(i) International Development Association (IDA, 1960)
(ii) International Finance Corporation (IFC, 1956)
(iii) Multilateral Investment Guarantee Agency (MIGA, 1958)
(iv) International Centre for Settlement of Investment Disputes (ICSID, 1966)

The SAARC Secretariat was established in Kathmandu (Nepal) on 16^th January 1987.

(i) Free trade area is the region around a trade bloc whose member countries have signed a free-trade agreement.
(ii) Such agreements involve cooperation between at least two countries to reduce trade barriers. e.g. SAFTA, EFTA.

(i) Common market is established through trade pacts.
(ii)  A group formed by countries within a geographical area to promote duty free trade and free movement of labour and capital among its members.

1. Loans out of its own fund.
2. Loans out of borrowed capital and
3. Loans through Bank's guarantee.

(i) To accelerate the economic growth, social progress and cultural development in the region.
(ii) To promote regional peace and stability and adherence to the principles of the UN Charter.

(i) Also called 'Paper Gold', SDR is a form of international reserves created by the IMF in 1969 to solve the problem of international liquidity.
(ii) They are allocated to IMF members in proportion to their quotas.
(iii) It is used as a means of payment to meet balance of payments deficits.