BANKING AFFAIRS

Detailed explanation-1: -The world’s largest development bank, IBRD provides financial products and policy advice to help countries reduce poverty and extend the benefits of sustainable growth to all of their people.

Detailed explanation-2: -The correct answer is World Bank. The International Bank of Reconstruction and Development (IBRD) is a development bank administered by the World Bank.

Detailed explanation-3: -Together, IBRD and IDA form the World Bank, which provides financing, policy advice, and technical assistance to governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle-income and creditworthy poorer countries.

Detailed explanation-4: -The International Development Association (IDA) provides interest-free loans-called credits-and grants to governments of the poorest countries. Together, IBRD and IDA make up the World Bank.

Detailed explanation-5: -India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis.