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WAEC Economics 2020 Question 49

Question 49

International Economic Organisations

The foremost objective of the International Bank of Reconstruction and Development (IBRD) is to

  1. A.help promote private and public investments.
  2. B.assist members achieve balance of payments stability.
  3. C.grant long term loans for infrastructure.
  4. D.maintain stability of foreign exchange.
Show the answer and explanation

Answer: C (grant long term loans for infrastructure.)

Explanation

The World Bank's main work is long-term lending for development projects such as infrastructure.