Which among the following statements is not correct with respect to the World Bank?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → The World Bank was created after the Second World War in 1946.
Option (1) The World Bank was created after the Second World War in 1946. False. The World Bank was created during the Second World War in 1944.
Option (2) It provides loans and grants to the member-countries. True.
Option (3) It works for human development, agriculture and rural development, environmental protection, infrastructure and governance. True.
Option (4) It exercises enormous influence on the economic policies of developing countries. True.
NCERT (2025-26): “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), 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.” |