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JAMB Economics 2009 Question 38

Question 38

International Economic Organisations

An important function of the World Bank is to

  1. A.provide short-run loans to members
  2. B.encourage trade between members
  3. C.promote capital-intensive production
  4. D.provide long-term loans to members
Show the answer and explanation

Answer: D (provide long-term loans to members)

Explanation

The World Bank gives long-term loans for development projects; short-term balance of payments help comes from the IMF.