What is the full name of the 'World Bank'?

Question

Question

This question was previously asked in

KVS TGT WET (Work Experience Teacher) 23 Dec 2018 Official Paper

Answer 1

The correct answer is International Bank for Reconstruction and Development.

Key Points

Full name of the 'World Bank' is International Bank for Reconstruction and Development.
International Bank for Reconstruction and Development (IBRD) popularly known as World Bank which was also set up in 1944 under Bretton Woods conference, along with IMF.
World Bank is also headquartered at Washington DC and has 189 members.
The World Bank focuses on making loans to the governments in order to rebuild public infra, and other infrastructure i.e.., the areas where private sector enterprises do not take interest.

Additional Information

World Bank:
- Formation: July 1944.
- Membership: 189 countries.
- President: Ajay Banga
- Founders: John Maynard Keynes, Harry Dexter White.
The World Bank has published the World Development Report 2021: Data for Better Lives.
The World Development Report 2021 provides a blueprint on how to harness the power of data for development, to ensure no one is left behind