When was the World Bank created?
1944
The question asks about the creation date of the World Bank. The World Bank is a crucial international financial institution.
World Bank Creation
The World Bank was formally established during the Bretton Woods Conference held in Bretton Woods, New Hampshire, United States. This conference took place towards the end of World War II and aimed to regulate the international monetary and financial order after the war.
At this conference, two major institutions were created:
- The International Monetary Fund (IMF)
- The International Bank for Reconstruction and Development (IBRD), which is the original institution within the World Bank Group.
The agreement establishing these institutions was reached in 1944.
Let's look at the options provided:
- 1942: This year is before the Bretton Woods Conference.
- 1943: This year is also before the Bretton Woods Conference.
- 1944: This is the year the Bretton Woods Conference took place and the agreement to create the World Bank (IBRD) was signed.
- 1945: While the World Bank officially began operations later, the agreement for its creation was in 1944.
Therefore, the year the World Bank was created or established according to the agreement made at the Bretton Woods Conference is 1944.
Important Questions from International Economic institutions
General Agreement on Tariffs and Trade was formalised in the year:
In which of the following years was ADB (Asian Development Bank) established?
What is the CORRECT sequence of the following?
A. Uruguay Round
B. Kennedy Round
C. Doha Round
D. Geneva Round
Choose the correct answer from the options given below
Match List-I with List-II:
List I
(Trade and Finance Institution)
List II
(Headquarters)
a) WTO i) Brussels b) IMF ii) Geneva c) FAO iii) Washington d) EU iv) Rome Choose the correct option from those given below:
Match List I with List II:
List- I
Type of Agreement
List – II
(Explanation)
A.
NAMA
(I)
Liberation of International Investments
B.
GATTs
(II)
Includes industrial goods. textile. jewellery, fish and fisheries products and manufacturing industries
C.
TRIMs
(III)
Liberalisation of trade in goods and services
D.
TRIPs
(IV)
Provides monopoly power to owners of intellectual ‘property
Choose the correct answer from the options given below -
