How can the International Bank for Reconstruction and Development (World Bank) contribute to the economic development of your country?

Answer Details

The International Bank for Reconstruction and Development (the World Bank) can help the economic development of a country in the following ways:

• Provision of long-term loans: it lends money at moderate interest to finance development projects.
• Financing infrastructure: it funds roads, dams, power stations, water supply and similar projects that support growth.
• Technical assistance and advice: it provides experts to plan and supervise projects and to advise on economic policy.
• Feasibility studies: it helps investigate whether proposed projects are viable before funds are committed.
• Capacity building and training: it helps train personnel and strengthen local institutions.
• Support for key sectors: it channels funds into agriculture, education and health to raise productivity and welfare.
• Encouraging further investment: its involvement gives confidence that attracts other lenders and investors.