WBCS.LIVE practice question

The institution commonly known as the "World Bank" is primarily composed of which two foundational entities?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. IBRD and IDA
  2. IFC and MIGA
  3. IBRD and IFC
  4. IDA and ICSID

Correct answer and explanation

Correct answer: IBRD and IDA

Explanation: āœ… Correct Answer: A) IBRD and IDA šŸ“š Explanation: The World Bank Group is a massive multilateral development organization, but the specific entity known as the "World Bank" comprises exactly two foundational institutions. These are the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Together, they focus heavily on middle-income and creditworthy poorer countries, as well as the absolute poorest nations, respectively.