The World Bank was set-up to
(a) finance rehabilitation of refugees.
(b) finance post war construction.
(c) finance industrial development.
(d) help third world countries
Answers
Answer:
answer is (b) finance post war construction
Explanation:
given in page 99 of history textbook
4th paragraph
Answer:
b) finance post war construction
Explanation:
The International Bank for Reconstruction and Development, later known as the World Bank, was established in 1944 and has since grown to include a group of five development organizations that are closely related. Initially, its loans supported the post-World War II reconstruction of damaged nations. With time, attention turned from reconstruction to development, with a strong emphasis on infrastructure like highways, dams, and electricity and irrigation systems. The ability to lend to private businesses and financial institutions in developing nations was granted with the establishment of the International Finance Corporation in 1956. Additionally, the International Development Association was established in 1960, which contributed to a gradual shift in the Bank Group's priorities toward making the eradication of poverty its top priority.
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