Consider the following statement about the World Bank and identify the correct statement

1. It is part of the World Bank group.

2. It comprises two institutions: the International Bank for Reconstruction and Development, and the International Development Association.

3. Each member state of IDA should also be a member of the International Monetary Fund (IMF) 

1
Only 1 is correct
2
Only 3
3
Both 1 and 2 
4
Both 1 and 3

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