Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing development projects.
The IMF is an international organization that aims to promote global economic stability by providing financial assistance, policy advice, and technical expertise to its member countries during times of economic crisis.
Development Projects: These are initiatives undertaken by governments or organizations with the goal of improving living conditions, infrastructure, or economic opportunities in a specific region or country.
Poverty Alleviation: This term refers to efforts aimed at reducing or eliminating poverty through various means such as income redistribution, social programs, and economic development strategies.