World bank

Prepared by Eqbal (Habibi) 3rd Sem (BBM)

WORLD BANK

Logo of World Bank

The World Bank is an internationally supported bank with the membership of 188 countries that provides financial and technical assistance to developing countries for development programs with the stated goal of reducing poverty.

Introduction

Type : International Organization

President : Jim yong Kim

Membership : 188 countries

Headquarters : Washington, DC & more than 100 countries

Staff : About 10000 all over the world

Established : July 1,1944

Lord Keynes (right) and Harry Dexter White (left), the “founding fathers "Of World Bank.The World Bank was created at the 1944, Bretton Woods Conference.Although many countries were represented at the Bretton Woods Conference, But the United States and United Kingdom were the most powerful in attendance and dominated the negotiations.Traditionally, the World Bank has been headed by a citizen of the United States.

History of World Bank

The World Bank was originally established to support reconstruction in Europe after World War II.

Main Office of the World Bank is in Washington DC.

Eugene MeyerEugene Isaac Meyer  was an American financier, public official, and newspaper publisher. He was the publisher of the Washington post newspaper.Born in Los Angeles, California on 31oct 1875He grew up in  San Francisco and attended college at the University of California, Berkeley but he dropped out after one year and later enrolled at  Yale University.. He received his B.A in 1895, and he died on 17 July 1959 in Washington DC. 

First president of World bank

Jim Yong KimJim Yong Kim( B.A, MD, PhD) also known as Kim Yong  born on December 8, 1959),He is a Korean-American physician and Anthropologist, who has been the 12th President of the World Bank  since July 1 2012.

Present President of World Bank

He was formerly the Chairman of the Department of Global Health and Social Medicine at Harvard Medical School, and a co-founder and executive director of Partner In Health. On March 23, 2012, President Barack Obama announced that the United States would nominate Kim Yong as the next president of the World Bank to replace Robert Zoellick, the 11thPresident of World Bank. On April 16, Kim was elected  to head the World Bank and took office on July 1 2012.

France was the first borrower for $250 million to finance post-war reconstruction in 1946

Many developed nations who are now donors, were also borrowers, such as Austria, Australia, Denmark, Japan, Italy, Finland, and Greece

WORLD BANK BORROWERS

According to the World Bank's Fiscal Year Top Ten borrowing countries are:

● India tops the table with ($2,578 million).● Vietnam ($1,429 million).● Tanzania ($943 million).● Ethiopia and Nigeria with ($890 million each). ● Bangladesh ($828 million).● Kenya ($614 million).● Uganda ($480 million).● Democratic Republic of Congo ($460 million) .● Ghana ($433 million).

Top 10 borrowing countries.

FIVE AGENCIES – ONE GROUP

The International Bank for Reconstruction and Development (IBRD)

(Established in 1945)

The International Development Association (IDA)

(Established in 1960)

The International Finance Corporation (IFC)

(Established in 1956)

The Multilateral Investment Guarantee Agency (MIGA)

(Established in 1988)

The International Centre for the Settlement of Investment Disputes (ICSID)

(Established in 1966)

WORLD BANK GROUP

Need of World Bank

Need of World Bank

Build Capacity

CREATE INFRASTRUCTURE

DEVELOP FINANCIAL SYSTEM

COMBAT CORRUPTION

OBJECTIVES RECONSTRUCTION WORK

REDUCE POVERTY

REDUCE ILLITERACY

REDUCE DISEASE

REDUCE CORRUPTION, ETC..

Agriculture & Rural Development Economic Policy Education Energy Environment Financial Sector Health, Nutrition & Population Industry Information, Computing and Telecommunication Law and Justice Private Sector Social Protection Trade Water Resources Water Supply and Sanitation

AREA OF OPERATION

Percentage of Use of money On Operational Areas By World Bank in 2012.Total Money $35.3 Billion.

Economic Man-agement

4%

Environmental and Natural Resources

Management11%

Financial and Pri-vate Sector De-

velopment13%

Human Devel-opment

14%Public Sector Gov-ernance

11%

Rule of Law1%

Rural Development15%

Social Develop-ment, Gender, and

Inclusion4%

Social Protection and Risk Man-

agement10%

Trade and Integra-tion5%

Urban Development12%

On Regions in 2012.Total Money $35.3 Billion

Africa21%

East Asia and Pacific19%

Europe and Central Asia

19%

Latin America and

the Caribbean19%

Middle East and North Africa

4%

South Asia18%

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

It is deeply implicated in contemporary modes of donor and NGO (Non-governmental Organization) driven imperialism.

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

CRITICISM

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, & transport to poor people.

It helps in controlling emerging conflicts.

5 PRIORITIES OF WORLD BANK

Thank

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