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The World Bank Group is the correct answer because it focuses specifically on providing financing and technical expertise to developing countries with the goal of reducing poverty and promoting sustainable economic development. Established in 1944, its mission is to support projects that improve infrastructure, education, health, and governance across various nations. It offers financial products, grants, and policy advice tailored to the needs of individual countries, which helps foster economic growth and stability.

While the International Monetary Fund is primarily concerned with macroeconomic stability and provides financial assistance for balance of payments issues, it does not focus on long-term development projects in the same way the World Bank does. The European Bank for Reconstruction and Development focuses on projects in Eastern Europe and Central Asia, emphasizing private sector development. The Asian Development Bank also supports economic development in Asia, but the World Bank Group engages with a broader range of countries and development objectives, making it the foremost institution for financing and advice geared towards economic development globally.