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The World Bank - An Overview[1]

The World Bank - An Overview[1]

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Published by Raj Sahu
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Published by: Raj Sahu on Jun 20, 2010
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The World Bank

ITRODUCTION
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A vital source of financial and technical assistance to developing countries around the world. Made up of two unique development institutions owned by 185 member countries
1.

2.

International Bank for Reconstruction and Development (IBRD) International Development Association (IDA).

ITRODUCTION Contd..
Each institution plays a different but supportive role in the mission of global poverty reduction and the improvement of living standards. IBRD focuses on middle income and credit worthy poor countries. IDA focuses on the poorest countries in the world.

HISTORY
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The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, where the United Nations Monetary and Financial Conference that led to their establishment took place (1 July-22 July 1944). Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 .

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OBJECTIVES
The World Bank was created with the following objectives:
(1) To help in the reconstruction and development of territories of members by facilitating the investment of capital for productive purposes . (2) To promote private foreign investment (3) To promote the long-range balanced growth of international trade

OBJECTIVES
(4) To encourage loans made or guaranteed so that the more useful and urgent projects will be dealt with first, (5) To conduct its operation so as to bring about a smooth transference from a war-time to peacetime economy.

Lending Programmes 
 

Structural Adjustment lending Special Action Programme B-Loan and Export Credit

IDA 
 

Poverty Test Performance Test Project Test

OPERATIONS 

Areas of operation 
        

Agriculture and Rural Development Conflict and Development Law and Justice Macroeconomic and Economic Growth Poverty Reduction Environment Health, Nutrition and Population Industry Water Supply and Sanitation Information and Communication Technologies

OPERATIONS Contd«..
So, where does the money come from to operate the World Bank, and how do they use the funds to carry out their mission? Fund Generation   



Through IRBD Through IDA Through repayment the loans 

Loans World Bank offer two basic types of loans and credits:

OPERATIONS
Investment loans and b) Development policy loans.
a)

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Investment loans are made to countries for goods, works and services in support of economic and social development projects in a broad range of economic and social sectors. Development policy loans provide quick-disbursing financing to support countries¶ policy and institutional reforms.

OPERATIONS
y Grants
Grants are designed to facilitate development projects by encouraging innovation, co-operation between organizations and local stakeholders¶ participation in projects. In recent years, IDA grants have been used to: 
Relieve

the debt burden of heavily indebted poor countries sanitation and water supplies civil society organizations 

Improve  Support  Create

initiatives to cut the emission of greenhouse gasses the HIV/AIDS pandemic 

Combat

OPERATIONS
y Analytic and Advisory Services The World Bank is also to provide analysis, advice and information to their member countries so they can deliver the lasting economic and social improvements their people need. The world bank do this in several ways:
a. b.

THROUGH ECONOMIC RESEARCH THROUGH COUNTRY-SPECIFIC ECONOMIC AND SECTOR WORK.

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The World Bank¶s analyses, advice and knowledge are made available to their client countries, their government and development professionals, and the public for:

OPERATIONS
a. b. c. d.

Poverty Assessments Public Expenditure Reviews Country Economic Memoranda Social and Structural Reviews

y

Capacity Building
Another core bank function is to increase the capabilities of staff, partners and the people in developing countries²to help them acquire the knowledge and skills they need to provide technical assistance, improve government performance and delivery of services, promote economic growth and sustain poverty reduction programs.

OPERATIONS
Some of knowledge sharing networks have been set up by the Bank to address the vast needs for information and dialogue about development:
a. b. c. d.

ADVISORY SERVICES AND ASK US HELP DESKS B-SPAN WEBCASTING SERVICE WORLD BANK INSTITUTE GLOBAL AND REGIONAL PROGRAMS GLOBAL DEVELOPMENT LEARNING NETWORK

IMPACT - World on World Bank
The World Bank and its market-driven health policies are getting the ire of health activists and experts, who say the Bank¶s cures are harming the developing-country patients they seek to help. 

CRITICISM
Criticisms: 

The annual world development indicators that are released by the World Bank are generally full of erroneous data and even biased towards the views of the business elites. Lack of Accountability Their policies have failed to achieve MDP.  

AAPLAUDS
Applauds: 

The commitment of World Bank towards greater transparency and removal of corruption from the Organization. The world has experienced the most rapid growth in all history in the last 50 years, and this includes the Third World as well as the industrialized countries. The World Bank makes the best long-term analysis and provides a framework around which other donors can co-ordinate.  

FUTURE DIRECTION
The Bank can further strengthen its effectiveness in helping countries reduce poverty by: 

A focus on the nature of growth. A well-articulated results chain to achieve sectoral outcomes.  

A realistic assessment of the political economy of governance-related reforms.

THANK YOU

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