Consider the following statements in respect of the International Bank for Reconstruction and Development (IBRD) : 1. It provides loans and guarantees to middle income countries. 2. It works single-handedly to help developing countries to reduce poverty. 3. It was established to help Europe rebuild after the World War II. Which of the statements given above are correct?

Option (c) is correct because the IBRD was established in 1944 to reconstruct post-WWII Europe (Statement 3) and currently provides financial assistance to middle-income and creditworthy low-income countries (Statement 1). Statement 2 is incorrect because the IBRD does not work "single-handedly"; it is part of the World Bank Group and collaborates with other institutions like the IDA and IFC to achieve its goals. The core concept tested is the mandate, history, and institutional structure of the World Bank Group.