World Bank Development Criteria
World Bank uses per capita income as the base for measuring the economic development of any country.
Factors of world bank criteria
- National income
- Per capita income
- Gross Domestic Product (GDP): It takes into account the quantitative aspect of development and does not give a broader prospective about the notion of development.
In what respects is the criterion used by the UNDP for measuring development different from the one used by the World Bank?
There are certain criteria used by the UNDP and the World Bank to measure the development of any country. In this article, we have described some of the most important criteria that UNDP and World Bank checks for measuring the development level of any country. It is to note that the criteria used by UNDP is a little different from the one used by World Bank.
Table of Content
- 1. United Nations Development Programme Criteria
- 2. World Bank Development Criteria
- Conclusion
UNDP: The United Nations Development Programme (UNDP) established in 22 November 1965, is a United Nations agency with goal of helping other countries eliminate poverty and achieve sustainable economic growth and human development. It publishes an annual Human Development Index report.
World Bank: The World Bank is an international financial institution that provides money and financial assistance (in terms of loans and grants) to the governments of low and middle-income countries for the purpose of pursuing capital projects.