Why is the World Bank’s role crucial in developing countries?

The World Bank's role is crucial in developing countries primarily because it focuses on providing assistance for poverty reduction and development. This involves financing various projects aimed at improving infrastructure, education, healthcare, and overall economic growth, which are vital for lifting populations out of poverty. Through loans, grants, and expert advice, the World Bank supports countries in creating sustainable development strategies that address the specific needs of their communities.

By concentrating on poverty reduction, the World Bank helps to enhance living standards and supports long-term economic stability, which is essential for countries striving to increase their global competitiveness. The focus on development through poverty reduction initiatives makes the World Bank a key player in helping nations achieve sustainable progress.