Practicing Success
Which of the following organization provides funds and grants to member countries for human development (education and health), agriculture and rural development, infrastructure and environment protection? |
WTO World Bank IMF UNO |
World Bank |
The correct answer is Option (2) → World Bank The World Bank was created during the Second World War in 1944. Its activities are focused on the developing countries. It works for human development (education, health), agriculture and rural development (irrigation, rural services), environment protection (pollution reduction, establishing and enforcing regulation), infrastructure (roads, urban regeneration, electricity) and governance (anti-corruption, development of legal institutions). It provides loans and grants to the member-countries. In this way, it exercises enormous influence on the economic policies of developing countries. It is often criticised for setting the economic agenda of the poorer nations, attaching stringent conditions to its loans and forcing free market reforms. |