Q1. What is World Bank?
The World Bank is like a co-operative bank represented by 189 countries. Its not like a normal commercial bank where a common man can open a saving bank account. Established in 1944, the World Bank Group is headquartered in Washington, DC; having 10,000+ employees in more than 120 offices worldwide.
The World Bank lends money to countries which have Gross National Income (GNI) below certain thresholds. The bank give money for development projects and for reduction of poverty.
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