The correct option is I and III only because the International Bank for Reconstruction and Development (IBRD) primarily provides financial products, such as loans and guarantees, to middle-income and creditworthy low-income countries to promote development initiatives. It was indeed established in 1944 to facilitate Europe’s reconstruction after World War II, which underscores its historical context and mission. However, statement II is incorrect as the IBRD operates in conjunction with other institutions like the International Development Association (IDA) and leverages partnerships to address poverty reduction in developing countries, rather than working alone. This distinction highlights the collaborative framework of international financial institutions in development efforts, a key concept in understanding global economic systems as outlined in standard UPSC reference materials.