Which one of the following international organizations provides financial assistance and technical expertise to developing countries, including India, to support various developmental projects?
The World Trade Organization
The World Bank
The International Monetary Fund
The Asian Development Bank
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UPSC Combined Section Officer – 2019-20
The World Bank Group is a family of five international organizations that make leveraged loans to developing countries. The two most prominent components are the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The World Bank’s primary focus is poverty reduction and promoting shared prosperity by providing financial support, policy advice, and technical assistance for development projects in areas like infrastructure, education, health, and environmental sustainability.