Adapting to the times and the WTO

Watch the video and then summarise what you have learned.

As mentioned earlier, the main function of the WBG is to eliminate poverty and to provide assistance to the poor by offering loans, policy advice, and technical assistance. As such, the country is receiving aid are learning new ways function.

Over time, however, it’s been realised that sometimes, as a nation develops, it requires more aid to work its way through the development process. This has resulted in some countries accumulating so much debt and debt service that payments become impossible to meet. Many of the poorest countries can receive accelerated debt relief through the heavily indebted poor country scheme which reduces debt and debt service payments while encouraging social expenditure.