Which of the following is NOT a function of the World Bank?
A. Providing long-term loans for development projects
B. Poverty reduction initiatives
C. Technical assistance for development
D. Providing short-term balance of payments support
Answer: Option D
Solution (By JKSSB Mock Tests)
Short-term balance of payments support is primarily the function of the IMF. The World Bank focuses on long-term development finance and poverty reduction.
Explanation:
Transfer payments are unilateral payments for which no goods or services are received in return, such as pensions, scholarships and unemployment allowances. Interest on borrowings is also a transfer, but pension is a classic example.
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