Question

Mention any two important functions of the World Bank.

Hint:

Remember: The World Bank’s main goals are \textbf{poverty reduction} and \textbf{development support} in developing countries.

Answer 1

The World Bank is an international financial institution that provides loans, grants, and technical assistance to developing countries with the aim of reducing poverty and promoting sustainable development. Two of its important functions are:
1. Providing Financial Assistance:
- The World Bank gives loans and grants to developing countries for infrastructure development such as building roads, schools, hospitals, irrigation systems, and power plants.
- This financial support helps in economic growth and improving the quality of life in poor nations.
2. Promoting Development and Reducing Poverty:
- The World Bank designs projects to improve education, healthcare, agriculture, and rural development.
- It works to reduce poverty by creating job opportunities, ensuring food security, and promoting sustainable development practices.
Conclusion:
Thus, the World Bank plays a key role in financing and supporting development projects, which directly helps in reducing poverty and promoting global economic stability.