International Economic Organisations Notes for SSC Exams: IMF, World Bank, WTO, ADB, NDB
Rahul Kumar
SSC Exam Expert & Content Editor
In this note
- 1.The Bretton Woods Institutions: IMF and World Bank
- 2.The World Bank Group (Five Institutions)
- 3.World Trade Organization (WTO)
- 4.Regional Development Banks and Funds
- 5.Other Important Economic Organisations
- 6.India and the International Economic Organisations
- 7.Key Terms of International Economy
- 8.Important Questions Explained
- 9.Quick Tips to Remember
- 10.Common Mistakes to Avoid
- 11.Quick Revision Points
- 12.Practice Questions With Answers
- 13.How to Practise This Topic
- 14.Related Notes and Practice
- 15.Frequently Asked Questions
PDF Notes: International Economic Organisations Notes for SSC Exams: IMF, World Bank, WTO, ADB, NDB
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International economic organisations are asked in every SSC exam: Where is the headquarters of the IMF? When was the WTO established? Who is the head of the World Bank? Which organisation has the SDR? These international economic organisations notes for SSC give you the year, the headquarters, the head, the main work and the role of India for every important body in simple tables, with 20 practice questions. Read them with the Capital Market, Money Market and SEBI Notes, RBI and Monetary Policy Notes and Summits 2026: G20, BRICS and SCO Notes notes.
The Bretton Woods Institutions: IMF and World Bank
| Point | International Monetary Fund (IMF) | World Bank (IBRD) |
|---|---|---|
| Born at | The Bretton Woods Conference (New Hampshire, USA), July 1944; also called the "Bretton Woods twins" | The same conference |
| Started working | 27 December 1945 (the agreement came into force); began operations on 1 March 1947 | 1946 (the first loan to France in 1947) |
| Headquarters | Washington, D.C. (USA) | Washington, D.C. (USA) |
| Main aim | To keep the global monetary stability, the exchange rate stability and to give the short-term loans for the balance-of-payments problems | To give the long-term loans and the grants for the reconstruction and development |
| Head | Managing Director: Kristalina Georgieva (Bulgaria) | President: Ajay Banga (Indian-American; since June 2023) |
| Members | About 190 countries | IBRD has about 189 members |
| Special feature | Special Drawing Rights (SDR), the international reserve asset; also called "paper gold" | Gives the loans to the developing countries for the projects such as the roads and the dams |
| Voting | Based on the quota; the USA is the largest quota holder | Based on the shares; the USA is the largest shareholder |
| India | A founding member of both |
- The IMF publishes the World Economic Outlook (WEO); the World Bank publishes the World Development Report.
- The "Doing Business" report of the World Bank was discontinued in 2021.
- Special Drawing Rights (SDR) basket: the US dollar, euro, Chinese yuan, Japanese yen and the British pound.
The World Bank Group (Five Institutions)
| Institution | Year | Role |
|---|---|---|
| IBRD (International Bank for Reconstruction and Development) | 1944-45 | Loans to the middle-income countries |
| IDA (International Development Association) | 1960 | Soft loans (without interest) to the poorest countries |
| IFC (International Finance Corporation) | 1956 | Investment in the private sector of the developing countries |
| MIGA (Multilateral Investment Guarantee Agency) | 1988 | Guarantees against the political risk to the investors |
| ICSID (International Centre for Settlement of Investment Disputes) | 1966 | The settlement of the investment disputes |
World Trade Organization (WTO)
| Point | Fact |
|---|---|
| Established | 1 January 1995; it replaced the GATT (General Agreement on Tariffs and Trade, 1947) |
| Headquarters | Geneva (Switzerland) |
| Head | Director-General: Ngozi Okonjo-Iweala (Nigeria); the first woman and the first African to hold the post |
| Members | About 166 members; India is a founding member |
| Highest body | Ministerial Conference (every two years) |
| Agreements | AoA (Agreement on Agriculture), GATS (services), TRIPS (intellectual property rights), TRIMS (investment measures) |
| Dispute settlement | The Dispute Settlement Body (DSB) and the Appellate Body (the Appellate Body has not been working since 2019) |
| Principles | Most-favoured-nation (MFN) and the national treatment |
| Earlier rounds of GATT | The last was the Uruguay Round (1986 to 1994), which led to the WTO |
Regional Development Banks and Funds
| Organisation | Year | Headquarters | Key facts |
|---|---|---|---|
| Asian Development Bank (ADB) | 1966 | Manila (Philippines) | President: Masato Kanda (Japan), who took charge in 2025; India is a member; Japan and the USA are the largest shareholders |
| Asian Infrastructure Investment Bank (AIIB) | 2015-16 | Beijing (China) | India is the second-largest shareholder after China |
| New Development Bank (NDB) | 2015 (started in 2015 by the BRICS) | Shanghai (China) | Also called the BRICS bank; President: Dilma Rousseff (Brazil); the first president was K. V. Kamath (India) |
| African Development Bank (AfDB) | 1964 | Abidjan (Cote d'Ivoire) | For Africa |
| European Bank for Reconstruction and Development (EBRD) | 1991 | London | For the former communist countries |
| Inter-American Development Bank (IDB) | 1959 | Washington, D.C. | For Latin America |
| Bank for International Settlements (BIS) | 1930 | Basel (Switzerland) | The central bank of the central banks; it sets the Basel norms |
| International Fund for Agricultural Development (IFAD) | 1977 | Rome | The UN agency for the rural poverty |
Other Important Economic Organisations
| Organisation | Year | Headquarters | Key facts |
|---|---|---|---|
| OPEC (Organization of the Petroleum Exporting Countries) | 1960 | Vienna (Austria) | Founded in Baghdad by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela; the oil producers; India is not a member |
| OPEC+ | 2016 | Vienna | OPEC and the other oil producers such as Russia |
| OECD (Organisation for Economic Co-operation and Development) | 1961 | Paris (France) | Of the developed economies; India is not a member but works as a key partner |
| UNCTAD (UN Conference on Trade and Development) | 1964 | Geneva | The trade and the development of the developing countries; India is a member |
| G20 | 1999 (leaders' summit from 2008) | No permanent secretariat | The 19 countries and the European Union and since 2023 the African Union; India held the presidency in 2023 (New Delhi Summit, 9 and 10 September 2023); South Africa held it in 2025 (Johannesburg) and the USA in 2026 |
| BRICS | 2009 (BRIC); South Africa joined in 2010 | No headquarters | Brazil, Russia, India, China and South Africa and the new members; India chairs BRICS in 2026 |
| ASEAN | 1967 | Jakarta (Indonesia) | 10 members; India is a dialogue partner |
| SAARC | 1985 | Kathmandu (Nepal) | 8 members |
| World Economic Forum (WEF) | 1971 | Geneva (Cologny); the annual meeting at Davos (Switzerland) | Publishes the Global Gender Gap Report |
| International Labour Organization (ILO) | 1919 | Geneva | A UN agency; the Nobel Peace Prize in 1969 |
| UNIDO | 1966 | Vienna | Industrial development |
| FAO | 1945 | Rome | Food and agriculture; World Food Day on 16 October |
Read the latest news on the G20, the BRICS and the SCO summits in the Summits 2026: G20, BRICS and SCO Notes note.
India and the International Economic Organisations
- India is a founding member of the IMF, the World Bank and the WTO (GATT).
- India is the second-largest shareholder of the AIIB and a founding member of the NDB (BRICS bank).
- India took a loan from the IMF in 1991 during the balance-of-payments crisis, which led to the economic reforms of 1991; India repaid the IMF loan in advance in 2000 and since then it has not borrowed from the IMF.
- India holds a quota in the IMF which decides its voting power; the quota is revised in a general review.
- The International Solar Alliance (ISA) (Gurugram) was started by India and France in 2015.
- India's presidency of the G20 in 2023 had the theme "Vasudhaiva Kutumbakam" (One Earth, One Family, One Future); the African Union became a permanent member of the G20 during the New Delhi Summit.
Key Terms of International Economy
| Term | Meaning |
|---|---|
| Balance of Payments (BoP) | The record of all the economic transactions between a country and the rest of the world; it has the current account and the capital account |
| Balance of trade | The difference between the value of the exports and the imports of goods |
| Trade deficit | Imports are more than the exports |
| Exchange rate | The price of one currency in terms of another |
| Foreign exchange reserves | The foreign currencies, the gold, the SDR and the IMF reserve position held by the RBI |
| Tariff and non-tariff barriers | Import duties and the other restrictions on the trade |
| Free trade agreement (FTA) | An agreement to reduce the tariffs between the countries (for example, the India-UAE CEPA) |
| Sovereign credit rating | The rating of the ability of a country to repay its debt (Moody's, S&P and Fitch) |
| Dumping | Selling the goods in a foreign market at a price lower than the home price |
Important Questions Explained
Question 1: Where is the headquarters of the IMF and the World Bank?
Answer: Washington, D.C. (USA).
Question 2: When was the WTO established and which agreement did it replace?
Answer: On 1 January 1995, and it replaced the GATT (1947).
Question 3: Who is the President of the World Bank?
Answer: Ajay Banga (since June 2023).
Question 4: Where is the headquarters of the WTO?
Answer: Geneva (Switzerland).
Question 5: What is the New Development Bank also called and where is it located?
Answer: The BRICS bank, in Shanghai (China).
Question 6: Which organisation is called the "central bank of the central banks"?
Answer: The Bank for International Settlements (BIS), in Basel.
Question 7: Which organisation issues the Special Drawing Rights (SDR)?
Answer: The IMF.
Quick Tips to Remember
- Learn the headquarters in groups: Washington (IMF, World Bank), Geneva (WTO, WEF, ILO, UNCTAD), Vienna (OPEC), Paris (OECD), Manila (ADB), Beijing (AIIB), Shanghai (NDB).
- Remember the year with the organisation: IMF and World Bank 1944, WTO 1995, OPEC 1960, ADB 1966.
- Learn the heads of the main organisations before the exam: they change.
- Remember that India is the second-largest shareholder of the AIIB.
- Remember that SDR belongs to the IMF.
- Revise the G20 and the BRICS presidents of the last years.
Common Mistakes to Avoid
- Writing the headquarters of the WTO as Washington (it is Geneva).
- Confusing the IMF (short-term balance-of-payments loans) with the World Bank (long-term development loans).
- Writing the year of the WTO as 1947 (GATT) instead of 1995.
- Writing the AIIB headquarters as Shanghai (it is Beijing; the NDB is in Shanghai).
- Writing India as a member of OPEC or OECD.
Quick Revision Points
- IMF and World Bank: 1944 Bretton Woods; Washington, D.C.; IMF: SDR.
- WTO: 1 January 1995; Geneva; replaced the GATT.
- ADB: 1966, Manila; AIIB: Beijing; NDB: Shanghai (BRICS bank).
- OPEC: 1960, Vienna; OECD: 1961, Paris; BIS: Basel; WEF: Geneva.
- G20: India 2023; USA 2026. BRICS: India chairs in 2026.
- Heads: Georgieva (IMF), Ajay Banga (World Bank), Okonjo-Iweala (WTO), Masato Kanda (ADB).
Practice Questions With Answers
- Where is the headquarters of the IMF?
Answer: Washington, D.C. (USA). - Where is the headquarters of the World Bank?
Answer: Washington, D.C. (USA). - Where was the Bretton Woods Conference held in 1944?
Answer: Bretton Woods, New Hampshire (USA) (IMF and World Bank). - What is the full form of IMF?
Answer: International Monetary Fund (Short-term loans). - Which organisation provides the Special Drawing Rights?
Answer: IMF (Paper gold). - Who is the President of the World Bank?
Answer: Ajay Banga (Since 2023). - When was the WTO set up?
Answer: 1 January 1995 (Replaced the GATT). - Where is the WTO headquartered?
Answer: Geneva (Switzerland). - Who is the Director-General of the WTO?
Answer: Ngozi Okonjo-Iweala (First woman and first African). - Where is the headquarters of the ADB?
Answer: Manila (Philippines). - Where is the headquarters of the AIIB?
Answer: Beijing (China). - Where is the headquarters of the New Development Bank?
Answer: Shanghai (BRICS bank). - Where is the headquarters of OPEC?
Answer: Vienna (Founded in 1960). - Where is the headquarters of the OECD?
Answer: Paris (Founded in 1961). - Which organisation is the central bank of the central banks?
Answer: Bank for International Settlements (BIS) (Basel). - Which organisation holds the annual meeting at Davos?
Answer: World Economic Forum (Geneva). - Which agreement was replaced by the WTO?
Answer: GATT (1947). - Which Indian was the first President of the NDB?
Answer: K. V. Kamath (BRICS bank). - Which country held the G20 presidency in 2023?
Answer: India (New Delhi Summit). - Where is the headquarters of the ASEAN?
Answer: Jakarta (Indonesia).
How to Practise This Topic
- Make a table with the organisation, the year, the headquarters and the head.
- Group the headquarters by the city and learn each group.
- Revise the heads and the latest news the day before the exam.
- Attempt the practice questions without looking at the answers.
- Solve the SSC practice papers and the previous year papers for the economy pattern.
Related Notes and Practice
- Capital Market, Money Market and SEBI Notes
- RBI and Monetary Policy Notes
- Fiscal Policy, Budget and Deficits Notes
- Summits 2026: G20, BRICS and SCO Notes
- Indian Economy Notes
- SSC practice papers
Frequently Asked Questions
What is the IMF?
The International Monetary Fund (IMF) is an international organisation, headquartered in Washington, D.C., that works for the global monetary stability and gives short-term loans to the countries with the balance-of-payments problems.
What is the difference between the IMF and the World Bank?
The IMF takes care of the monetary stability and the short-term balance-of-payments problems, while the World Bank gives the long-term loans for the development projects.
When was the WTO established?
The World Trade Organization was established on 1 January 1995 and replaced the GATT. Its headquarters is in Geneva.
Who is the head of the World Bank?
Ajay Banga is the President of the World Bank Group since June 2023.
What is the New Development Bank?
The New Development Bank (NDB) is the BRICS bank, started in 2015, with its headquarters in Shanghai.
What are SDRs?
Special Drawing Rights are the international reserve assets created by the IMF; they are also called "paper gold".
Which organisation is the central bank of the central banks?
The Bank for International Settlements (BIS) in Basel, Switzerland is called the central bank of the central banks.
Is India a member of OPEC?
No. India is not a member of OPEC or the OECD.
What is the role of India in the AIIB?
India is the second-largest shareholder of the Asian Infrastructure Investment Bank after China.
Which G20 summit was held in India?
The G20 summit was held in New Delhi on 9 and 10 September 2023 under the Indian presidency.
How many questions come from the international organisations in SSC exams?
Usually 1 to 3 questions come from the international organisations in each SSC exam.
How can I prepare this topic quickly?
Make a table of the year, the headquarters and the head for each organisation, learn the groups of the cities and solve the MCQs.
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Rahul Kumar
SSC Exam Expert & Content Editor
Rahul is a senior SSC exam strategist with 8+ years of experience helping aspirants crack CGL, CHSL and MTS exams. He writes in-depth notification breakdowns, exam pattern guides and preparation strategies.