Q. Which of the following institution is known as private arm of the World Bank?
Explanation: The International Finance Corporation (IFC) was set up in 1956 which is also known as the private arm of the WB. It lends money to private sector companies of its member nations.
- The interest rate charged is commercial but comparatively low. There are many attractive features of IFC’s lending.
- It finances and provides advice for private-public ventures and projects in partnership with private investors and, through its advisory work, helps governments of the member nations to create conditions that stimulate the flow of both domestic and foreign private savings and investment.
Source: TMH Ramesh Singh