IMF Vs World Bank Support to India Operations of World Bank Introduction World Bank World Bank Why World Bank History Priorities Criticism.

IMF Vs World Bank

Support to India

Operations of World Bank

Introduction

World World BankBank

Why World Bank

History

Priorities

Criticism

The world bank is an internationally supported bank that provides

financial and technical assistance to developing countries for

development programs (e.g. bridges, roads, schools)with the stated

goal of reducing poverty.

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• One of the world's largest sources of development assistance

• In fiscal year 2009, it provided more than US$42 billion in loans to developing countries

• Works in more than 100 developing economies• Primary focus: helping the poorest people and the

poorest countries• The largest external funder for:

– Education – HIV/AIDS– Health – Biodiversity Projects

• President :- Robert B. Zoellick• Membership :- 185 countries• Affiliates :- IFC, MIGA, ICSID• Headquarters :- Washington, DC

• Established :- July 1,1944

The world bank is one of the two Bretton Woods Institutions which were created in 1944 to rebuild a wartorn europe after World War II . Later ,largely due to the contributions of the Marshall Plan ,the World Bank was forced to find a new area in which to focus its efforts.

• Fund generation• Loans• Grants• Analytic & Advisory Services• Capacity building

• IBRD and IDA • Initial mission was to aid reconstruction of

nations devastated in WWII• IDA obtains fund through donor countries.• IBRD income through lending activities

• Relieve the debt burden of heavily indebted poor countries

• Improve sanitation and water supplies• Support vaccination and immunisation

programs to reduce the incidence of communicable diseases like malaria

• Combat the HIV/AIDS pandemic• Support civil society organisations• Create initiatives to cut the emission of

greenhouse effect

• Poverty Assessments• Public Expenditure Reviews• Country Economic Memoranda• Social and Structural Reviews• Sector Reports• Topics in Development

• Advisory Services and Ask Us• Global Development Learning Network• World Bank Institutes Global and Regional

Programs

• Agriculture and Rural Development

• Economic policy• Education• Energy• Environment• Financial sector• Health, nutrition and

population industry

• Information, computing and telecommunication

• Law and justice• Private sector• Social protection• Trade• Water resources• Water supply and

sanitation

• India is home to over one-quarter of the world’s poor, and the world bank group is focused on sharing best practices as well as financing for development as part of its mission to help reduce global poverty.

• In India, the World Bank works in close partnership with the Central and State Governments.

• It also works with other development partners: bilateral and multilateral donor organizations, nongovernmental organizations (NGOs), the private sector, and the general public.

• The Country Strategy for India for 2009-2012 is aligned with the government's Eleventh Five Year Plan.

• It focuses on helping the country to fast-track the development of much-needed infrastructure, support the seven poorest states, and respond to the financial crisis.

• The strategy envisages total proposed lending of US$14 billion for 2009 - 2012.

• From 1949 to June 2000, the Bank has extended about 215 loans and 292 development credits to India.

• The World Bank Group plans to double its investments in the Indian agriculture sector to $ 5 billion in the next three years.

• The World Bank has already delivered about $5.3-billion to India this fiscal year with commitments to power, roads, banking, rural development and water.

IMF WORLD BANK

1.TYPE OF INSTITUTION

Co-operative Lending

2. LOANS Short term loans Long term loans

3. MAJOR ISSUES

macroeconomic issues

Related to structure within a country

IMF WORLD BANK

4. FINANCIAL RESOURCES

Fixed quota subscriptions

Borrowings

5. SIZE & STRUCTURE

SMALL WITH NO AFFILIATES OR SUBSIDarIES

COMPLEX

6. RECEIPTS OF FUNDING

ALL MEMBER NATIONS

ONLY DEVELOPING COUNTRIES

• World bank provides the largest external funds for education.

• It is a big support in reducing poverty.• It provides fund for biodiversity projects.• it helps to bring clean water, electricity, and

transport to poor people.• It helps in controlling emerging conflicts.

5 PRIORITIES OF WORLD BANK

•World economy slowly recovers, developing world faces scarce financing.•World Bank analysis regarding crisis, finance, and growth.•World Bank group launches online consultations on future energy strategy.•World Bank team prepares for damage assessment and recovery plan in Haiti.

• It was started to reduce poverty but it supports United States’ business interests.

• It is deeply implicated in contemporary modes of donor and NGO driven imperialism.

• The President of the Bank is always a citizen of the United States.

• Lack transparency to external publics.• It is an instrument for the promotion of U.S. or

Western interests.• The decision-making structure is

undemocratic.• It has consistently pushed a “neo-liberal”

agenda.

CONTD..