World Bank - GS questions based on daily current affairs

ANSWER: All of the above

Explanation:

• The New Development Bank (NDB) and the China-led Asian Infrastructure Development Bank (AIIB) — both geared towards infrastructure development in Asia and the Global South — are reshaping the global financial architecture, a field that had been monopolized by western backed International Monetary Fund (IMF), the World Bank and the Asian Development Bank (ADB).
• The New Development Bank (NDB) is a multilateral lender with a focus on the Global South of the Brazil-Russia-India-China-South Africa (BRICS) grouping.
• NDB President is K.V. Kamath.

ANSWER: Chenab

Explanation:
Tawi River divides Jammu into two. It joins Chenab in Pakistan. J&K govt is planning to build a lake on river Tawi. World Bank (IDA) assistance of US$ 250 million for Jhelum and Tawi Flood Recovery Project was signed between Government of India and the World Bank. The project will focus on restoring critical infrastructure using international best practice on resilient infrastructure. The primary beneficiaries would be the communities in the districts of Jammu & Kashmir that were affected by loss of public service infrastructure that will be restored and improved under the project. By strengthening disaster risk management systems and institutions, the project will benefit the entire affected region. The project has seven components: (i) Reconstruction and strengthening of critical infrastructure; (ii) Reconstruction of roads and bridges; (iii) Restoration of urban flood management infrastructure; (iv) Restoration and strengthening of livelihoods; (v) Strengthening disaster risk management capacity; (vi) Contingency Emergency Response; and (vii) Implementation Support.