Which organization launched 'The Great Reset' initiative for post Covid recovery of economy?

The correct answer is World Economic Forum.

Key Points

• The World Economic Forum (WEF) is an international organization for public-private cooperation.
• WEF was established in 1971 and is based in Geneva, Switzerland.
• The initiative 'The Great Reset' was launched by the WEF in response to the COVID-19 pandemic.
• The goal of 'The Great Reset' is to rebuild economies sustainably and inclusively.
• The initiative focuses on reshaping the global economy to tackle inequalities, climate change, and future pandemics.
• ‘The Great Reset’ emphasizes the need for a new social contract centered on human dignity and social justice.

 Additional Information

• World Trade Organization
  • The World Trade Organization (WTO) deals with the global rules of trade between nations.
  • Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible.
  • The WTO was established on 1 January 1995, replacing the General Agreement on Tariffs and Trade (GATT).
• United Nations
  • The United Nations (UN) is an international organization founded in 1945.
  • It is currently made up of 193 Member States.
  • The UN aims to maintain international peace and security, develop friendly relations among nations, and promote social progress.
• World Bank
  • The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.
  • It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA).
  • The World Bank was created in 1944 during the Bretton Woods Conference.