the world bank was established to reduce poverty and promote economic development: a. in asia through - brainly.com (2024)

FAQs

What is the purpose of the World Bank? ›

The World Bank is an international development organization owned by 187 countries. Its role is to reduce poverty by lending money to the governments of its poorer members to improve their economies and to improve the standard of living of their people.

Our Mission. Our mission is to end extreme poverty and boost shared prosperity on a livable planet. This is threatened by multiple, intertwined crises. Time is of the essence.

The World Bank is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement. The bank predominantly acts as an organization that attempts to fight poverty by offering developmental assistance to middle- and low-income countries.

The World Bank supports investments in countries that underpin long-term growth and that help to meet the needs of their citizens. We work with policy makers to develop markets, institutions, and economies that are stable, equitable, and efficient.

The World Bank Group is committed to fighting poverty in all its dimensions. We use the latest data, evidence and analysis to help countries develop policies to improve people's lives, with a focus on the poorest and most vulnerable.

The World Bank Group is a partner in opening markets and strengthening economies. Its goal is to improve the quality of life and increase prosperity for people everywhere, especially the world's poorest.

Three priorities guide our work with countries to end poverty and boost prosperity for the poorest people. Helping create sustainable economic growth, investing in people and building resilience to shocks and threats that can roll back decades of progress.

The World Bank management's Evolution Roadmap suggests the institution is reconsidering its 'twin goals' mission statement of eradicating extreme poverty (ending $2.15 poverty by 2030) and boosting shared prosperity (raising the incomes of the bottom 40 percent in each country).

The Bank Group has set two goals for the world to achieve by 2030: ending extreme poverty and promoting shared prosperity. These goals need to be pursued in a sustainable manner: socially, economically, and environmentally.

The five United Nations member states that are not members of the World Bank are Andorra, Cuba, Liechtenstein, Monaco, and North Korea. Kosovo is not a member of the UN, but is a member of the IMF and the World Bank Group, including the IBRD and IDA.

Who is the top borrower of the World Bank? ›

Pakistan was the top borrower of the World Bank's International Development Association (IDA) for the fiscal year 2023, receiving $2.305 billion, as per the bank's annual report. Bangladesh and Tanzania took the second and third spots, borrowing $2.3 billion and $2.135 billion respectively.

The World Bank Group has two ambitious goals: End extreme poverty within a generation and boost shared prosperity.

We provide low-interest loans, zero to low-interest credits, and grants to developing countries. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management.

Headquartered in Washington, D.C., the bank is the largest source of financial assistance to developing countries. It also provides technical assistance and policy advice and supervises—on behalf of international creditors—the implementation of free-market reforms.

The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment.

The World Bank uses trust funds, a financing arrangement set up with contributions from one or more development partners, to complement core funding from the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA) to help attain its institutional goals.

The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial or membership issues.

Enhanced Support for the Poorest: The World Bank must continue to pay sufficient attention to the needs of the poorest and most vulnerable countries, which are facing multiple, compounding crises, including those stemming from global challenges.