Read the passage given below and answer the following question.

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.

The stringent conditions attached to the loans given by world bank is called

Structural Adjustment Program

The correct answer is Option (3) - Structural Adjustment Program

The stringent conditions attached to loans given by the World Bank and similar international financial institutions are commonly referred to as "structural adjustment programs" (SAPs). These programs typically require borrowing countries to implement a series of economic policy reforms, such as austerity measures, privatization of state-owned enterprises, trade liberalization, and deregulation, aimed at improving macroeconomic stability and promoting economic growth. However, they have been criticized for their social and environmental impacts and their potential to exacerbate inequalities.