World Bank Leadership and IFC Overview
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Questions and Answers

Who is the President of the World Bank Group?

  • Ajay Banga (correct)
  • Meg Kinnear
  • Hiroshi Matano
  • Makhtar Diop
  • What was the initial capital established for the International Finance Corporation?

  • $100 million (correct)
  • $50 million
  • $500 million
  • $200 million
  • Which organization focuses exclusively on the private sector in developing countries?

  • Multilateral Investment Guarantee Agency
  • World Bank
  • International Finance Corporation (correct)
  • International Centre for Settlement of Investment Disputes
  • How many countries did the International Finance Corporation partner with at its inception?

    <p>50 countries</p> Signup and view all the answers

    In which year was the International Finance Corporation founded?

    <p>1956</p> Signup and view all the answers

    What is one primary goal of the World Bank Group for 2030?

    <p>End extreme poverty</p> Signup and view all the answers

    Which approach has IFC used to support the private sector in developing countries?

    <p>Loans, equity investments, and guarantees</p> Signup and view all the answers

    What term did IFC coin to describe specific markets?

    <p>Emerging markets</p> Signup and view all the answers

    What is one of the core functions of the OECD?

    <p>Policy Development</p> Signup and view all the answers

    What principle was developed by the OECD regarding environmental responsibility?

    <p>Polluter Pays Principle</p> Signup and view all the answers

    Which organization preceded the establishment of NITI Aayog?

    <p>Planning Commission</p> Signup and view all the answers

    When was the OECD formally established?

    <p>1961</p> Signup and view all the answers

    What is one of the main purposes of NITI Aayog?

    <p>To foster cooperative federalism</p> Signup and view all the answers

    Which international entities does OECD work closely with?

    <p>G7 and G20</p> Signup and view all the answers

    What was one of the key contributions of the OECD in the realm of education?

    <p>Establishing international education assessments</p> Signup and view all the answers

    In what year was NITI Aayog established?

    <p>2015</p> Signup and view all the answers

    What is one of the main objectives of the policy and programme framework?

    <p>Incorporate national security interests</p> Signup and view all the answers

    Who is the current Chairperson of the Governing Council?

    <p>Narendra Modi</p> Signup and view all the answers

    What does NITI Aayog aim to foster through cooperative federalism?

    <p>Performance-based state rankings</p> Signup and view all the answers

    Which of the following is NOT one of the recent initiatives mentioned?

    <p>Launching new state-funded projects</p> Signup and view all the answers

    What role does NITI Aayog play as a think tank?

    <p>Promoting innovation and providing policy inputs</p> Signup and view all the answers

    What is a significant feature of the NITI Aayog's Governing Council?

    <p>Involves Chief Ministers of all States and LGs of UTs</p> Signup and view all the answers

    Which area does the monitoring and evaluation aspect focus on?

    <p>Assessing implementation and progress</p> Signup and view all the answers

    How does NITI Aayog aim to resolve inter-sectoral issues?

    <p>By encouraging partnerships and collaborative support systems</p> Signup and view all the answers

    What is the primary purpose of capital market indices?

    <p>To provide benchmarks for evaluating investment performance</p> Signup and view all the answers

    Which of the following represents broad-market indices in India?

    <p>NIFTY 50</p> Signup and view all the answers

    Which indices track performance specific to sectors within the economy?

    <p>Sectoral Indices</p> Signup and view all the answers

    What type of indices combines equity and fixed income components?

    <p>Hybrid Indices</p> Signup and view all the answers

    Which index focuses on specific investment strategies like alpha or low volatility?

    <p>Strategy Indices</p> Signup and view all the answers

    What do fixed income indices primarily measure?

    <p>The yield trends of government bonds and corporate bonds</p> Signup and view all the answers

    Which of the following indices reflects market sentiment and economic trends?

    <p>Broad-market Indices</p> Signup and view all the answers

    How do sector-specific indices respond to economic changes?

    <p>They vary based on developments within specific sectors</p> Signup and view all the answers

    What is the primary vision outlined in the Interim Budget 2024-25 for the year 2047?

    <p>Viksit Bharat</p> Signup and view all the answers

    Which program has provided credit assistance to street vendors as part of the Interim Budget initiatives?

    <p>PM SVANIDHI</p> Signup and view all the answers

    How many households is the Rooftop Solarization Initiative aiming to provide with free solar electricity?

    <p>One crore households</p> Signup and view all the answers

    What is one of the goals of the Blue Economy 2.0 initiatives?

    <p>Enhancing coastal aquaculture</p> Signup and view all the answers

    What is the total amount sanctioned for loans under the PM Mudra Yojana?

    <p>22.5 lakh crore</p> Signup and view all the answers

    Which target is close to being achieved under the Pradhan Mantri Awas Yojana (Grameen)?

    <p>3 crore houses</p> Signup and view all the answers

    To which demographic does the Interim Budget particularly focus on empowering?

    <p>Women, farmers, and the poor</p> Signup and view all the answers

    What environmental commitment is a part of the Interim Budget 2024-25?

    <p>Commitment to Net Zero Emissions</p> Signup and view all the answers

    Study Notes

    World Bank Leadership

    • World Bank Group President: Ajay Banga
    • International Finance Corporation (IFC) Managing Director: Makhtar Diop
    • Multilateral Investment Guarantee Agency (MIGA) Executive Vice President: Hiroshi Matano
    • International Centre for Settlement of Investment Disputes (ICSID) Secretary General: Meg Kinnear

    International Finance Corporation (IFC)

    • Founded in 1956 as a sister organization of the World Bank and part of the World Bank Group
    • Largest global development institution focused exclusively on the private sector in developing countries
    • Offers investment, advisory, and asset-management services to foster private-sector development in over 100 countries
    • Pioneered new markets, such as sustainable bonds, and coined the term "emerging markets."

    IFC Mission and Functions

    • Mission: Advance economic development by encouraging the growth of private enterprises in developing countries
    • Supports countries in developing their private sectors through various methods: investing in companies via loans, equity investments, debt securities, and guarantees.
    • Mobilizes capital from other lenders and investors through loan participations, parallel loans, and other means.

    OECD

    • Collaborates with governments, policymakers, and citizens to create evidence-based standards and solutions for a wide range of social, economic, and environmental challenges.
    • Core functions include: Policy Development, creating international standards, and advising on public policies.
    • Evolved from the Organisation for European Economic Co-operation (OEEC), which was established to manage aid under the Marshall Plan for Europe's post-WWII reconstruction.

    Key Contributions

    • Developed important principles such as the "polluter pays" principle.
    • Influential in various fields, including education, economic policy, and environmental protection.
    • Engages in multilateral efforts to address global issues through evidence-based analysis and recommendations.

    NITI Aayog

    • Formed in 2015 as a replacement for India's Planning Commission.
    • Purpose: Serve the needs and aspirations of India, foster cooperative federalism, and act as a platform for state and national interests.
    • Mandate: Reimagine development, dismantle old central planning, and foster a national consensus on developmental goals.

    NITI Aayog Functions

    • Designing long-term policies and programs
    • Bringing states together for national interest
    • Assessing implementation and progress
    • Acting as a hub for knowledge and innovation

    NITI Aayog Objectives

    • Shared vision of national development
    • Foster cooperative federalism
    • Formulate credible plans at all levels
    • Incorporate national security interests
    • Focus on at-risk sections of society
    • Design strategic policies and frameworks
    • Encourage partnerships and collaborative support systems
    • Resolve inter-sectoral and inter-departmental issues
    • Maintain a state-of-the-art resource centre
    • Actively monitor and evaluate programs and initiatives
    • Focus on technology upgradation and capacity building

    NITI Aayog Current Constitution

    • Chairperson: Prime Minister of India (Narendra Modi)
    • Vice Chairperson: Suman Bery
    • Full-Time Members: V.K.Saraswat, Ramesh Chand, V.K.Paul, Arvind Virmani
    • CEO: BVR Subrahmanyam
    • Governing Council: Includes the PM, ex-officio members, Chief Ministers of all States, LGs of UTs, and special invitees

    NITI Aayog Relevance

    • Competitive Federalism: Performance-based state rankings
    • Cooperative Federalism: Direct state representation
    • Greater Accountability: Real-time performance data collection
    • Innovative Ideas: Funnel for new ideas from various sources
    • Convergence for Resolution: Platform for discussing common issues

    NITI Aayog in News

    • E-Commerce Exports (March 2023): Recommendations for boosting MSME exports, including easing export finance and green channel clearances.
    • Best Practices in Social Sector (May 2023): Compendium of 75 case studies showcasing innovative and impactful models across various themes.

    Capital Market Indices

    • Used to track and measure the performance of various financial instruments such as stocks, bonds, and other securities.
    • Provide benchmarks for investors to evaluate the performance of their investments against different asset classes.
    • Include broad-market, sectoral, strategy, fixed income, and hybrid indices.

    Recent Capital Market Developments

    • Market Performance: Indices like NIFTY 50 and SENSEX have been reflecting market sentiments and economic trends, influencing investor confidence and financial planning.
    • Sector-specific Trends: Sectoral indices such as IT, Pharma, and FMCG have shown varying performances, responding to sector-specific developments and global economic shifts.
    • Strategy-based Insights: Indices focusing on factors like alpha and low volatility provide tools for investors to tailor their strategies based on specific risk and return objectives.

    Interim Budget 2024-25

    • Outlines a vision for 'Viksit Bharat' by 2047, focusing on Governance, Development, and Performance (GDP).
    • Emphasizes empowering youth, poor, women, and farmers through strategic initiatives.
    • Highlights Include environmental initiatives and the promotion of the blue economy.

    Environmental Initiatives

    • Rooftop Solarization Initiative: Aims to provide free solar electricity to one crore households, allowing savings of 15,000 to 18,000 annually and enabling surplus electricity sale.
    • Electric Vehicle (EV) Manufacturing: Focus on expanding EV manufacturing and charging infrastructure to create entrepreneurship and employment opportunities, particularly for youth skilled in manufacturing, installation, and maintenance.
    • Net Zero Emissions Commitment: Measures include viability gap funding for offshore wind energy, reducing dependence on natural gas, methanol, and ammonia imports, mandatory blending of compressed biogas in CNG and PNG, and financial incentives for waste management.
    • Bio-Manufacturing and Bio-Foundry: Introduces facilities for producing biodegradable polymers, bio-plastics, bio-pharmaceuticals, and bio-agri-inputs to promote green growth.

    Blue Economy 2.0

    • Launch of schemes for coastal aquaculture, mariculture, and climate-resilient activities to enhance blue economy sustainability.

    Interim Budget Key Sector Initiatives

    • PM SVANIDHI (Prime Minister’s Street Vendor’s AtmaNirbhar Nidhi): Provided credit assistance to 78 lakh street vendors, with 2.3 lakh receiving credit for the third time.
    • Skill India Mission: Trained and upskilled 1.4 crore youth through short-term and long-term training programs across multiple ministries and departments.
    • PM Mudra Yojana: Sanctioned loans totaling `22.5 lakh crore to foster entrepreneurial aspirations among youth.
    • Pradhan Mantri Awas Yojana (Grameen): Close to achieving the target of 3 crore houses, with an additional 2 crore houses targeted for the next 5 years.

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    Description

    This quiz covers the leadership of the World Bank Group, including key figures such as Ajay Banga and Makhtar Diop. It also explores the mission and functions of the International Finance Corporation (IFC), highlighting its role in fostering private-sector development in developing countries.

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