Recently, the World Bank has approved a USD 500 million loan programme to support India’s informal sector through International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). With this reference consider the following statements:
- IDA provides loans, guarantees, advisory services to middle-income and creditworthy low-income countries.
- The main objective of IBRD is to provide grants and concessional loans to the world’s poorest countries.
- India is classified as ‘blend country’ of World Bank.
Which of the above statements is/are correct?