1 mark for each valid description.
Model answer:
a) The World Trade Organisation encourages free trade by working to lower trade barriers among its member countries (1). It also provides a platform for mediating trade disputes between nations, offering a neutral conflict resolution process (1).
b) The International Monetaru Fund promotes international economic cooperation by monitoring global economic and financial events and providing advisory services to member countries (1). It also make funds available to countries facing economic difficulties, acting as a “lender of last resort” to prevent government debt defaults and meet balance of payments needs (1).
c) The World Bank’s main role is to support economic development and reduce poverty in developing nations (1). It provides financial assistance through various mechanisms, including low-interest rates, zero-interest credits, and grants (1).