GENERAL KNOWLEDGE

Detailed explanation-1: -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-2: -July 1944. A new international monetary system was forged by delegates from forty-four nations in Bretton Woods, New Hampshire, in July 1944. Delegates to the conference agreed to establish the International Monetary Fund and what became the World Bank Group.

Detailed explanation-3: -The Bretton Woods Conference, officially known as the United Nations Monetary and Financial Conference, was a gathering of delegates from 44 nations that met from July 1 to 22, 1944 in Bretton Woods, New Hampshire, to agree upon a series of new rules for the post-WWII international monetary system.

Detailed explanation-4: -The IMF was established in 1944 in the aftermath of the Great Depression of the 1930s. 44 founding member countries sought to build a framework for international economic cooperation. Today, its membership embraces 190 countries, with staff drawn from 150 nations.