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
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.
1)International Bank for Reconstruction and Development (IBRD)
2) International Development Association (IDA)
3)International Finance Corporation (IFC)
4)Multilateral Investment Guarantee Agency (MIGA)
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
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;
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
• 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.
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Failure also looks beautiful when you have a loved one to support you..."
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