Question

According to the text, how does the World Bank receive its funding?

private donations from wealthy individuals

donations from the world’s wealthiest countries

taxes and tariffs on goods traded between nations
June 25, 2004, marked the 58th anniversary of the World Bank, which opened its doors in Washington, DC, in 1946. The International Bank for Reconstruction and Development, as it was initially called, was created at the Bretton Woods Conference in July 1944, along with its sister institution, the International Monetary Fund. At the outset, the bank’s dual roles were reconstruction and development, as implied by its original name. Its primary function was to reconstruct Europe after World War II. However, unlike other specialized United Nations (UN) agencies the bank raised funds through private financial markets and received donations on a regular basis from the world’s wealthiest countries. With these funds, it provided interest-bearing and interest-free loans, credits, grants, and technical assistance to war-damaged and economically developing countries that could not afford to borrow money in international markets. These activities are ongoing, making the bank the “world’s premier economic multilateral” institution.

Answer 1

donations from the world’s wealthiest countries

The passage states the bank “raised funds through private financial markets and received donations on a regular basis from the world’s wealthiest countries.”