India borrows from the World Bank through International Bank for Reconstruction and Development (IBRD) and International Development Association(IDA). Consider the following statements in this context:

  1. IDA funds are one of the most concessional external loans,
  2. IBRD funds are costlier and at par with the commercial external borrowings in terms of interest rates
  3. IDA loans are used largely Infrastructure projects

Which among the above statements is/ are correct?

[A] 1 Only
[B] 1 & 2 only
[C] 1, 2 & 3
[D] 2 & 3 only
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