Consider the following statements about International Finance Corporation:

1. It is known as the private arm of the world bank.
2. It lends money to private sector companies of all countries.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Ans- [A]

Explanation– IFC is a member of the World Bank Group and known as private arm of it as it is the largest global development institution focusing exclusively on the private sector in developing countries (not in all countries hence statement 2 is wrong)