Which organization provides loans and grants to the world's poorest developing countries?

Correct option is C

Correct Answer: (c) World Bank

Explanation:
The World Bank is an international organization that provides loans and grants to the world's poorest developing countries to reduce poverty and support economic development. The World Bank consists of five institutions, including the International Development Association (IDA), which focuses on providing interest-free loans and grants to the world's poorest nations.

Its mission is to fund projects and initiatives in areas such as education, healthcare, infrastructure, and sustainable development to promote economic growth and improve living standards.

Knowledge Booster:
● The World Bank was established in 1944 and is headquartered in Washington, D.C., USA.
● The IDA focuses specifically on the poorest countries, while the International Bank for Reconstruction and Development (IBRD) supports middle-income and creditworthy low-income countries.
● The World Bank often collaborates with other global organizations, including the International Monetary Fund (IMF).
● Its goal aligns with the United Nations Sustainable Development Goals (SDGs) to eradicate poverty by 2030.
● Current World Bank funding priorities include climate change mitigation, gender equality, and access to clean water.

Additional Information:
● World Trade Organization (Option a): Manages global trade rules but does not provide loans or grants.
● United Nations (Option b): Focuses on peace, security, and humanitarian efforts but does not primarily fund development projects.
● International Monetary Fund (Option d): Provides financial assistance and policy advice to stabilize economies but focuses more on balance-of-payments issues than long-term development.