1. International Development Association ( IDA) is one of the subsidiaries of World Bank. What was the purpose of setting IDA?

1. For legal dispute resolution and conciliation between international investors and States.
2. To offer investment, advisory, and asset-management services to encourage private-sector development in less developed countries
3. To provide political risk insurance and credit enhancement for cross-border private sector investors and lenders.
4. To provide financial products and policy advice to help countries reduce poverty and extend the benefits of sustainable growth to all of their people.
5. To reduce poverty by providing zero to low-interest loans and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.

Option “5” is correct.
· The International Development Association (IDA) is the part of the World Bank that helps the world’s poorest countries.
· It was established in 1960.
· It aims to reduce poverty by providing zero to low-interest loans and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.
· Headquarters: Washington, D.C., U.S.
· Chief Executive Officer: Kristalina Georgieva
2. Kristalina Georgieva is the current CEO of International Development Association ( IDA). She hails from which country?

1. Brazil
2. Bulgaria
3. USA
4. Russia
5. Australia

Option “2” is correct.
· The International Development Association (IDA) is the part of the World Bank that helps the world’s poorest countries.
· It was established in 1960.
· It aims to reduce poverty by providing zero to low-interest loans and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.
· Headquarters: Washington, D.C., U.S.
· Chief Executive Officer: Kristalina Georgieva (Bulgaria)
3. In Jan 2022, Former RBI Governor Urjit Patel was appointed as a Vice President of the Beijing-based multilateral funding institution AIIB, Which of the following statement is/are true regarding AIIB?

(A) It is headquartered in Beijing.
(B) It began its operations in January 2016.
(C) It consists of 105 Member States.

1. Only (i)
2. Only (ii)
3. Only (i) & (iii)
4. Only (i) & (ii)
5. All (i), (ii) & (iii)

Option “5” is correct.
About AIIB-
· The Asian Infrastructure Investment Bank is a multilateral development bank that aims to improve economic and social outcomes in Asia.
· Headquarters: Beijing, China
· Members: 105
· Formation: 16 January 2016
4. Identify the correct statement regarding AIIB-

1. India is a founding member of AIIB.
2. Its initial total capital is USD 150 billion.
3. India is the second-largest shareholder in Asian Infrastructure Investment bank.
4. Only (a) & (b)
5. Only (a) & (c)

Option “5” is correct.
· India is a founding member of AIIB.
· The AIIB’s initial total capital is USD 100 billion divided into 1 million shares of 100 000 dollars each, with 20% paid-in and 80% callable.
· China is the largest contributor to the Bank.
· India is the second-largest shareholder.
About AIIB-
· The Asian Infrastructure Investment Bank is a multilateral development bank that aims to improve economic and social outcomes in Asia.
· Headquarters: Beijing, China
· Members: 105
· Formation: 16 January 2016
5. Which of the following Report is issued by IMF?

(A) World Economic Outlook
(B) Global Financial Stability Report
(C) Fiscal Monitor

1. Only (i)
2. Only (ii)
3. Only (i) & (iii)
4. Only (i) & (ii)
5. All (i), (ii) & (iii)

Option “5” is correct.
Report is issued by IMF-
(A) World Economic Outlook – This report shows that the global economic recovery continues amid a resurging pandemic that poses unique policy challenges and requires strong multilateral effort.
(B) Global Financial Stability Report – It is a semiannual report by the International Monetary Fund (IMF) that assesses the stability of global financial markets and emerging-market financing.
(C) Fiscal Monitor- The Fiscal Monitor is prepared twice a year by the IMF’s Fiscal Affairs Department. Its projections are based on the same database used for the World Economic Outlook (WEO) and the Global Financial Stability Report (GFSR). The fiscal projections for individual countries have been prepared by IMF desk economists, and, in line with the WEO guidelines, assume that announced policies will be implemented.
6. Identify the name of the organization from the following data-
It consists of 190 member countries. Its primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries and their citizens to transact with each other. It was established in 1944.1. World Bank
2. International Monetary Fund
3. Asian Development Bank
4. New Development Bank
5. Asian Infrastructure investment Bank
Option “2” is correct.
IMF Facts-
· Member Countries- 190
· Established- 1944
· Amount available for lending- $1trillion
· 24 Executive Directors representing 190 countries.
· India is a founding member of the IMF.
· The International Monetary Fund (IMF) works to achieve sustainable growth and prosperity for all of its 190 member countries.
· MD- Kristalina Georgieva
7. In March 2022, India and World Bank inks US$125 million loan to support access to Social Protection Services in West Bengal. Identify which of the following statement is/are true regarding World Bank (WB)?

(i) The Headquarters of WB are located in Washington, D.C., United States.
(ii) David R. Malpass was selected as 11th President of the World Bank Group.
(iii) WB consists of 189 Members.

1. Only (i)
2. Only (ii)
3. Only (i) & (iii)
4. Only (i) & (ii)
5. All (i), (ii) & (iii)

Option “3” is correct.
The World Bank has signed a $125 million loan agreement with the Government of India and the Government of West Bengal to support efforts in giving access to social protection services to poor and vulnerable groups in the state.
About World Bank (WB)-
· The Headquarters of WB are located in Washington, D.C., United States.
· David R. Malpass was selected as 13th President of the World Bank Group.
· It consists of 189 Members.
· It was Founded in July 1944.
· Motto: Working for a World Free of Poverty.
· It is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.
8. The loan for the project titled West Bengal Building State Capability for Inclusive Social
Protection Project, will be extended through IBRD. Which of the following is other subsidiary of World Bank?

1. International Development Association (IDA)
2. International Finance Corporation (IFC)
3. Multilateral Investment Guarantee Agency (MIGA)
4. International Centre for Settlement of Investment Disputes (ICSID)
5. All of the above

Option “5” is correct.
The loan for the project titled West Bengal Building State Capability for Inclusive Social Protection Project, will be extended through IBRD.
World Bank has 5 Subsidiaries, these are as follows –
1. International Bank for Reconstruction (IBRD)
· Headquarters: Washington, D.C., U.S.
· Purpose: Development assistance, poverty reduction
· Founded: 1944
· Members: 189 Countries
2. International Finance Corporation ( IFC)
· Headquarters: Washington, D.C., U.S.
· Purpose: Private sector development, Poverty reduction
· Founded: 20 July 1956
· Members: 185 countries
9. World Bank consists of 189 Members, which is of the following is the 189th member of the world bank?

1. Vatican City
2. Monaco
3. Nauru
4. Tuvalu
5. San Marino

Option “3” is correct.
· World Bank consists of 189 countries.
· Tiny South Pacific island nation Nauru became the 189th member of the International Monetary Fund (IMF) and the World Bank in April 2016.
· The island country gained access to financial support, technical support and special expertise to deal with Pacific area issues, such as water and sanitation and disaster risk management amid the threat of climate change and rising sea levels.
10. ADB and HSBC India partnered to establish $100 million Partial Guarantee Program for Microfinance in India. Which of the following statement is/are incorrect regarding ADB?

(i) ADB is a regional development bank established in 1965.
(ii) India is a founding member of ADB.
(iii) Niue is the latest member to join ADB.

1. Only (i)
2. Only (ii)
3. Only (i) & (iii)
4. Only (i) & (ii)
5. All (i), (ii) & (iii)

Option “1” is correct.
· Manila-based Asian Development Bank (ADB) has signed an agreement with HSBC India to establish a USD 100 million partial guarantee programme to support micro- borrowers with special weightage to women- run micro-enterprises across India.
· Under the deal, HSBC will expand its lending to microfinance institutions (MFIs) and non-bank finance companies, while multilateral funding agency, ADB will provide partial guarantee to the loans.
· The initiative will support more than 4 lakh borrowers.
· It has also been decided that an aggregated financing equivalent to $30 million will be disbursed to three MFIs across India by April 2022.
About Asian Development Bank
• ADB is a regional development bank established in 1966.
· It has 68 members.
· President: Masatsugu Asakawa
• India is a founding member.
• 49 are from within Asia and the Pacific and 19 outside.
• It aims to promote social and economic development in Asia and the Pacific.
• It is headquartered in Manila, Philippines.
• Niue is the latest member to join ADB.
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