{"id":27825,"date":"2026-08-21T17:34:39","date_gmt":"2026-08-21T12:04:39","guid":{"rendered":"https:\/\/vajiramandravi.com\/upsc-exam\/?p=27825"},"modified":"2026-08-21T17:34:39","modified_gmt":"2026-08-21T12:04:39","slug":"world-bank","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/upsc-exam\/world-bank\/","title":{"rendered":"World Bank, Headquarters, Members, History, Structure, Reports"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The <strong>World Bank<\/strong> is an international financial institution that supports developing countries through loans, concessional finance, grants, technical expertise, data and development knowledge. It works with governments and other partners to finance programmes and projects aimed at improving economic and social outcomes. Its work has evolved from post-war reconstruction towards broader development priorities, including poverty reduction, infrastructure, human capital, climate resilience and sustainable economic growth<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">The term <strong>\"World Bank\"<\/strong> is commonly associated with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), while the broader World Bank Group consists of five institutions with different but complementary mandates.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400\">World Bank About<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank is an international financial institution created to support reconstruction and development. Over time, its focus shifted from post-war reconstruction towards poverty reduction, infrastructure, human development, environmental sustainability, private-sector development, and institutional reforms.<\/span><\/p>\r\n<h3><span style=\"font-weight: 400\">World Bank President<\/span><\/h3>\r\n<p><span style=\"font-weight: 400\">Ajay Banga is the current President of the World Bank Group. He began his five-year term on June 2, 2023, and is the 14th President of the institution.<\/span><\/p>\r\n<h3><span style=\"font-weight: 400\">World Bank Headquarters<\/span><\/h3>\r\n<p><span style=\"font-weight: 400\">The World Bank headquarters is located in Washington, D.C., United States. It serves as the principal headquarters of the World Bank Group, from where its global development operations and institutional activities are coordinated.<\/span><\/p>\r\n<h3><span style=\"font-weight: 400\">World Bank DataBank<\/span><\/h3>\r\n<p><span style=\"font-weight: 400\">The World Bank DataBank is an online research and visualisation tool that gives users access to hundreds of economic, social, demographic, and development indicators sourced from reliable worldwide databases. It enables users to run custom searches, generate charts, compare nations, and download data in various forms.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400\">World Bank Historical Background<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The creation of the World Bank is closely connected with the international economic order created after the Second World War. The <\/span><b>World Bank was established in 1944<\/b><span style=\"font-weight: 400\"> at the <\/span><b>Bretton Woods Conference<\/b><span style=\"font-weight: 400\"> held in Bretton Woods, New Hampshire, United States, along with the <\/span><strong><a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/international-monetary-fund\/\" target=\"_blank\">International Monetary Fund<\/a><\/strong><span style=\"font-weight: 400\">.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Initially known as the International Bank for Reconstruction and Development (IBRD), its primary goal was to help rebuild war-torn countries in Europe following <\/span><a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/world-war-2\/\" target=\"_blank\"><b>World War 2<\/b><\/a><span style=\"font-weight: 400\">.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Over time, its role expanded towards financing infrastructure and supporting developing countries in areas such as agriculture, education, health, poverty reduction and institutional development.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The institution's priorities have continued to change as global development challenges have evolved. Climate change, pandemics, debt sustainability, human capital, digital transformation, fragile states and private-sector-led growth have increasingly become part of its development agenda.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Objectives<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank objectives centre on reducing poverty, promoting inclusive economic development and improving living standards. Its current institutional mission places particular emphasis on ending extreme poverty and increasing shared prosperity while ensuring that development occurs on a liveable planet.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400\">World Bank Members<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank consists of 189 member countries. These countries own the bank and direct its activities. India is a founding member, having entered in 1945. India is not a member of the International Center for Settlement of Investment Disputes (ICSID). While India participates in four other World Bank Group institutions (the IBRD, IDA, IFC, and MIGA), it has chosen not to sign or ratify the ICSID Convention.<\/span><\/p>\r\n<h2><span style=\"font-weight: 400\">World Bank Structure<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank structure consists of different institutions within the World Bank Group, each serving a distinct purpose. This institutional arrangement allows the group to address development financing, private-sector investment, political-risk protection and investment disputes through specialised mechanisms.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>International Bank for Reconstruction and Development (IBRD):<\/b><span style=\"font-weight: 400\"> The IBRD provides loans, guarantees and policy advice primarily to middle-income and creditworthy lower-income countries.\u00a0<\/span>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">It raises much of its financing from international capital markets and supports development programmes and institutional reforms.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n\t<li style=\"font-weight: 400\"><b>International Development Association (IDA):<\/b><span style=\"font-weight: 400\"> The IDA provides concessional financing and grants to the world's poorest and most vulnerable countries.\u00a0<\/span>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Its support is particularly important for countries with limited access to conventional international borrowing.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n\t<li style=\"font-weight: 400\"><b>International Finance Corporation (IFC):<\/b><span style=\"font-weight: 400\"> The IFC focuses on private-sector development in emerging markets. It supports businesses through investment, mobilisation of private capital and advisory services.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Multilateral Investment Guarantee Agency (MIGA):<\/b><span style=\"font-weight: 400\"> MIGA promotes foreign investment in developing countries by providing guarantees against certain political risks.\u00a0<\/span>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">This can encourage investors to undertake projects in economies where political or regulatory risks may otherwise discourage investment.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n\t<li style=\"font-weight: 400\"><b>International Centre for Settlement of Investment Disputes (ICSID)<\/b><span style=\"font-weight: 400\">: ICSID provides facilities for the conciliation and arbitration of international investment disputes between states and investors.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Governance<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank's internal governance is built on a multi-layered system that ensures monitoring, accountability, and strategic direction. It is owned by 189 member countries, who direct its operations through major bodies:<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Board of Governors:<\/b><span style=\"font-weight: 400\"> It is the top decision-making body, with one governor (typically a finance minister or development executive) representing each member country.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Board of Executive Directors: <\/b><span style=\"font-weight: 400\">This 25-member board oversees the Bank's day-to-day operations and votes on loans, policy, and the institution's budget.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Functions<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The functions of the World Bank extend beyond providing loans. It combines development finance with technical knowledge, research, data and policy advice.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Development Financing:<\/b><span style=\"font-weight: 400\"> The World Bank provides financial support for development projects in areas such as infrastructure, health, education, agriculture, urban development and social protection.<\/span>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The World Bank has provided funding for approximately 15,000 development projects through traditional loans, interest-free credits, and grants.<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n\t<li style=\"font-weight: 400\"><b>Technical Assistance:<\/b><span style=\"font-weight: 400\"> It provides governments with technical expertise to improve public institutions, policies, project implementation and service delivery.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Poverty Reduction:<\/b><span style=\"font-weight: 400\"> The institution supports programmes aimed at expanding economic opportunities and improving access to essential services for disadvantaged communities.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Infrastructure Development:<\/b><span style=\"font-weight: 400\"> World Bank financing can support roads, transport systems, electricity, water supply, sanitation and digital infrastructure, depending on country priorities.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Knowledge and Research:<\/b><span style=\"font-weight: 400\"> The World Bank produces economic research, country assessments, statistical datasets and analytical reports that governments and researchers use for policy formulation.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Private-Sector Development:<\/b><span style=\"font-weight: 400\"> Through institutions such as the IFC and MIGA, the wider World Bank Group helps mobilise private investment and support businesses in developing economies.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Funding Mechanism<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank finances development operations through capital contributions from member countries, bond issuance, loan repayments, investment income, and donor contributions. Different institutions within the World Bank Group use different financing models.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>IBRD Funding: <\/b><span style=\"font-weight: 400\">The IBRD lends mainly to middle-income and creditworthy countries. It raises a substantial portion of its funds from international capital markets by issuing highly rated Sustainable Development Bonds.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>IDA Funding: <\/b><span style=\"font-weight: 400\">The IDA relies on contributions from affluent donor member nations every three years. It uses monies recovered from previous zero- or low-interest loans to create new credit.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">Voting Power in World Bank<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">Voting power in the World Bank is linked to a country\u2019s shareholding. Each nation owns shares in the World Bank, which affects its voting power and financial contribution. Larger economies have more sway over decisions because voting rights are closely related to a nation's capital subscription.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Shareholding of the World Bank:<\/b><span style=\"font-weight: 400\"> With 16.41% of the voting power, the United States is the largest stakeholder, followed by Japan, Germany, the United Kingdom, and France. The other member nations share the remaining voting power.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>India\u2019s Shareholding:<\/b><span style=\"font-weight: 400\"> India is gaining importance in the World Bank Group. As of June 2026, India had around 2.95% of IBRD voting power and 3.01% of IDA voting power. 3.95 per cent of IFC voting power and 2.53% of the MIGA voting power.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Reports<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">World Bank reports are an important source of economic and development information for governments, researchers, businesses and international organisations. Important flagship reports are the following:<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Global Economic Prospects:<\/b><span style=\"font-weight: 400\"> Examines macrotrends, predicting changes in the commodity market and slowdowns in global growth.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>The World Development Report:<\/b><span style=\"font-weight: 400\"> It looks at long-standing social and economic problems like standards, labour, and infrastructure.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Human Capital Index (HCI):<\/b><span style=\"font-weight: 400\"> It is a benchmark metric created by the World Bank to measure the amount of human capital a child born today can expect to attain by age 18.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Business Ready (B-READY):<\/b><span style=\"font-weight: 400\"> It evaluates the investment and business environment in international economies. It has replaced the Ease of Doing Business Report.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Country Climate and Development Reports (CCDRs)<\/b><span style=\"font-weight: 400\">: Objectives for individual countries are integrated in Country Climate and Development Reports (CCDRs).<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">India and the World Bank<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">India has been a member of the World Bank since 1944 and has used World Bank support for infrastructure, health, education, rural development, urban services, and climate-related projects.<\/span><\/p>\r\n<ul>\r\n\t<li><b>First Loan: <\/b><span style=\"font-weight: 400\">In 1949, India received its first World Bank loan for the development of the Indian Railways. It was also the World Bank's first loan to an Asian country.<\/span><\/li>\r\n\t<li><b>Current Operation:<\/b><span style=\"font-weight: 400\"> The World Bank's current programme in India involves 75 lending operations totalling around USD 17.8 billion. In FY 2025, the World Bank approved eight projects in India totalling around USD 2.35 billion.<\/span><\/li>\r\n\t<li><b>Projects funded by the World Bank in India:<\/b>\r\n<ul>\r\n\t<li><span style=\"font-weight: 400\">PM Surya Ghar Muft Bijli Yojana<\/span><\/li>\r\n\t<li><span style=\"font-weight: 400\">Skill India Mission (PRISM)<\/span><\/li>\r\n\t<li><span style=\"font-weight: 400\">National Ganga River Basin Project<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Pradhan Mantri Gram Sadak Yojana (PMGSY)<\/span><\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Achievements<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank has played an important role in financing development across Asia, Africa, Latin America, and other regions.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Essential Health Services: <\/b><span style=\"font-weight: 400\">Between FY2012 and FY2025, IDA-supported operations helped 1.36 billion people receive essential health, nutrition and population services.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Poverty Alleviation: <\/b><span style=\"font-weight: 400\">The World Bank has provided critical financial assistance and economic reforms that have helped lift hundreds of millions of people out of extreme poverty.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Education and Human Capital:<\/b><span style=\"font-weight: 400\"> In FY2025, World Bank Group operations supported 325 million students through better education, reflecting its long-standing role in improving access to and quality of education across developing countries.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Social Protection:<\/b><span style=\"font-weight: 400\"> In FY2025 alone, World Bank Group-supported programmes reached 244 million beneficiaries through social safety-net programmes, helping vulnerable populations cope with poverty, economic shocks and crises.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Transportation:<\/b><span style=\"font-weight: 400\"> Improved road, rail, and port infrastructure projects have benefited 142.4 million people, connecting them to jobs and markets.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Recent Developments<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank Group has increasingly focused on jobs, climate action, energy transition, resilient infrastructure, and private-sector mobilisation.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Enhanced IMF\u2013World Bank Climate Cooperation:<\/b><span style=\"font-weight: 400\"> In May 2024, the World Bank and IMF established an Enhanced Cooperation Framework combining expertise, technical assistance, financing, and policy support for country-led climate reforms.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Private Sector Investment Lab Expansion:<\/b><span style=\"font-weight: 400\"> In April 2025, the World Bank expanded its Private Sector Investment Lab to address regulatory uncertainty, guarantees, foreign-exchange risks, equity capital, and emerging-market securitisation.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Pakistan Country Partnership Framework:<\/b><span style=\"font-weight: 400\"> In January 2025, the World Bank launched a 10-year Pakistan partnership framework with an indicative US$20 billion lending envelope, focusing on nutrition, learning, resilience, energy, and investment.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Guarantee Platform:<\/b><span style=\"font-weight: 400\"> The World Bank Group aims to triple annual guarantee issuance to US$20 billion or more by 2030 through MIGA\u2019s integrated platform, simplifying access and mobilising private investment.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>One World Bank Group Knowledge Reform:<\/b><span style=\"font-weight: 400\"> Reported reforms from January 2026 aim to integrate IBRD\/IDA and IFC knowledge functions into five verticals: People, Prosperity, Planet, Infrastructure, and Digital.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Criticisms<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The World Bank faces several challenges and criticisms. These concerns relate to financing conditions, governance, project implementation and the broader development model promoted by international financial institutions.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Conditionality and Policy Concerns:<\/b><span style=\"font-weight: 400\"> World Bank-supported programmes can involve policy reforms and institutional conditions. Critics sometimes argue that such requirements may not sufficiently reflect the economic and social circumstances of individual countries.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Debt Concerns:<\/b><span style=\"font-weight: 400\"> Large development loans can increase financial obligations for borrowing countries. Weak project outcomes or poor fiscal management can make debt repayment more difficult.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Unequal Influence:<\/b><span style=\"font-weight: 400\"> The distribution of voting power and decision-making influence among member countries has generated debates about representation and governance within international financial institutions<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Project Implementation Problems:<\/b><span style=\"font-weight: 400\"> Infrastructure and development projects can face delays because of land acquisition, administrative capacity, procurement difficulties, environmental concerns and coordination problems.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Social and Environmental Concerns<\/b><span style=\"font-weight: 400\">: Large projects can sometimes create environmental or social costs, particularly where communities are displaced or ecosystems are affected. Strong safeguards and stakeholder consultation are therefore important.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Changing Global Development Challenges:<\/b><span style=\"font-weight: 400\"> The World Bank must continuously adapt to challenges such as climate change, <\/span><a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/artificial-intelligence\/\" target=\"_blank\"><span style=\"font-weight: 400\"><strong>artificial intelligence<\/strong><\/span><\/a><span style=\"font-weight: 400\">, pandemics, geopolitical fragmentation, debt stress and <\/span><a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/digital-economy\/\" target=\"_blank\"><span style=\"font-weight: 400\"><strong>digital economy<\/strong><\/span><\/a><span style=\"font-weight: 400\"> inequality.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank Way Forward<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\">The way forward for the World Bank requires greater emphasis on development finance that is inclusive, sustainable, innovative and responsive to the needs of individual countries.<\/span><\/p>\r\n<ul>\r\n\t<li style=\"font-weight: 400\"><b>Strengthen climate finance:<\/b><span style=\"font-weight: 400\"> Increase support for climate adaptation, clean energy and resilient infrastructure.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Improve financing for vulnerable countries:<\/b><span style=\"font-weight: 400\"> Develop mechanisms that provide greater support during economic and climate-related shocks.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Mobilise private capital: <\/b><span style=\"font-weight: 400\">Use guarantees and blended finance to attract greater private investment into development projects.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Enhance institutional reform:<\/b><span style=\"font-weight: 400\"> Strengthen transparency, accountability and implementation capacity.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Focus on human capital:<\/b><span style=\"font-weight: 400\"> Give greater attention to health, education, nutrition, skills and employment.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Expand digital development:<\/b><span style=\"font-weight: 400\"> Support digital infrastructure and inclusive access to technology.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Improve project monitoring:<\/b><span style=\"font-weight: 400\"> Use measurable outcomes, transparent reporting and independent evaluation to improve development effectiveness.<\/span><\/li>\r\n\t<li style=\"font-weight: 400\"><b>Strengthen developing-country representation:<\/b><span style=\"font-weight: 400\"> Continue efforts to make global development institutions more representative of changing economic realities.<\/span><\/li>\r\n<\/ul>\r\n<h2><span style=\"font-weight: 400\">World Bank UPSC PYQs<\/span><\/h2>\r\n<p><span style=\"font-weight: 400\"><strong>Q1.<\/strong> <\/span><span style=\"font-weight: 400\">The World Bank and the IMF, collectively known as the Bretton Woods Institutions, are the two inter-governmental pillars supporting the structure of the world\u2019s economic and financial order. Superficially, the World Bank and the IMF exhibit many common characteristics, yet their role, functions, and mandate are distinctly different. Elucidate. <\/span><b>(UPSC Mains 2013)<\/b><\/p>\r\n<p><span style=\"font-weight: 400\"><strong>Q2.<\/strong>\u00a0Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD): <\/span><b>(UPSC Prelims 2025)<\/b><\/p>\r\n<ol>\r\n\t<li><span style=\"font-weight: 400\"> It provides loans and guarantees to middle income countries.<\/span><\/li>\r\n\t<li><span style=\"font-weight: 400\"> It works single-handedly to help developing countries to reduce poverty.<\/span><\/li>\r\n\t<li>It was established to help Europe rebuild after the World War II.<\/li>\r\n<\/ol>\r\n<p><span style=\"font-weight: 400\">Which of the statements given above are correct?<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">a) I and II only<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">b) II and III only<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">c) I and III only<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">d) I, II and III<\/span><\/p>\r\n<p><strong>Ans: (c)\u00a0<\/strong><\/p>\r\n<p><span style=\"font-weight: 400\"><strong>Q3.<\/strong> Which one of the following is not a sub-index of the World Bank\u2019s \u2018Ease of Doing Business Index\u2019? <\/span><b>(UPSC Prelims 2019)<\/b><\/p>\r\n<p><span style=\"font-weight: 400\">a) Maintenance of law and order<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">b) Paying taxes<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">c) Registering property<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">d) Dealing with construction permits<\/span><\/p>\r\n<p><strong>Ans: (a)\u00a0<\/strong><\/p>\r\n<p><span style=\"font-weight: 400\">Q4. How is the United Nations Monetary and financial Conference wherein the agreements were signed to set up IBRD, GATT and IMF, commonly known? <\/span><b>(UPSC Prelims 2008<\/b><span style=\"font-weight: 400\">)<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">a) Bandung Conference<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">b) Bretton Woods Conference<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">c) Versailles Conference<\/span><\/p>\r\n<p><span style=\"font-weight: 400\">d) Yalta Conference<\/span><\/p>\r\n<p><strong>Ans: (b)<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>The World Bank is an international financial organization that provides development assistance to underdeveloped countries. Check about World Bank, Headquarters, Objectives, Members, Functions, Criticism.<\/p>\n","protected":false},"author":22,"featured_media":27893,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[38,29],"tags":[40,639,1873],"class_list":["post-27825","post","type-post","status-publish","format-standard","has-post-thumbnail","category-upsc-notes","category-upsc-international-relations-and-institutions-notes","tag-quest","tag-upsc-international-relations-and-institutions-notes","tag-world-bank"],"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/posts\/27825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/comments?post=27825"}],"version-history":[{"count":4,"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/posts\/27825\/revisions"}],"predecessor-version":[{"id":27908,"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/posts\/27825\/revisions\/27908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/media\/27893"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/media?parent=27825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/categories?post=27825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/upsc-exam\/wp-json\/wp\/v2\/tags?post=27825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}