World Bank plays a major role of providing loans for development projects to member countries, especially to underdeveloped countries. The World Bank offers long-term loans for various development projects ranging from 5 to 20 years duration.
The main functions of world bank can be summed up in the following points:
a) World Bank provide technical support and services to member countries. For this reason, the Bank has established "the Economic Development Institute" and a staff college in Washington.
b) Bank lend loans to member countries upto 20% of it's share in paid-up capital.
c) The World Bank determines the amount of loan to grant, interest rate and terms and conditions.
d) World Bank can grant loans for a given project which has duly been submitted to the Bank by a member country.
e) Bank also issues loan to private investors from member countries on its own guarantee. For this loan private investors have to seek prior authorization from those countries where to collect the amount.
? Providing finances to reduce budgetary deficits
? Provide loans for development projects.
? Provide finance to correct and adverse balance of payments.
? Provide technical expertise to support developmen
Kiiti answered the question on November 11, 2017 at 19:10
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