World Bank is an international financial institution that provides loans to countries of the world for capital programs. Which of the following was the first country to receive a loan from the World Bank?

India

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Poland

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France

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Russia

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Solution

The correct option is D France
World bank is affiliated to the UN and is designed to aid financially to enhance the economic development of the member states. It's headquarter is in Washington D.C. it officially began its operation in June 1946. Its first loan was granted to France.

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Similar questions

World Bank is an institution which provides loans to countries.

Q24. Consider the following statements about Credit Crunch:

1. An economic situation where banks and other financial institutions become extremely reluctant to provide loans to businesses.

2. An economic crisis where countries are not able to get funding from World Bank.

3. It also known as credit squeeze.

Which of the above statements are correct?

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