Question

how does World Bank and IMF was set up?

Answer 1

Dear Student

World Bank was set up at 1944 Bretton Woods Conference along with International Monetary Fund. It is based in Washington D.C. World Bank is an international financial institution which gives loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.The most recent stated goal of World Bank is reduction of poverty.

International Monetary Fund ( IMF) was established in 1944. It is an international organisation of 189 countries.The IMF's primary purpose is to ensure the stability of the international monetary system.


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