Q1 · UPSC Prelims 2022 · Set A · Current Affairs and GK

Q2 →

"Rapid Financing Instrument" and "Rapid Credit Facility" are related to the provisions of lending by which one of the following?

A Asian Development Bank
B International Monetary Fund
C United Nations Environment Programme Finance Initiative
D World Bank

Correct answer: (b) International Monetary Fund

Explanation

  1. A

    Asian Development Bank

    Asian Development Bank. ADF/OCR lending, not RFI/RCF.

  2. B

    International Monetary Fund

    IMF. Rapid Financing Instrument (GRA) and Rapid Credit Facility (PRGT) are IMF emergency windows.

  3. C

    United Nations Environment Programme Finance Initiative

    UNEP FI. A partnership with banks, not a lender of last resort.

  4. D

    World Bank

    World Bank. IDA/IBRD, DDO and CAT-DDO sit here, not RFI/RCF.

Summary. Official key is (b) IMF. RFI is a GRA rapid-disbursing facility; RCF is the concessional PRGT cousin for low-income members. ADB, UNEP FI and the World Bank are other finance brands.