Question

world bank
the world bank is a vital source of financial and technical assistance to developing countries around the world. it is not a bank in the common sense. it plays a different but supportive role in its mission of global poverty reduction and the improvement of living standards. it provides low - interest loans, interest - free credit, and grants to developing countries for education, health, infrastructure, communications, and many other purposes.
according to the excerpt, what is the organization’s primary purpose?

• to serve as a banking institution for countries that do not have banking systems
• to reduce global poverty and improve the standard of living in developing countries
• to provide loans directly to people living in poverty
• to provide technical assistance to developed countries

think about what makes developed and developing economies different. think about what the world bank would aim for when assisting developing economies.

Explanation:

The excerpt states the World Bank's mission is global poverty reduction and improving living standards in developing countries. The option "to reduce global poverty and improve the standard of living in developing countries" matches this description. Other options are incorrect: it's not a regular bank for underbanked countries, doesn't lend directly to poor people, and provides assistance to developing (not developed) countries.

Answer:

B. to reduce global poverty and improve the standard of living in developing countries (assuming the second option is labeled B; if options are unlabeled, identify as the second option from the left)