Which of the following international financial institutions is commonly referred to as the World Bank?

Introduction / Context:

This question focuses on global financial institutions and their commonly used names. The term World Bank is widely used in news and economic discussions, but it has a specific institutional meaning. Many exams check whether candidates can connect the popular name World Bank with the formal name International Bank for Reconstruction and Development, and distinguish it from other bodies like the International Monetary Fund or UNICEF.

Given Data / Assumptions:

Concept / Approach:

The World Bank Group consists of several institutions, of which the International Bank for Reconstruction and Development is the original core institution. In many exam oriented references, the term World Bank is used synonymously with IBRD, especially when contrasted with the International Monetary Fund. While IFC is also part of the World Bank Group, the question usually expects the answer that directly matches the formal name associated with the term World Bank, namely IBRD.

Step-by-Step Solution:

Verification / Alternative check:

To verify, recall that the standard pairing in textbooks is IMF and World Bank, with IMF handling short term balance of payments support and World Bank providing long term development finance through IBRD and IDA. Whenever the formal name behind World Bank is mentioned, it is IBRD. This pairing appears repeatedly in exam preparatory materials and helps confirm which option is correct.

Why Other Options Are Wrong:

International Monetary Fund: IMF is a separate institution that provides short term financial assistance and oversees global monetary cooperation; it is not called the World Bank.

UNICEF: This is the United Nations Children's Fund focused on child welfare and humanitarian projects, not a development bank.

IFC: International Finance Corporation is a member of the World Bank Group that supports private sector development, but the term World Bank in exam language refers primarily to IBRD.

Common Pitfalls:

Some candidates mistakenly choose IMF because they frequently see IMF and World Bank mentioned together and assume they are the same organisation. Others may pick IFC due to the word finance in its name. To avoid such mistakes, it is important to memorise the full forms and roles of each Bretton Woods institution and to remember that IBRD is the formal name usually associated directly with the term World Bank.

Final Answer:

The correct answer is International Bank of Reconstruction and Development.