ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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None below
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To improve the adverse Balance of Payment situation of the nonmember countries
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To reconstruct the economies damaged during the Second World War
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To promote the International Trade
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Detailed explanation-1: -Created in 1944 to help Europe rebuild after World War II, IBRD joins with IDA, our fund for the poorest countries, to form the World Bank. They work closely with all institutions of the World Bank Group and the public and private sectors in developing countries to reduce poverty and build shared prosperity.
Detailed explanation-2: -Founded in 1944, the International Bank for Reconstruction and Development-soon called the World Bank-has expanded to a closely associated group of five development institutions. Originally, its loans helped rebuild countries devastated by World War II.
Detailed explanation-3: -The IMF and the World Bank were created in July 1944 at an international conference in the United States (in Bretton Woods, New Hampshire) that established a framework for economic cooperation aimed at creating a more stable and prosperous global economy.
Detailed explanation-4: -The International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF) were established by delegates at the Bretton Woods Conference in 1944 and became operational in 1946.
Detailed explanation-5: -The World Bank supports investments in countries that underpin long-term growth and that help to meet the needs of their citizens. We work with policy makers to develop markets, institutions, and economies that are stable, equitable, and efficient.