Which organization was created to assist developing nations by providing loans guaranteed by member governments?

Which organization was created to assist developing nations by providing loans guaranteed by member governments?

• A. International Monetary Fund
• B. World Bank
• C. World Trade Organization
• D. United Nations Development Programme

Answer: (B)

The World Bank was established with the primary goal of providing financial and technical assistance to developing countries to help reduce poverty and promote sustainable economic development. It offers loans and grants to these nations for projects that are expected to improve their financial stability and development prospects. The loans provided by the World Bank are often guaranteed by the member governments, which enables the organization to support various initiatives aimed at enhancing infrastructure, health, education, and other critical areas necessary for economic growth. This organization plays a vital role in addressing the specific needs of developing nations and facilitating their integration into the global economy. By offering financial resources and expertise, the World Bank aims to create conditions conducive to long-term economic sustainability and social development in member countries.

The World Bank was established with the primary goal of providing financial and technical assistance to developing countries to help reduce poverty and promote sustainable economic development. It offers loans and grants to these nations for projects that are expected to improve their financial stability and development prospects. The loans provided by the World Bank are often guaranteed by the member governments, which enables the organization to support various initiatives aimed at enhancing infrastructure, health, education, and other critical areas necessary for economic growth.

This organization plays a vital role in addressing the specific needs of developing nations and facilitating their integration into the global economy. By offering financial resources and expertise, the World Bank aims to create conditions conducive to long-term economic sustainability and social development in member countries.