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Q.

The ____ was created in 1944 to reduce poverty and increase shared prosperity by working with developing countries.


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Detailed Solution

The World Bank was created in 1944 to reduce poverty and increase shared prosperity by working with developing countries. It was established at the financial conference of the Bretton Woods system held in 1944 to ensure the stability of the economy and to bring orderly development to the world economy in the post-World War II era. The Bretton Woods system worked according to the fixed exchange rate. All these arrangements were made after World War II because the war caused immense economic devastation and social disruption.
 
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