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World Bank Presentation
Transcript of World Bank Presentation
May 9th 1947 first loan to France
US $250 million
IBRD & IDA
International Bank for Reconstruction and Development
Original World Bank
reduce poverty in the middle-income countries and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and analytical and advisory services.
International Development Association
Founded in 1960
helps the world’s poorest countries to reduce poverty by providing loans (called “credits”) and grants for programs that boost economic growth, reduces inequalities, and improve people’s living conditions
End extreme poverty by decreasing the percentage of people living on less than $1.25 a day to no more than 3%.
Promote shared prosperity by fostering the income growth of the bottom 40% for every country.
Shareholders IBRD: 188 members
Gifts, renewed once in three yearsIDA: 31 main, total 172 members
IBRD profit from interest loans
Millennium Development Goals, Local Water Partnership
‘Our results contribute to the growing literature showing that International Financial Institutions have been employed as a tool of foreign policy by its major stakeholders. Whether used to bribe or reward, the World Bank’s projects have been funneled to politically important developing countries, such as those serving a term on the UN Security Council…. In any case, the projects of the World Bank are one mechanism by which the major stakeholders of the Bank – mainly the US, but also Japan, Germany, France and the United Kingdom – can win the favor of voting members of the UN Security Council.’ (Dreher, 2009: 27-28)
‘Adjusting vote shares, however, would not change the fact that the World Bank can still be used to achieve foreign policy objectives; it would just change the players who get to use the World Bank to pursue foreign policy objectives.’(Dreher et al., 2009: 29)
Has to be seen as a bank
question about transparency
Titus Alexander: Global Apartheid
Human Rights Watch & Oxfam
Do the objectives of the World Bank really measure eradication of poverty?
Total with part 2 members US $217,792
Three way income