International Financial Organizations

Help us understand what's happening

What's wrong with the post
Submit

  • Home
  • International Financial Organizations

International Financial Organizations

International Financial Organizations

1). World Bank Group

World Bank Group is the largest development bank in the world. It is the group of five international organizations that provide loans to developing countries.

  • It is founded in 1945 following the ratification of Bretton Woods agreement
  • Headquarter: Washington D.C. (United States)
  • Aim: Economic Development
  • President : Jim Yong Kim

Following are the five International Organizations

  • IBRD (International Bank for Reconstruction and Development)
  • IDA (International Development Association)
  • IFC (International Finance Corporation)
  • ICSID (International Centre for Settlement of Investment Disputes)
  • MIGA (Multilateral Investment Guarantee Agency)

2). World Bank

World Bank is the component of World Bank Group. It provides loans to countries of the world for capital programs. It is founded in 1944 as a result of Bretton Woods Convention.

It comprises of two institutions:

  • IBRD (International Bank for Reconstruction and Development)
  •  IDA ( International Development Association)

CEO: Kristaliana Georgieva

Aim: Reduction of Poverty

3). IMF (International Monetary Fund)

It is an international financial institution formed in 1944 at Bretton Woods Conference. It came into formal existence in 1945 with 29 member countries with a goal of reconstructing the international payment system.

Following are the main objectives of IMF

  • To promote international monetary co-operation
  • To facilitate international trade
  • To make resources available to members experiencing balance of payment difficulties

IMF plays a crucial role in the management of ‘Balance of Payments.’  Each member country contributes funds through quota system. At the time of balance of payment difficulties member countries can borrow money from this pool.

Headquarter: Washington D.C. (United Nations)

CEO: Christine Lagarde

4). BIS (Bank for International Settlements)

Bank for International Settlements is owned by 60 central banks of world which encourages international and financial co-operation. BIS carries out its work through the Basel process.

Purpose: to provide banking services but only to central banks and other international organizations.

Established: 1930

Headquarter: Basel (Switzerland)

General Manager: Jaime Caruana

5). ADB( Asian Development Bank)

The Asian Development Bank is a regional development bank. Its main objective is to eradicate poverty in Asia and the Pacific.

Founded: 1966

Headquarter: Manila, Phillipines

President: Takehiko Nakao

Members: 167 countries

Motto: Fighting poverty in Asia and Pacific

6). AIIB( Asian Infrastructure Investment Bank)

The Asian Infrastructure Investment Bank is a new multilateral financial institution founded to bring countries together to address the daunting infrastructure needs across Asia.

Founded: 2015

Member: 50 countries (India is also a member)

Headquarter: Beijing, China

President: Jin Liqun

7). NDB (New Development Bank of India)

The New Development Bank is a multilateral development bank, also known as BRICS Bank as it is operated by BRICS countries.

BRICS comprises of Brazil, Russia, India, China and South Africa.

Purpose: To mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries.

Founded: 2014

Headquarter: Shanghai, China

Founder: BRICS (Brazil, Russia, India, China and South Africa)

President: K.V. Kamath

 

Sample questions:

Q1. Headquarter of World Bank is in ___________

a). Newyork
b). Washington D.C.
c). Geneva
d). Netherlands
 

Q2. Headquarter of IMF (International Monetary Fund) is in___________

a). Washington D.C.
b). Vienna
c). Newyork
d). Bern
 

Q3. Headquarter of BIS (Bank for International Settlement) is in_____________

a). Bern
b). Geneva
c). Vienna
d). Basel
 

Q4. Headquarter of ADB (Asian Development Bank) is in _______________

a).Manila( Philippines)
b).Beijing( China)
c). New Delhi (India)
d). Bangladesh
 

Q5. Headquarter of AIIB (Asian Infrastructure Investment Bank) is in ______________

a). Manila (Philippines)
b). Beijing (China)
c). Shangai (China)
d). None of above
 

Q6. Headquarter of NDB ( New Development Bank ) is in ______________

a). Washington D.C. (United States)
b). Shangai (China)
c). Beijing (China)
d). None of above
 

Q7. Establishment year of World Bank Group is in __________________

a). 1944
b). 1945
c). 1946
d). 1947
 

Q8. Establishment year of World Bank is____________

a). 1944
b). 1945
c). 1946
d). 1947
 

Q9. Establishment year of IMF (International Monetary Fund) is ___________

a). 1944
b). 1945
c). 1946
d). 1947
 

Q10. Establishment year of BIS (Bank for International Settlements) is ____________

a). 1928
b). 1929
c). 1930
d). 1931
 

Q11. Establishment year of ADB ( Asian Development Bank) is _________

a). 1964
b). 1965
c). 1966
d). 1967
 

Q12. Establishment year of AIIB (Asian Infrastructure Investment Bank) is_________

a). 2010
b). 2011
c). 2014
d). 2015
 

Q13. Establishment year of NDB ( New Development Bank) is __________

a). 2010
b). 2012
c). 2014
d). 2015
 

Q14. Who is the head of World Bank Group

a). Christine Lagarde
b). Jim Yong Kim
c). Raymond Benjamin
d). None of above
 

Q15. Who is the head of World Bank

a). Kristaliana Georgieva
b). Jim Yong Kim
c). Raymond Benjamin
d). None of above
 

Q16. Who is the head of IMF (International Monetary Fund)

a). Christine Lagarde
b). Jin Liqun
c). Jaime Caruana
d). None of above
 

Q17. Who is the head of BIS ( Bank for International Settlements)

a). Jim Yong Kim
b). Margaret Chan
c). Jaime Caruana
d). None of above
 

Q18. Who is the head of ADB ( Asian Development Bank)

a). K V Kamath
b). Takehiko Nakao
c). Michel Jarrod
d). None of above
 

Q19. Who is the head of AIIB ( Asian Infrastructure Investment Bank)

a). Jin Liqun
b). Michel Jarrod
c). K V Kamath
d). None of above
 

Q20. Who is the head of NDB ( New Development Bank)

a). Takehiko Nakao
b). Jin Liqun
c). K V Kamath
d). None of above
 

Q21. BRICS Bank is another name of which bank______

a). NDB (New Development Bank)
b). BIS ( Bank for International Settlements)
c). ADB (Asian Development Bank)
d). None of above
 

Q22. In the acronym BRICS , C stands for

a). Canada
b). China
c). Chile
d). None of these
 

Answers:

1). (b) Headquarter of World Bank is in Washington D.C.

2). (a) Headquarter of IMF (International Monetary Fund) is in Washington D.C.

3). (d) Headquarter of BIS (Bank for International Settlements) is in Basel (Switzerland)

4). (a) Headquarter of ADB (Asian Development Bank) is in Manila (Philippines)

5). (b) Headquarter of AIIB (Asian Infrastructure Investment Bank) is in Beijing (China)

6). (b) Headquarter of NDB (New Development Bank) is in Shanghai (China)

7). (b) World Bank Group was established in 1945

8). (a) World Bank was established in 1944

9). (a) IMF (International Monetary Fund) was established in 1944

10). (c) BIS (Bank for International Settlements) was established in1930

11). (c) ADB (Asian Development Bank) was established in 1966

12). (d) AIIB (Asian Infrastructure Investment Bank) was established in 2015

13). (c) NDB( New Development Bank) was established in 2014

14). (b) Jim Yong Kim is the head of World Bank Group

15). (a) Kristaliana Georgieva is the head of World Bank

16). (a) Christine Lagarde is the head of IMF (International Monetary Fund)

17). (c) Jaime Caruana is the head of BIS (Bank for International Settlements)

18). (b) Takehiko Nakao is the head of ADB ( Asian Development Bank)

19). (a) Jin Liqun is the head of AIIB (Asian Infrastructure Investment Bank)

20). (c) KV  Kamath is the head of NDB ( New Development Bank of India)

21). (a) BRICS Bank is the another name of NDB (New Development Bank)

22). (b) BRICS- Brazil, Russia, India, China and South Africa

arrow