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The World Bank (get it)

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arun aru

on 18 December 2013

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Transcript of The World Bank (get it)

The World Bank
Mandate of the Organization
Goal: promote long-term economic development and poverty reduction.
- provides technical and financial support to help countries reform certain sectors
i.e. building schools/health centers, providing water and electricity, fighting disease
- funded by member countries and bond issuance
The History
The world bank first started during World War II
Main objective at the time was to help rebuild Europe
First loan of 250 million to France for post war- reconstruction
Public Service Reform and Rejuvenation
77 million dollars approved to strengthen workforce and benefits

strengthen state capacity to deliver services to citizens.

About 6000 retiring servants are predicted to be paid of benefits

Two components: public service reform and retirement aid

Executive Members
1944 - The start
After world war II, the bank focused on poverty in third world countries.
The size and number of loans also increased significantly as well
The new president had a major role in changing the focus of the bank since he was shifted toward policies that help build schools, hospitals, improving literacy and agriculture.
New money was also added by using the global bond market
The world bank now include environmental groups in its loans
The bank will not support any organizations that are apart of commercial logging and projects that harm the environment
The bank not only loans money but also helps treating diseases worldwide by sending vaccines around the world
1980's to Present Day
Mandate of the Organization
Goal: bridge the economic divide between rich and poor countries, and to turn rich country resources into poor country growth.
1. spur growth in poor countries
2. offer reconstruction to poor countries
3. customize development solution
4. spur government action
5. work with Arab states to improve education and infrastructure
6. share expertise with developing countries
Mandate of the Organization
Goal: Reduce Debt Burden
- working with the IMF to reduce the debt of HIPC initiative and MDRI
Goal: Reduce Poverty
- PRSP in 1999: country-led plan for linking policies, donor support and development
Goal: Monitoring Progress on MDGs
- worked with IMF on Global Monitoring Report assessing the contributions of countries and institution
Civil Service Reform

Lack of analytical research

Sustainable reform

Weak institutions
President - Jim Yong Kim

Managing Director & Chief Operating Officer - Sir Mulyani Indrawati

Managing Director and World Bank Group Chief Financial Officer - Bertrand Badré

Chief Economist and Senior Vice President - Kaushik Basu

President - Jim Yong Kim
Managing Director and
Chief Operating Officer

Sri Mulyani Indrawati
Managing Director and World Bank Group Chief Financial Officer
Bertrand Badré
World Bank Chief Economist
Kaushik Basu

Full transcript