Answer the questions based on the image. |
Which among the following is not a criticism of this organisation? |
Setting the economic agenda of the poorer nations Attaching stringent conditions to its loans Forcing acceptance of free market reforms Charging a low rate of interest |
Charging a low rate of interest |
The correct answer is Option (4) → Charging a low rate of interest 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), environmental protection (pollution reduction, establishing and enforcing regulations), 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. |