Correct Answer : Option (C) - Both 1 and 2
Note :
* The World Bank Group, which is a vital source of financial and technical assistance to developing countries, consists of five distinct yet complementary organizations, viz.,
* International Bank for Reconstruction and Development (IBRD),
* International Development Association (IDA),
* International Finance Corporation (IFC), hence, statement 1 is correct.
* Multilateral Investment Guarantee Agency (MIGA),
* International Centre for Settlement of Investment Disputes (ICSID).
* Masala Bonds are rupee-denominated borrowings issued by Indian entities in overseas markets. Masala means ‘spices’ and the term was used by International Finance Corporation (IFC) to popularise the culture and cuisine of India on foreign platforms. The objective of Masala Bonds is to fund infrastructure projects in India, fuel internal growth via borrowings and internationalize the Indian currency. Hence, statement 2 is correct.
