The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade.

The

organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.

History:
The World Trade Organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (19861994). The organization is attempting to complete negotiations on the Doha Development Agenda, or Doha Round, which was launched in 2001 with an explicit focus on addressing the needs of developing countries. According to a European Union statement, "The 2008 Ministerial meeting broke down over a disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports." The position of the European Commission is that "The successful conclusion of the Doha negotiations would confirm the central role of multilateral liberalization and rule-making. It would confirm the WTO as a powerful shield

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against protectionist backsliding." An impasse remains. As of April 2012, the future of the Doha Round remains uncertain.

Objectives:
Among the various functions of the WTO, these are regarded by analysts as the most important:

It oversees the implementation, administration and operation of the covered agreements. It provides a forum for negotiations and for settling disputes.

Additionally, it is the WTO's duty to review and propagate the national trade policies, and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making. Another priority of the WTO is the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training. The WTO is also a center of economic research and analysis: regular assessments of the global trade picture in its annual publications and research reports on specific topics are produced by the organization. Finally, the WTO cooperates closely with the two other components of the Bretton Woods system, the IMF and the World Bank.

Activities:
The WTO's main activities are: negotiating the reduction or elimination of obstacles to trade (import tariffs, other barriers to trade) and agreeing on rules governing the conduct of international trade (e.g. antidumping, subsidies, product standards, etc.) administering and monitoring the application of the WTO's agreed rules for trade in goods, trade in services, and trade-related intellectual property rights monitoring and reviewing the trade policies of our members, as well as ensuring transparency of regional and bilateral trade agreements settling disputes among our members regarding the interpretation and application of the agreements building capacity of developing country government officials in international trade matters assisting the process of accession of some 30 countries who are not yet members of the organization explaining to and educating the public about the WTO, its mission and its activities.
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European Union
The European Union (EU) is a unique economic and political partnership between 27 European countries that together cover much of the continent.

History:
EU was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries that trade with one another become economically interdependent and so more likely to avoid conflict. Since then, the EU has developed into a huge single market with the euro as its common currency. What began as a purely economic union has evolved into an organization spanning all policy areas, from development aid to environment. It has delivered half a century of peace, stability, and prosperity, helped raise living standards, and launched a single European currency. Thanks to the abolition of border controls between EU countries, people can travel freely throughout most of the continent. And it's also become much easier to live and work abroad in Europe. The EU is based on the rule of law. This means that everything that it does is founded on treaties, voluntarily and democratically agreed by all member countries. These binding agreements set out the EU's goals in its many areas of activity. One of its main goals is to promote human rights both internally and around the world. Human dignity, freedom, democracy, equality, the rule of law and respect for human rights: these are the core values of the EU. Since the 2009 signing of the Treaty of Lisbon, the EU's Charter of Fundamental Rights brings all these rights together in a single document. The EU's institutions are legally bound to uphold them, as are EU governments whenever they apply EU law. As it continues to grow, the EU remains focused on making its governing institutions more transparent and democratic. More powers are being given to the directly elected European Parliament, while national parliaments are being given a greater role, working alongside the European institutions. In turn, European citizens have an ever-increasing number of channels for taking part in the political process.
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Objectives:
3 intermediate objectives milestones towards this goal:
1. Effective application of EU rules on worker protection and equality Promoting better standards of inspection, monitoring and enforcement by EU countries and reviewing how EU legislation has been applied 2. Shared understanding and ownership of EU objectives EU countries have agreed to common guidelines and goals to inform, coordinate and strengthen national-level reforms 3. Effective partnerships Involving stakeholders throughout the policy process: problem definition, information gathering, consultation, development of options, decision-making, implementation and evaluation

5 immediate objectives met throughout the process:

1. Effective information sharing and learning EU and national policy- and decision-makers and stakeholders together identify best practice, and assessment tools to help improve policy-making, implementation processes and outcomes 2. Evidence-based EU policies and legislation Providing high-quality comparative policy research and analysis, collecting information that is relevant, credible and accurate in the interest of stakeholders 3. Integration of cross-cutting issues and consistency Incorporating equality issues (such as gender and disability) into all policy sections and activities and collecting data on gender participation when relevant 4. Greater capacity of national and EU networks Investing in the capacity of national and EU networks to participate in and influence decision-making and policy implementation at EU and national level. 5. High-quality and participatory policy debate Ensuring there is productive debate at EU and national levels on law, policies and objectives, including all those affected.

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Activities:
The EU is active in a wide range of policy areas, from human rights to transport and trade. Agriculture: EU farm policy known as the common agricultural policy ensures adequate European food production goes hand in hand with economically viable rural communities and action on environmental challenges such as climate change, water management, bio energy and biodiversity Audiovisual and Media: Involving big commercial interests and complex issues of cultural diversity, public service and social responsibility, audiovisual policy is formulated at national level by individual governments. The EU's role is to set some basic ground rules and guidelines in defense of common interests, like open EU markets and fair competition. Climate action: It's a proven fact that our climate is changing. We can see it happening in Europe and elsewhere, where temperatures are increasing, rainfall patterns changing, glaciers melting and sea levels rising. More frequent droughts and floods are also taking their toll worldwide. Consumers: The European Union takes great care to protect the health, safety and economic well-being of consumers. It promotes their rights to information and education, helps safeguard their interests and encourages them to set up self-help consumer associations.

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South Asian Free Trade Area

(SAFTA)

The South Asian Free Trade Area or SAFTA is a pact signed in 6 January 2004 that would gradually eliminate most tariffs and other trade barriers on products and services passing between Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Afghanistan and Sri Lanka. The pact would effectively create a free-trade bloc among the eight countries of South Asia.

History
The SAFTA agreement came into force on 1 January 2006 and is operational following the ratification of the agreement by the seven governments. SAFTA requires the developing countries in South Asia (India, Pakistan and Sri Lanka) to bring their duties down to 20 percent in the first phase of the two year period ending in 2007. In the final five year phase ending 2012, the 20 percent duty will be reduced to zero in a series of annual cuts. The least developed nations in South Asia (Nepal, Bhutan, Bangladesh, Afghanistan and Maldives) have an additional three years to reduce tariffs to zero. India and Pakistan ratified the treaty in 2009, whereas Afghanistan as the 8th member state of the SAARC ratified the SAFTA protocol on the 4th of May 2011. SAFTAs main provisions called for the gradual reduction of tariffs, customs duties, and other trade barriers between the seven members, with some tariffs being removed immediately and others over periods of several years. SAFTA ensured eventual duty-free access for a vast range of manufactured goods and commodities traded between the signatories.

Objectives
The objective of the agreement is to promote good competition in the free trade area and to provide equitable benefits to all the countries involved in the contracts. It aimed to benefit the people of the country by bringing transparency and integrity among the nations. SAFTA was
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also formed in order to increase the level of trade and economic cooperation among the SAARC nations by reducing the tariff and barriers and also to provide special preference to the Least Developed Countries (LDCs) among the SAARC nations.

Activities:
The basic principles underlying SAPTA are: 1. overall reciprocity and mutuality of advantages so as to benefit equitably all Contracting States, taking into account their respective level of economic and industrial development, the pattern of their external trade, and trade and tariff policies and systems; 2. negotiation of tariff reform step by step, improved and extended in successive stages through periodic reviews; 3. recognition of the special needs of the Least Developed Contracting States and agreement on concrete preferential measures in their favor; 4. inclusion of all products, manufactures and commodities in their raw, semi-processed and processed forms.

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Association of Southeast Asian Nations

(ASEAN)

Association of Southeast Asian Nations (ASEAN) is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam. Its aims include accelerating economic growth, social progress, cultural development among its members, protection of regional peace and stability, and opportunities for member countries to discuss differences peacefully.

History
ASEAN was preceded by an organization called the Association of Southeast Asia, commonly called ASA, an alliance consisting of the Philippines, Malaysia and Thailand that was formed in 1961. The bloc itself, however, was established on 8 August 1967, when foreign ministers of five countries Indonesia, Malaysia, the Philippines, Singapore, and Thailand met at the Thai Department of Foreign Affairs building in Bangkok and signed the ASEAN Declaration, more commonly known as the Bangkok Declaration. The five foreign ministers Adam Malik of Indonesia, Narciso Ramos of the Philippines, Abdul Razak of Malaysia, S. Rajaratnam of Singapore, and Thanat Khoman of Thailand are considered the organisation's Founding Fathers. The motivations for the birth of ASEAN were so that its members governing elite could concentrate on nation building, the common fear of communism, reduced faith in or mistrust of external powers in the 1960s, and a desire for economic development; not to mention Indonesias ambition to become a regional hegemony through regional cooperation and the hope on the part
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of Malaysia and Singapore to constrain Indonesia and bring it into a more cooperative framework.

Objectives:
As set out in the ASEAN Declaration, the aims and purposes of ASEAN are: 1. To accelerate the economic growth, social progress and cultural development in the region through joint endeavors in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of Southeast Asian Nations; 2. To promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries of the region and adherence to the principles of the United Nations Charter; 3. To promote active collaboration and mutual assistance on matters of common interest in the economic, social, cultural, technical, scientific and administrative fields; 4. To provide assistance to each other in the form of training and research facilities in the educational, professional, technical and administrative spheres; 5. To promote Southeast Asian studies; and

Activities:
Cooperation in Industrial Development Industrial Cooperation has been an important cornerstone of ASEAN economic cooperation. Various industrial cooperation initiatives have been pursued with the aim of enhancing the industrial competitiveness of the region. Industrial cooperation schemes based on the principles of resource pooling and market sharing have been introduced to facilitate effective exploitation of economies of scale and the region's complementary location advantages. Cooperation in Finance and Banking ASEAN finance cooperation has been further strengthened with the various decisions made at the First ASEAN Finance Ministers Meeting (AFMM) held on 1 March 1997 in Phuket, Thailand. The decision to strengthen cooperation in the field of finance will provide strong support to the various regional initiatives and schemes expounded by the ASEAN Leaders. This includes, among others, the ASEAN Free Trade Area (AFTA), ASEAN Industrial Cooperation Scheme (AICO) and ASEAN Investment Area (AIA). Cooperation in Investment Since the Fifth ASEAN Summit, held in December 1995 in Bangkok, ASEAN cooperation in the area of investment has made significant developments. One notable development is the progress
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made towards realizing the decision of the ASEAN Heads of Government on establishing a bold regional arrangement for investment known as the ASEAN Investment Area (AIA). The objective of AIA is to help ASEAN attract greater and sustainable levels of FDI flows into and within the region. This is to be achieved by undertaking collective measures that would enhance the attractiveness, competitiveness and the complementarily of the region for FDI. Cooperation in Food, Agriculture and Forestry Various measures have been implemented to promote the production and trade in agriculture and forestry products given that these sectors are still significant to many ASEAN economies. The Ministerial Understanding on ASEAN Cooperation in Food, Agriculture and Forestry had provided a framework for sect oral cooperation in these areas. A Memorandum of Understanding on ASEAN Cooperation and Joint Approaches on Agriculture and Forest Products Promotion Scheme has been designed to improve the competitiveness of ASEAN agriculture and forest products. Cooperation in Transportation and Communications The transport and communications sector is a critical logistics and services support sector in the integration of the ASEAN economies. ASEAN Member Countries are implementing the ASEAN Plan of Action in Transport and Communications through the Integrated Implementation Program, involving 45 projects and activities in the following cooperative areas; multimodal transport, interconnectivity in telecommunications, harmonization of road transport laws, rules and regulations, airspace management, maritime safety and pollution, human resources, and air services liberalization. Cooperation in Tourism ASEAN tourism, which exhibits strong growth potentials, has contributed significant gains to the regional economy. ASEAN cooperation in tourism is aimed to develop and promote ASEAN as a single tourism destination product with world class attractions, standards and facilities, achieve facilitation of intra-ASEAN travel and freer trade in tourism services, and promote sustainable tourism development Cooperation in Intellectual Property As ASEAN Member Countries strive towards the next level of economic development, apart from the need to ensure continuous investment capital inflow through FDI, ASEAN also requires the inflow of new or up to date manufacturing technology. It is important that ASEAN continuously upgrade its technological competitiveness in order to sustain its high economic growth.

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South Asian Association For Regional Cooperation

(SAARC)

The South Asian Association for Regional Cooperation (SAARC) is an organization of South Asian nations, founded in December 1985 by Ziaur Rahman.

History:
The SAARC is dedicated to economic, technological, social, and cultural development emphasizing collective self-reliance. Its seven founding members are Sri Lanka, Bhutan, India, Maldives, Nepal, Pakistan, and Bangladesh. Afghanistan joined the organization in 2005. Meetings of heads of state are usually scheduled annually; meetings of foreign secretaries, twice annually. It is headquartered in Kathmandu, Nepal. The 16 stated areas of cooperation are agriculture and rural, biotechnology, culture, energy, environment, economy and trade, finance, funding mechanism, human resource development, poverty alleviation, people to people contact, security aspects, social development, science and technology, communications, and tourism

Objectives:
The objectives of the Association as defined in the Charter are:

to promote the welfare of the people of South Asia and to improve their quality of life; to accelerate economic growth, social progress and cultural development in the region and to provide all individuals the opportunity to live in dignity and to realize their full potential; to promote and strengthen selective self-reliance among the countries of South Asia; to contribute to mutual trust, understanding and appreciation of one another's problems; to promote active collaboration and mutual assistance in the economic, social, cultural, technical and scientific fields; to strengthen cooperation with other developing countries;
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to strengthen cooperation among themselves in international forums on matters of common interest; and to cooperate with international and regional organizations with similar aims and purposes.

Activities:
Agriculture and Rural Agriculture continues to key constituent in each South Asian economy in respect of employment as also contribution to national GDP. In some countries though Agricultures share in GDP may be diminishing in terms of its share in GDP, in terms of employment and centrality in rural economies, farm and non-farm sector, premised on basic farming as also engaging the large majority of small and marginal farming households, agricultures role in the SAARC Member States is projected to remain the key to driving overall national economic growth and well-being of its people. Culture The regional cooperation in the field of culture started with the First Meeting of the Technical Committee on Sports, Arts and Culture held in New Delhi in January 1989. Since then it has been an important area of cooperation among SAARC countries.

Economic and Trade The acceleration of economic growth is a Charter objective of SAARC. Cooperation in the core economic areas among SAARC Member Countries was initiated following the Study on Trade, Manufactures and Services (TMS), which was completed in June 1991. Energy Securing sustainable energy supplies to meet energy needs at reasonable/affordable prices has become a major energy policy imperative of Member States. The sky-rocketing oil prices and increasing energy demand have put severe strains on resources of all South Asian Countries. . Social Development The SAARC Charter envisages acceleration of social progress through active collaboration and mutual assistance amongst Member States. Focus on social issues under the broad heading of Health and Population Activities were one of the five original areas of cooperation identified by Member States during the inception of SAARC. Poverty Alleviation Recognizing the imperative to address poverty related issues and to suggest strategies and measures to alleviate poverty in the region, the SAARC Leaders at their Sixth Summit (Colombo, 1991) established an Independent South Asian Commission on Poverty Alleviation
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(ISACPA). The Commission, while reporting to the Seventh Summit (Dhaka, 1993), provided a conceptual framework for poverty alleviation through social mobilization and empowerment in South Asia. Science and Technology SAARC Leaders at the Thirteenth Summit (Dhaka, 13 November 2005), agreed to make important strides in the areas of science, technology and higher education, to meet the challenges of the twenty-first century and decided to give priority attention to encourage regional cooperation in these areas to derive benefits from the synergy of collective, well-planned and focused initiatives undertaken by Member States. The Leaders had directed that a SAARC Plan of Action for Science, ICT and Technology be elaborated for consideration during a Meeting of Science, ICT and Technology Ministers. Social Development The SAARC Charter envisages acceleration of social progress through active collaboration and mutual assistance amongst Member States. Focus on social issues under the broad heading of Health and Population Activities were one of the five original areas of cooperation identified by Member States during the inception of SAARC. The Association promotes social agenda in the region mainly through cooperation in the following areas: - Gender Related Issues - Children and Youth - Health and Population Activities - SAARC Social Charter Tourism The importance of tourism had been recognized since early days of SAARC. The Leaders during the Second Summit held at Bangalore in 1986 underlined that concrete steps should be taken to facilitate tourism in the region A. Technical Committee on Tourism was created in 1991. During the First Meeting of the Technical Committee on Tourism held in Colombo in October 1991, an Action Plan on Tourism was formulated. Human Resource Development The significance of Human Resource in socio-economic development of the region has been recognized since the inception of SAARC. The leaders at the First SAARC Summit in 1985 reaffirmed that their fundamental goal was to accelerate the process of economic and social development through the optimum utilization of human and material resources to promote the welfare and prosperity of people and to improve their quality of life.

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Asian Development Bank

The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia.

History:
The ADB admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly known as the United Nations Economic Commission for Asia and the Far East) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members - of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with member's capital subscriptions. At present, both the United States and Japan hold 552,210 shares, the largest proportion of shares at 12.756% each. China holds 228,000 shares (6.429 %), India holds 224,010 shares (6.317 %), the 2nd and 3rd largest proportion of shares respectively.

Objectives:

ADB aims for an Asia and Pacific free from poverty. Over half the population remains poor, with one child in 20 dying before the age of 5, over 250,000 women dying annually from childbirth and pregnancy, over five million living with HIV AIDS and 3/5 of global TB cases found in the region. With $21.72 billion in approved financing in 2011, more than 2,900 employees from 59 countries, ADB in partnership with member governments, independent specialists and other financial institutions is focused on delivering projects that create economic and development impact. Economists, sociologists, engineers, gender experts and environmental scientists are amongst the hundreds of professions at the bank working together to reduce poverty.
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Environmental sustainability is a core strategy of ADBs work as it is the poor that are most severely affected. Environmental damage and resource depletion are already impeding the regions development and reducing the quality of life. ADB is active in creating the framework for the private sector to be involved in investing in new projects that underpin development and improve the lives of the 1.8 billion people in the region who live on less than $2 a day. Since 2000, the Asian Development Fund has transformed the region with the construction of thousands of schools, bridges, health clinics and roads, providing opportunities for people to lift themselves out of poverty.

Activities:
With $21.72 billion in approved financing in 2011, more than 2,900 employees from 59 countries, ADB in partnership with member governments, independent specialists and other financial institutions is focused on delivering projects that create economic and development impact. ADB helps developing member countries tackle poverty by providing loans, technical assistance and grants for a broad range of development activities. Guiding ADBs work is Strategy 2020, our long-term strategic framework. ADB focuses on five core areas of operations: infrastructure; the environment, including climate change; regional cooperation and integration; finance sector development; and education. Find out more about our operations. Between 2007 and 2010, ADB, through the Asian Development Fund has: built 34,800 schools trained 253,00 teachers built or upgraded 29,400 kms of national highways and roads

provided 1.6 million new households with water connections connected over 1.19 million new households with electricity enabled over 1.8 million microfinance accounts to be opened or end borrowers reached

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Islamic Development Bank (IDB)

The Islamic Development Bank (IDB) is a multilateral development financing institution located in Jeddah. It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC, now the Organization of Islamic Cooperation), convened on 18 December 1973.

History
The Islamic Development Bank officially began its activities on 20 October 1975, inspired by King Faisal. There are 56 shareholding member states. On the basis of paid-up capital, the major shareholders of the Bank are, among others: Saudi Arabia, Libya, Iran. Egypt, Kuwait. Turkey, Qatar, UAE, Nigeria. The present membership of the Bank consists of 56 countries. The basic condition for membership is that the prospective member country should be a member of the Organization of Islamic Cooperation (OIC), pay its contribution to the capital of the Bank and be willing to accept such terms and conditions as may be decided upon by the IDB Board of Governors. IDB has evolved into a Group of five Entities, consisting of Islamic Development Bank (IDB), Islamic Research & Training Institute (IRTI), Islamic Corporation for Development of the Private Sector (ICD), Islamic Corporation for Insurance of Investment and Export Credit (ICIEC) and International Islamic Trade Finance Corporation (ITFC).

Objectives
The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shari'ah i.e., Islamic Law. The concepts of integrity and combating corruption and fraudulent practices are well established by Shariah from which the founding instruments of the Islamic Development Bank Group (IDB Group) take their spirit. Hence, article twelve of the IDB Articles of Agreement stipulates that
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the IDB has an obligation to ensure that its resources and facilities are used only for their intend purposes. Based on these core values, IDB Group management recognizes that the appropriate and efficient use and management of resources and funds are fundamental prerequisites for achieving the IDB Groups primary objectives, which are to contribute to the reduction of poverty and support sound development in IDB Group member countries. To achieve this, the IDB Group established the Group Integrity Office (GIO) to combat corruption and fraudulent practices on IDB related projects.

Activities
The functions of the Bank are to participate in equity capital and grant loans for productive projects and enterprises besides providing financial assistance to member countries in other forms for economic and social development. The Bank is also required to establish and operate special funds for specific purposes including a fund for assistance to Muslim communities in non-member countries, in addition to setting up trust funds. The Bank is authorized to accept deposits and to mobilize financial resources through Shari'ah compatible modes. It is also charged with the responsibility of assisting in the promotion of foreign trade especially in capital goods, among member countries; providing technical assistance to member countries; and extending training facilities for personnel engaged in development activities in Muslim countries to conform to the Shari'ah.

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THE WORLD BANK

The World Bank is an international financial institution that provides loans to developing countries for capital programs. The World Bank's official goal is the reduction of poverty. According to the World Bank's Articles of Agreement (As amended effective 16 February 1989) all of its decisions must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment.

History:
The World Bank differs from the World Bank Group, in that the World Bank comprises only two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the former incorporates these two in addition to three more:[4] International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID). The World Bank is one of five institutions created at the Bretton Woods Conference in 1944. The International Monetary Fund, a related institution, is the second. Delegates from many countries attended the Bretton Woods Conference. The most powerful countries in attendance were the United States and United Kingdom, which dominated negotiations. Although both are based in Washington, D.C., the World Bank is traditionally headed by a citizen of the United States while the IMF is led by a European citizen.

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Objectives:
We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. We comprise two institutions managed by 188 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuses exclusively on the worlds poorest countries. These institutions are part of a larger body known as the World Bank Group. Established in 1944, the World Bank is headquartered in Washington, D.C. We have more than 9,000 employees in more than 100 offices worldwide. Six strategic themes drive the Banks work, focusing on the poorest countries, fragile and conflict-affected states, the Arab world, middle-income countries, global public goods issues, and delivery of knowledge and learning services. There are also strategies for the key areas in which we work:

Thematic and sector strategies, which guide our work to reduce poverty in a specific sector or aspect of development. Each derives from a broad consultation with a wide array of stakeholders. Country assistance strategies, which identify the key areas in which we can best support a country in reducing poverty and achieving sustainable development.

Activities:
Financial Products and Services We provide low-interest loans, interest-free credits, and grants to developing countries. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Some of our projects are co financed with governments, other multilateral institutions, commercial banks, export credit agencies, and private sector investors. We also provide or facilitate financing through trust fund partnerships with bilateral and multilateral donors. Many partners have asked the Bank to help manage initiatives that address needs across a wide range of sectors and developing regions.

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Innovative Knowledge Sharing We offer support to developing countries through policy advice, research and analysis, and technical assistance. Our analytical work often underpins World Bank financing and helps inform developing countries own investments. In addition, we support capacity development in the countries we serve. We also sponsor, host, or participate in many conferences and forums on issues of development, often in collaboration with partners. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the Bank is constantly seeking to improve the way it shares its knowledge and engages with clients and the public at large. Key priorities include:

Results: We continue to sharpen our focus on helping developing countries deliver measurable results. Reform: We are working to improve every aspect of our work: how projects are designed, how information is made available (Access to Information), and how to bring our operations closer to client governments and communities. Open Development: We offer a growing range of free, easy-to-access tools, research and knowledge to help people address the world's development challenges. For example, the Open Data website offers free access to comprehensive, downloadable indicators about development in countries around the globe. We have also made Open Forumlive discussions open to participants worldwidea key part of our Spring and Annual Meetings with the International Monetary Fund.

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International Monetary Fund

(IMF)

The International Monetary Fund (IMF) is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement.

History:
The International Monetary Fund originally had 45 members. The IMF's stated goal was to stabilize exchange rates and assist the reconstruction of the worlds international payment system post World War II. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds on a temporary basis. Through this activity and others such as surveillance of its members' economies and policies, the IMF works to improve the economies of its member countries. The IMF describes itself as an organization of 188 countries (as of April 2012), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty. The organization's stated objectives are to promote international economic cooperation, international trade, employment, and exchange rate stability, including by making financial resources available to member countries to meet balance of payments needs. Its headquarters are in Washington, D.C.

Objectives:
The IMF was founded more than 60 years ago toward the end of World War II The founders aimed to build a framework for economic cooperation that would avoid a repetition of the disastrous economic policies that had contributed to the Great Depression of the 1930s and the global conflict that followed. Since then the world has changed dramatically, bringing extensive prosperity and lifting millions out of poverty, especially in Asia. In many ways the IMF's main purposeto
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provide the global public good of financial stabilityis the same today as it was when the organization was established. More specifically, the IMF continues to provide a forum for cooperation on international monetary problems facilitate the growth of international trade, thus promoting job creation, economic growth, and poverty reduction; promote exchange rate stability and an open system of international payments; and lend countries foreign exchange when needed, on a temporary basis and under adequate safeguards, to help them address balance of payments problems.

Activities:
Surveillance The IMF oversees the international monetary system and monitors the financial and economic policies of its members. It keeps track of economic developments on a national, regional, and global basis, consulting regularly with member countries and providing them with macroeconomic and financial policy advice. Technical Assistance To assist mainly low- and middle-income countries in effectively managing their economies, the IMF provides practical guidance and training on how to upgrade institutions, and design appropriate macroeconomic, financial, and structural policies. Lending The IMF provides loans to countries that have trouble meeting their international payments and cannot otherwise find sufficient financing on affordable terms. This financial assistance is designed to help countries restore macroeconomic stability by rebuilding their international reserves, stabilizing their currencies, and paying for importsall necessary conditions for re launching growth. The IMF also provides concessional loans to low-income countries to help them develop their economies and reduce poverty.

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G8
The Group of Eight (G8) is a forum for the governments of eight of the world's largest economies. Though at the time of originating this forum its name was G6.

History:
The forum originated with a 1975 summit hosted by France that brought together representatives of six governments: France, Germany, Italy, Japan, the United Kingdom, and the United States, thus leading to the name Group of Six or G6. The summit became known as the Group of Seven or G7 the following year with the addition of Canada. In 1997, Russia was added to group which then became known as the G8.[1] The European Union is represented within the G8 but cannot host or chair summits. Collectively, the G8 nations comprise 51.0% of 2011 global nominal GDP and 42.5% of global GDP (PPP). Each calendar year, the responsibility of hosting the G8 rotates through the member states in the following order: France, United States, United Kingdom, Russia, Germany, Japan, Italy, and Canada. The holder of the presidency sets the agenda, hosts the summit for that year, and determines which ministerial meetings will take place. Lately, both France and the United Kingdom have expressed a desire to expand the group to include five developing countries, referred to as the Outreach Five (O5) or the Plus Five: Brazil, People's Republic of China, India, Mexico, and South Africa. These countries have participated as guests in previous meetings, which are sometimes called G8+5. With the G-20 major economies growing in stature since the 2008 Washington summit, world leaders from the group announced at their Pittsburgh summit on September 25, 2009, that the group will replace the G8 as the main economic council of wealthy nations.

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Objectives:
The Forum proposes to continue the reflection launched at the St. Petersburg summit, considering the interconnections between the three components of the so-called "triangle of knowledge"education, scientific research and technological innovationfrom a sustainable development perspective, identifying risks and opportunities both for the industrialized countries as well as the developing and low income countries. The discussion will involve personalities of the highest level from the institutional, scientific and entrepreneurial world, both from G8 countries as well as developing countries. Attention towards developing countries intends to be a qualifying additional element of the Italian initiative with respect to the discussions which took place in the G8 framework only. No final document is foreseen as the Forum is intended as an opportunity for discussion.

Activities:
By design, the G8 deliberately lacks an administrative structure like those for international organizations, such as the United Nations or the World Bank. The group does not have a permanent secretariat or offices for its members. The presidency of the group rotates annually among the member countries, with each new term beginning on 1 January of the year. The country holding the presidency is responsible for planning and hosting a series of ministerial-level meetings, leading up to a mid-year summit attended by the heads of government. The president of the European Commission participates as an equal in all summit events. The ministerial meetings bring together ministers responsible for various portfolios to discuss issues of mutual or global concern. The range of topics includes health, law enforcement, labor, economic and social development, energy, environment, foreign affairs, justice and interior, terrorism, and trade. There are also a separate set of meetings known as the G8+5, created during the 2005 Gleneagles, Scotland summit, that is attended by finance and energy ministers from all eight member countries in addition to the five "outreach countries" which are also known as the Group of Five Brazil, People's Republic of China, India, Mexico, and South Africa. In June 2005, justice ministers and interior ministers from the G8 countries agreed to launch an international database on pedophiles. The G8 officials also agreed to pool data on terrorism, subject to restrictions by privacy and security laws in individual countries

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