When the Bretton Woods participants established the World Bank, the ne

QUESTION

When the Bretton Woods participants established the World Bank, the need to lend money to third-world nations was foremost in their minds.

Indicate whether the statement is true or false.

ANSWER

FALSE
When the Bretton Woods participants established the World Bank, the need to reconstruct the war-torn economies of Europe was foremost in their minds. The bank’s initial mission was to help finance the building of Europe’s economy by providing low-interest loans.