GENERAL KNOWLEDGE

Detailed explanation-1: -Established in 1945, IBRD provides loans and development advice to help middle-income countries and creditworthy poorer countries reduce poverty.

Detailed explanation-2: -They are defined as lower middle-income economies-those with a GNI per capita between $1, 036 and $4, 045; and upper middle-income economies-those with a GNI per capita between $4, 046 and $12, 535 (2021). Middle income countries are home to 75% of the world’s population and 62% of the world’s poor.

Detailed explanation-3: -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.