How does the World Bank classify countries?

Question

Quizplus · Accepted Answer

The World Bank classifies countries based on their income level and region. This classification is used to design development strategies and allocate resources accordingly. The income levels are classified as low-income, middle-income, and high-income. Within each income level, countries are classified based on their region, such as Sub-Saharan Africa, East Asia and Pacific, Europe and Central Asia, Latin America and the Caribbean, Middle East and North Africa, and South Asia.

How Does the World Bank Classify Countries