Difference Between the World Bank and UNDP (Class 10)

For class 10 students, Development is considered as an important chapter in Economics.

This article will highlight the key differences between the World Bank and the UNDP (United Nations Development Programme).

But, before proceeding further, I would like to make you familiar with the key terms used in this article.

• World Bank: World Bank is a financial institution situated in Washington DC. It provides loans to low or middle-income countries to complete their pursuing projects.

• UNDP: UNDP is the United Nation’s global development network which promotes technical and investment cooperation among nations and connects countries to knowledge, experience, and resources to help people build a better life for themselves.

I’ve decided to provide you with the key differences between the World Bank and the UNDP and put them all in tabular format.

Key Differences Between the World Bank and UNDP

World Bank	UNDP
World Bank was established in the year 1944.	UNDP was established in the year 1965.
It was set up with the purpose to provide loans to countries whose infrastructure was destroyed by the war.	It was set up to help countries, eliminate poverty and achieve sustainable human development.
The World Bank gives a report on the basis of the World Development Report.	The UNDP gives a report on the basis of the Human Development Report.
The main criteria used by the World Bank to publish World Development Report is its per capita income.	The main criteria used by UNDP to publish Human Development Report are the income, education and health of people.

That’s it.

Final Words

So, that’s all.

All the important differences between the World Bank and UNDP from Chapter 1 Development as per the NCERT class 10 are listed above in the table format.

If you have any related queries or suggestions, feel free to let me know in the comments right now.

Sources:

• NCERT – Development