Q.Name the four affiliate institutions of the World Bank Group besides the IBRD, and state one distinguishing feature of each.

Over time the original IBRD was joined by four specialised sister bodies, each plugging a specific gap the IBRD alone could not fill.

IDA (International Development Association), established 1960 — lends on highly concessional terms (very low or zero interest, long repayment periods) to the world's poorest countries, which cannot afford to borrow on IBRD's near-market terms.

IFC (International Finance Corporation), established 1956 — unlike the IBRD and IDA, which lend to governments, the IFC invests directly in private-sector companies and projects in developing countries, without requiring a government guarantee.

MIGA (Multilateral Investment Guarantee Agency), established 1988 — provides political-risk insurance (against risks such as expropriation, currency-transfer restrictions, or war) to encourage private foreign direct investment into developing countries that investors might otherwise consider too risky. …

Confusing IFC (which finances private companies) with IDA (which lends only to governments) — the private-vs-government borro …