Asked by Becca Moore on Jul 25, 2024
Verified
What are the two divisions of the World Bank? What do they do?
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.
Divisions
Subsections of a larger organization, each focusing on a specific area of operation or market.
- Identify the function of global organizations and initiatives in fostering economic growth in developing nations.
Verified Answer
TA
Tatin AmoyoJul 26, 2024
Final Answer :
The two divisions of the World Bank are the International Finance Corporation (IFC)and International Development Association (IDA). The IFC loans money to private enterprises within the DVCs. The IDA grants money that does not have to be paid back to the poorest DVC governments in addition to issuing them "soft loans" that have generously low interest rates and extended payout periods.
Learning Objectives
- Identify the function of global organizations and initiatives in fostering economic growth in developing nations.
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