Economy
2022
Basic Economic Terms
"Rapid Financing Instrument" and "Rapid Credit Facility" are related to the provisions of lending by which one of the following?
D.World Bank
B.International Monetary Fund
A.Asian Development Bank
C.United Nations Environment Programme Finance Initiative
Correct Answer: Option B
The Rapid Financing Instrument (RFI) and Rapid Credit Facility (RCF) are lending provisions of the International Monetary Fund (IMF).
The RFI provides quick financial assistance to member countries facing urgent balance of payments needs. This assistance is disbursed rapidly and does not require a full-fledged economic program.
The RCF offers concessional financial assistance to low-income countries (LICs) facing similar urgent needs.
Hence, the correct answer is (b) International Monetary Fund.
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