Question

Arrange the following higher banking institutions as per their year of establishment from early to latest.
(A) Asian Development Bank (ADB)
(B) International Development Association (IDA)
(C) World Bank (IBRD)
(D) International Finance Corporation (IFC)
Choose the correct answer from the options given below:

• A. (C), (B), (D), (A)
• B. (D), (C), (A), (D)
• C. (C), (D), (B), (A)
• D. (C), (A), (B), (D)

Hint:

Remember the World Bank Group timeline:
- IBRD was established first in 194
- IFC was added in 1956 to support private enterprise.
- IDA was established in 1960 to act as the soft loan window.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
This question focuses on the establishment of global financial and development banking institutions.
Many of these institutions belong to the World Bank Group, while others are regional development banks.

Step 3: Detailed Explanation:
Let us identify the establishment years of the listed institutions:
- (C) World Bank International Bank for Reconstruction and Development (IBRD): Established in 1944 during the Bretton Woods Conference to assist with post-WWII reconstruction.
- (D) International Finance Corporation (IFC): Established in 1956 as a member of the World Bank Group to promote private sector investment in developing countries.
- (B) International Development Association (IDA): Established in 1960 to provide concessional, interest-free loans (grants) to the poorest developing nations.
- (A) Asian Development Bank (ADB): Established in 1966 to foster economic growth and cooperation in the Asia-Pacific region.
Arranging these institutions chronologically from earliest to latest:
\[ \text{IBRD (C) [1944]} \rightarrow \text{IFC (D) [1956]} \rightarrow \text{IDA (B) [1960]} \rightarrow \text{ADB (A) [1966]} \]

Step 4: Final Answer:
The correct chronological sequence is (C), (D), (B), (A).