Question

What does the World Bank do with its funds?
Check all of the boxes that apply.

gives interest-free loans to struggling nations

provides technical assistance to war-damaged countries

resolves trade disputes 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

- [x] gives interest-free loans to struggling nations
- [x] provides technical assistance to war-damaged countries
- [ ] resolves trade disputes between nations

Explanation: The passage says the World Bank provided interest-bearing and interest-free loans, credits, grants, and technical assistance to war-damaged and developing countries. Resolving trade disputes is not listed (that role is typically handled by the WTO).