International bank for reconstruction and development was formed
primarily serves to loan funds to underdeveloped and developing
nations.
<h3>What is a Loan?</h3>
Loan involves lending money to an individual or organization. This is also
referred to a form of debt accrued through this process.
Developed nations established International bank for reconstruction and
development in 1946 to loan funds to underdeveloped and developing
nation. The funds are used to finance projects ranging from road and
factory construction to the building of medical and educational facilities.
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