Which among the following organization was formed before commencement of the World War II?
[B] Food and Agriculture Organization
[C] International Atomic Energy Agency
[D] Bank for International Settlements
The BIS was formed in 1930. The main actors in its establishment were the then-Governor of The Bank of England, Montagu Norman, and his German counterpart Hjalmar Schacht, later Adolf Hitler’s finance minister. The Bank was originally intended to facilitate reparation payments imposed on Germany by the Treaty of Versailles after the First World War. The need for the bank was suggested in 1929 by the Young Committee, and was agreed to in August of that year at a conference at the Hague. A charter for the bank was drafted at the International Bankers Conference at Baden Baden in November. The charter was adopted at a second Hague Conference on January 20, 1930