What is the World Bank and what are its missions and loan types?
Understand the Problem
The question is asking for information about the World Bank, including its mission, types of loans, and affiliated entities. It seeks to understand the structure and purpose of the World Bank as an international financial institution.
Answer
The World Bank provides financial and technical support to developing countries to reduce poverty and improve living standards. Established in 1944, it offers investment loans and development policy loans.
The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development programs. It was established in 1944. Its mission is to reduce poverty globally and improve living standards. The World Bank offers two main types of loans: investment loans (to support economic and social development projects) and development policy loans (quick-disbursing finance to support countries).
Answer for screen readers
The World Bank is an international financial institution that provides financial and technical assistance to developing countries for development programs. It was established in 1944. Its mission is to reduce poverty globally and improve living standards. The World Bank offers two main types of loans: investment loans (to support economic and social development projects) and development policy loans (quick-disbursing finance to support countries).
More Information
The World Bank is part of the Bretton Woods Institutions formed after WWII, with the primary goal of rebuilding war-torn Europe. Over time, its focus shifted to global poverty alleviation and development.
Tips
A common mistake is to confuse the World Bank with the International Monetary Fund (IMF). While both provide financial aid, the World Bank focuses on long-term development projects, whereas the IMF deals with short-term economic stability.
Sources
- What We do - World Bank - worldbank.org
- What Is the World Bank, and What Does It Do? - Investopedia - investopedia.com
- World Bank - Wikipedia - en.wikipedia.org
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