1 Essay "The World Bank: are 50 years long enough?

Juan Diego Fernández

Juan Ruiz Burbano
Halam Chinome
Sebastian Bernal Jimenez.

Fundación Universitaria Konrad Lorenz.

Business School.
Economic fundamentals.

Bogotá DC
2020
 "The World Bank: 50 Years is Enough?

In 1945, in the negotiations that led to the end of World War II, an institution born

what was known that the financial system of Bretton Woods, initially composed of two key

institutions, the International Bank for Reconstruction and Development and the International

Monetary Fund . Here is our analysis on the subject.

In the first seventeen years of its existence, the projects supported by the World Bank

included the improvement of communication infrastructure and electricity production.

The money loaned to developing countries had to be spent, especially in industrialized

countries.

Supported projects were to improve export capacity from the South to the North, in

order to meet their needs and enrich a handful of multinational companies in the sectors

concerned. During this period, projects related to education, health, access to drinking water.

After World War II the role of the World Bank was crucial to support all European countries

as the only country with enough money or funds were the US The bank was able to create

funds to all poor countries by taking in a larger and long-term task. the operation of the bank

grew in scale and diversity worldwide. money from the bank raised enormously in private

markets with interest rates.

A lending money to borrowers at the same rates, but not all, countries could pay these

obviuosly rates are not poor countries because of this in 1958, the International Assosiation
for Development was created by what this organization was taking care of this type of loans

in order to soften them and this was his success. Moreover, the World Bank was created at a

time when governments were supporting the economy of the country. At the same time, the

private sector was growing in developing countries so that several organizations had an

important role in this sector as the multinational Guarantee Agency Investment.

The World Bank also was to support the development of new technology research and

agriculture and this is how the "green revolution" began, which both contributed to the

economic growth of developing countries.

Therefore, the Bank began coordinating donor agencies and governments. This

coordination focused on European countries of the eastern and central and the Soviet Union

too. Making the largest contribution "in fact" they were mentioned these countries. On the

other hand, countries in Asia, Africa and South America were not able to receive these

benefits on a large scale because of the different policies of their governments.

In conclusion, the global development bank was created in order to help grow the next

economy of the disaster that was as it was the Second World War, this mechanism has plenty

of United Nations and partnerships with the private sector is essential for promote

development in countries that do not have the resources for economic growth by creating a

donor institution and adjusting their interest rates.