The correct answer is Option 1: I, II, and III.

I. International Bank for Reconstruction and Development (IBRD):

The International Bank for Reconstruction and Development (IBRD) is one of the five institutions that make up the World Bank Group. It was established in 1944 and is focused on providing loans and development assistance to middle-income and creditworthy low-income countries. The IBRD`s primary goal is to reduce poverty and promote sustainable economic development.

II. International Finance Corporation (IFC):

The International Finance Corporation (IFC) is another institution within the World Bank Group. It was created in 1956 and is responsible for promoting private sector investment in developing countries. The IFC provides loans, equity investments, and advisory services to support private sector projects that have developmental impact, such as infrastructure development, job creation, and poverty reduction.

III. International Development Association (IDA):

The International Development Association (IDA) is also a part of the World Bank Group. It was established in 1960 and focuses on providing grants and low-interest loans to the world`s poorest countries. The IDA helps these countries implement projects and programs that address poverty, improve access to basic services, and promote economic growth.

IV. International Monetary Fund (IMF):

Although the International Monetary Fund (IMF) is a well-known international financial institution, it is not part of the World Bank Group. The IMF is a separate organization that works to promote global monetary cooperation, secure financial stability, facilitate international trade, and foster economic growth. It provides financial assistance to countries facing balance of payment problems and offers policy advice and technical assistance to its member countries.

Therefore, the correct answer is Option 1: I, II, and III. The International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), and International Development Association (IDA) are the institutions that constitute the World Bank.