Question

In which year was the World Bank established?

• A. 1944
• B. 1945
• C. 1947
• D. 1950

Hint:

Remember the "Bretton Woods twins": the World Bank and the IMF. Both were created at the same conference in 1944. This association makes it easier to recall their establishment year.

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
The question asks for the founding year of the World Bank, a key international financial institution.
Step 2: Detailed Explanation:
The World Bank was established during the Bretton Woods Conference, which was held in July 1944 in Bretton Woods, New Hampshire, USA.
The conference also led to the creation of the International Monetary Fund (IMF). These two organizations are often referred to as the "Bretton Woods Institutions."
The official name of the World Bank at its founding was the International Bank for Reconstruction and Development (IBRD). Its initial goal was to help rebuild European countries devastated by World War II.
Although the agreements were signed in 1944, it formally came into existence in 1945. However, the year of establishment is considered 1944.
Step 3: Final Answer:
The World Bank was established at the Bretton Woods Conference in 1944. Therefore, option (A) is the correct answer.