Consider the following statements in respect of the International Bank for Reconstruction Development (IBRD): [International Relations]

I. It provides loans and guarantees to middle income countries.
II. It works single-handedly to help developing countries to reduce poverty.
III. It was established to help Europe rebuild after the World War II.

Which of the statements given above are correct?

The correct option is I and III only.

Let us analyze each statement step-by-step to understand why this is the correct answer:

Statement I is correct: The International Bank for Reconstruction and Development (IBRD) is a global development cooperative owned by its 189 member countries. As the largest development bank in the world, its primary mission is to support the World Bank Group's mission by providing loans, guarantees, risk management products, and advisory services to middle-income and creditworthy poorer countries.

Statement II is incorrect: The IBRD does not work single-handedly. It is one of five institutions that make up the World Bank Group. It works closely with the International Development Association (IDA), which focuses on the poorest countries, as well as other affiliates like the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID) to collectively reduce poverty and foster shared prosperity.

Statement III is correct: The IBRD was established in 1944 at the Bretton Woods Conference. Its initial and immediate mission was to facilitate the post-World War II reconstruction of war-torn European nations, a goal it successfully pursued before shifting its focus toward broader global development and poverty reduction.

Therefore, statements I and III are correct, while statement II is incorrect, making I and III only the correct choice.