The World Bank

Another international financial institution created after World War II was the World Bank. The Bank is capitalized by high-income nations that subscribe in proportion to their economic importance in terms of GDP and other factors. The Bank makes long-term low interest loans to countries for projects which are economically sound but which cannot get private sector financing. As a result of such long-term loans. goods and services flow from advanced nations t? developing countries. In 1999,the World Bank group had outstanding loans in developing countries of $119 billion and made new loan commitments of $22 billion.

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