Question on: WAEC Economics - 2018
The International bank for reconstruction and development (IBRD) performs the following functions except?
A
granting long-term loans
B
assisting with technical expertise
C
reducing tariff among members
D
developing human resource
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Correct Option: C
TheThe International bank for reconstruction and development (IBRD), now known as The World Bank provides low-interest loans, interest-free credit, and grants. It focuses on improving education, health, and infrastructure. It also uses funds to modernize a country's financial sector, agriculture, and natural resources management.
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