What is the primary role of the World Bank in global development?

The primary role of the World Bank in global development is to provide assistance for poverty reduction and sustainable projects. Established to facilitate economic development, the World Bank provides financial and technical assistance to countries for development programs that are expected to improve the economic prospects and quality of life for people in those regions. This assistance often includes funding for infrastructure projects, educational initiatives, and health programs, all aimed at minimizing poverty and enhancing living standards.

This focus on sustainable projects emphasizes the importance of preventing environmental degradation while promoting economic growth, thus ensuring that development is both effective in the short term and sustainable in the long term. By offering loans, grants, and expertise, the World Bank aims to empower countries to improve their own development strategies while addressing immediate challenges related to poverty and inequality.