gs1medium
“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
▶ Answer & Explanation
Correct answer: B. International Monetary Fund
The International Monetary Fund (IMF) provides financial assistance to member countries facing balance of payments problems. The Rapid Financing Instrument (RFI) and Rapid Credit Facility (RCF) are two such facilities offered by the IMF, designed to help countries with urgent balance of payments needs, particularly those arising from commodity price shocks, natural disasters, or other severe economic disturbances.
Source: UPSC gs1 2022