which of the following is a benefit to a member country of World Bank?

Analyze the question: The question asks which option is a benefit a country gets from being a member of the World Bank (the International Bank for Reconstruction and Development, IBRD).

Explain the concept: The World Bank's main job is to give long-term loans and technical assistance to member countries for development and reconstruction. These loans fund projects such as roads, power, schools, hospitals and agriculture. The World Bank is different from the IMF, which handles short-term balance of payments problems and exchange rate stability.

Solution: check each option

• A. Easy access to long term loans: This is correct. Member countries can borrow on favourable terms for long-term development projects, which is the core purpose of the World Bank.
• B. Management of foreign exchange: This is an IMF function, so it is not the best answer.
• C. Mediating in labour dispute: This is the role of the International Labour Organization (ILO) or national labour ministries and tribunals, not the World Bank.
• D. Financing balance of payment deficit: This is an IMF function, since the IMF gives short-term help for balance of payments problems.

Exam tip: Remember the difference with this pair:

• World Bank = long-term loans for development projects.
• IMF = short-term help for balance of payments and exchange rate stability.

If a question mentions "long-term", "development" or "reconstruction", think World Bank. If it mentions "balance of payments" or "foreign exchange", think IMF.