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How does 'World Bank' work? What are it's functions?

Date: 23 Jan 2012   Group: Finance and Investments    Category: Banking   


How does 'World Bank' work? What are its functions? How it internationally governs banking all over the world? or it just provide financial help to the needy countries in their bad times? Who appoints the chief of 'World Bank'? How many member countries are with 'World Bank' association? How it maintain global economy?


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Author: palaksha    23 Jan 2012      Member Level: Silver     Points : 2    Voting Score: 2

World bank created in 1944, by delegates from many
countries at Bretton woods Conference headed by America.
The main goal of this creation was to lower the poverty level
spread over many countries in the world, by providing loan to
required countries.
First it accepts the loan applications from the member countries
which require loan, and do careful screening of loan applications
But the help(loan lending) not only limited for reducing poverty,
but also for many developmental works that the member coutries intend to do
like improving power sources, renewable power sources,
Helping to improve technology, Clean Air initiatives by reducing the
polution and maintaing cities clean, infrastructural development,
other financial requirements and many more.

Author: jayakanth    01 Feb 2012      Member Level: Bronze     Points : 1    Voting Score: 2

world bank offers financial aid to all the countries depending upon their requirements.its main goal is to lower the poverty levels,promoting the international trade and foriegn investments



Author: SUNIL KUMAR K    09 May 2012      Member Level: Silver     Points : 4  (Rs 2)    Voting Score: 2

World Bank is an international Organization craeted at Brettten Woods Conferencein 1944. The main aim for the fomation of World bank is to provide financial aid to the developing counties for its capital programs like international trade, building infrastucture etc. It was formed as one among the 5 finalacial institutions formed in 1944 namely,

1)International Bank for Reconstruction and Development (IBRD)

2) International Development Association (IDA)

3)International Finance Corporation (IFC)

4)Multilateral Investment Guarantee Agency (MIGA)
and

5) International Centre for Settlement of Investment Disputes (ICSID)

Among the above 5, IBRD is turned as World Bank.The official goal is "Reduction of Poverty". It has 188 member countries under the presidentialship of Robert Zoellick.

The major funtion of World bank is to fund various developing conties particulary in the below fields:

1) Allevietion of Poverty
2)Universal Primary education
3)Promotion of gender equality
4) Reduce Infant Mortality
5) Improve maternal health
6)Combat HIV/AIDs and other diseases
7) Enviromental sustainablity
8)Global partnership for development

Author: Anisha    24 May 2012      Member Level: Silver     Points : 8  (Rs 7)    Voting Score: 0

World Bank is an international financial institution among five institutions created at Bretton Woods Conference in 1944. The World Bank is headed by an American and is based in Washington D.C.

The World Bank provides loans to developing countries for capital programmes. Its official goal is the reduction of poverty. By law, all of its decision must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment.

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)
• The International Development Association (IDA)

Whereas the latter incorporates these two in addition to three more ---
• The International Financial Corporation (IFC)
• The Multilateral Investment Guarantee Agency (MIGA)
• The International Centre for Settlement of Investment Disputes (ICSID)

Role and Objectives

• Main focus --- Reconstruction and development in situations like;
Natural disasters
Needs affecting developing countries
Post conflict rehabilitation
Needs affecting a transitioning economy
• Protecting individual property rights
• Creating infrastructure
• Developing financial system
• Implement legal system that encourages business
• Improving living standards
• Poverty reduction strategies
• Clean technology fund management
• Clean air initiative
• United Nations development business

Functions

• Assistance is extended to different countries for raising cash crops so that their incomes rise and they may export the same for earning foreign exchange.
• The bank has also been providing resources for education, sanitation, health care and small scale enterprises.
• It provides financial assistance for infrastructure development, agriculture, industry, health, and sanitation.
• The bank is significantly involved in areas like removal of rural poverty through raising productivity, increasing income of rural poor, providing technical support etc.
• It provides long term loans at zero interest to poorest developing countries.
• It gives the provision of providing loans and development assistance to middle income countries and credit worthy poorer countries.

Author: Halloween Harmony    21 Jun 2012      Member Level: Silver     Points : 2    Voting Score: 0

The WORLD BANK is an international financial institution that provides loans to develop countries for capital programs. Goal of WORLD BANK is to reduce poverty from the world. It help governments in developing countries reduce poverty by providing them with money and technical expertise they need for a wide range of projects such as education,health,infrastructural,communications and for many other purposes. This bank is like cooperative in which 187 member countries are shareholders.Robert B. Zoellick is the 11Th president of this bank.

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