2. he World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Fund (IMF). The president of the World Bank is, traditionally, an American.

3. Millennium Development Goals
The Millenium Development Goals are based on the 5 Key Factors –
Build capacity
Infrastructure creation
Development of financial systems
Combating corruptions
Research, consultancy and Training

4. The World Bank & India
India was one of the 17 countries which met in Atlantic City, USA in June 1944 to prepare the agenda for the Bretton Woods conference
In fact, the name “International Bank for Reconstruction and Development” [IBRD] was first suggested by India to the drafting committee
The Bank lending to India started in 1949 when the first loan of $34 million was approved for the Indian Railways
The aggregate of the Bank’s lending in India in the last 45 years was approximately $42 billion

5. India is the single largest borrower of WB and IDA
The World Bank Group’s Partnership Strategy for India ( ) will help India lay the foundations for achieving “faster, sustainable, and more inclusive growth” as outlined in the government’s 12th five-year plan
The World Bank Group will support India with an integrated package of financing, advisory services, and knowledge. During the World Bank financial year (July 2013-June 2014), funding for India was $5.2 billion ($2.0 billion in International Bank for Reconstruction and Development (IBRD), $3.1 billion in International Development Association and $0.1 billion in CTF or Clean Technology Fund) across 16 projects.

6. Criticism towards the World Bank
Promoting Washington consensus and allow only big corporations to flourish
Ignore the environmental and social impact of projects
Resentment and social turmoil in India
Cause high debt amongst the countries
Working with private sector will lead to decrease in the role of the state as primary provider
Decisions are made and policies implemented by leading industrialized countries
There are many controversies in the policies of World Bank, still, it works to bridge this divide and turn rich country resources into poor country growth. One of the world’s largest sources of development assistance, the World Bank supports the efforts of developing country governments to build schools and health centres, provide water and electricity, fight disease, etc.

7. The World Bank Group consists of five organizations:
The International Bank for Reconstruction and Development
The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and creditworthy low-income countries.
The International Development Association
The International Development Association (IDA) provides interest-free loans — called credits — and grants to governments of the poorest countries.
Together, IBRD and IDA make up the World Bank.
The International Finance Corporation
The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.
The Multilateral Investment Guarantee Agency
The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.
The International Centre for Settlement of Investment Disputes
The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes.

8. MCQs on World Bank Goals of World Bank includes
promotion of foreign investment
promotion of international trade
facilitation of capital investment
all of above

9. First country who has received loan from World Bank is
United Kingdom
Russia
France
Germany

10. Organization which is not a member of World Bank Group is
International Monetary Fund
International Finance Corporation
International Development Association
International Bank for Development and Reconstruction

11. World Bank is a recognized member of
United Nations Development Council
United Nations Development Group
United Nations Security Council
United Nations General Assembly

12. International financial institution 'World Bank' was founded in
October, 1948
April, 1949
July, 1944
May, 1945