statement is NOT correct about the World Bank? |
It was instituted as the International Bank for Reconstruction and Development in 1948. World bank along with the United Nations were dubbed as Bretton Woods Twins. It was started in order to aid the economies of various nations which had decolonalized subsequent to world war II. All of the above |
| All of the above |
| The World Bank was instituted as the International Bank for Reconstruction and Development (IBRD-the World Bank) and along with the IMF were dubbed the Bretton Woods Twins in 1944. These two sister institutions were started in order to aid the economies of various nations which had suffered immense losses subsequent to the Second World War. The World Bank aids member states by providing loans to member states for the purpose development and raises its funds by way of the world's financial markets |
