World Bank loans are divided into project loans, non-project loans, departmental loans, joint loans and third window loans, among which project loans are the main part of the World Bank loan business (a mistake). The World Bank loan has the following characteristics: ① The loan term is long, usually several years, the longest is 30 years, and the grace period is 5 years (B error). (2) The loan is subject to floating interest rate, which is adjusted regularly with the change of financial market interest rate, but generally lower than the market interest rate (DE error). (3) Generally, the World Bank only provides the foreign exchange needed for goods and services for its funded projects, accounting for about 30%~40% of the total projects, and individual projects can reach 50%(C is correct). ④ The loan procedures are strict and the approval time is long. From the project proposal to the final signing of the loan agreement with the World Bank, it usually takes a year and a half to two years for the borrower to obtain funds. Because of the strict loan conditions and relatively high loan interest rate, World Bank loans are called hard loans. Loans with preferential interest rates issued by the International Development Association are called soft loans.