Consider the following statements: 1. International Financial Corporation is an organ of World Bank to finance private sector in developing countries. 2. ICIMOD - International Centre for Integrated Mountain Development is an inter-government knowledge and learning centre situated in Switzerland 3. All India Rural Financial Inclusion Survey is conducted by Reserve Bank of India (RBI) every five years. Which of the above statement(s) is/are correct?

International Finance Corporation

• The IFC was founded in 1956 as a member of the World Bank Group, with the goal of fostering private sector investment to reduce poverty and promote development. Hence, statement 1 is correct.
• The IFC invests in sectors like infrastructure, manufacturing, agribusiness, healthcare, and financial markets.

Role and Purpose

• It provides loans, equity investments, and advisory services to the private sector.
• Its focus is on sustainable development by helping companies and industries create jobs, increase economic growth, and reduce poverty.
• The IFC helps businesses in developing countries access capital, particularly in regions where local financial markets may be underdeveloped.

International Centre for Integrated Mountain Development (ICIMOD)

• International Centre for Integrated Mountain Development (ICIMOD) is based in Kathmandu, Nepal. Hence, statement 2 is incorrect.
• ICIMOD was established in 1983 with the aim of promoting sustainable development in the Hindu Kush Himalayan (HKH) region.
• ICIMOD is an intergovernmental knowledge and learning center that works to support the sustainable development of mountain regions, particularly in the Hindu Kush Himalayas.
• It focuses on research, development, and sharing knowledge on topics like climate change, ecosystem management, biodiversity, livelihoods, and disaster risk reduction.
• Member Countries: ICIMOD’s regional member countries include Afghanistan, Bangladesh, Bhutan, China, India, Myanmar, Nepal, and Pakistan.

All India Rural Financial Inclusion Survey (NAFIS)

• The All India Rural Financial Inclusion Survey (NAFIS) is conducted by NABARD (National Bank for Agriculture and Rural Development). Hence, statement 3 is incorrect.
• NAFIS was conducted in 2016-17 to collect comprehensive data on various aspects of rural households, such as income, indebtedness, savings, and financial inclusion.
• NABARD conducts these surveys periodically, but it is not necessarily done every five years.

Key Objectives of NAFIS

• Assess the income and debt levels of rural households
• Evaluate the financial inclusion of rural populations by looking at access to banking and financial services.
• Study patterns of savings, borrowings, and investments among rural households, including agricultural and non-agricultural households.