Detailed Explanation:

Correct Answer: ✅ Option 3 (I and III only)

The International Bank for Reconstruction and Development is the largest institution of the World Bank Group. It was originally established to support post-war reconstruction and now focuses on development financing.

✅ Statement I is Correct: IBRD provides loans, guarantees, risk-management products, and advisory services primarily to middle-income and creditworthy lower-income countries.

❌ Statement II is Incorrect: IBRD does not work alone to reduce poverty. It works along with other World Bank Group institutions such as:

• International Development Association> (IDA)

• International Finance Corporation> (IFC)

• Multilateral Investment Guarantee Agency> (MIGA)

✅ Statement III is Correct: IBRD was established in 1944 at the Bretton Woods Conference to help rebuild Europe after World War II.

Short Notes: International Bank for Reconstruction and Development (IBRD)

• IBRD was established in 1944 under the Bretton Woods system.

• It is a key institution of the World Bank Group.

• Headquarters: Washington, D.C..

• Provides loans and guarantees to middle-income and creditworthy countries.

• Funds development projects in infrastructure, education, health, and governance.

• Raises funds mainly through international capital markets.

• Its original objective was the reconstruction of Europe after World War II.