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The World Bank Group

The World Bank Group. Rohini Sengupta & Sreya Vaidyanathan. history. Established in1944 at the Bretton Woods Summit in New Hampshire Conceived for the reconstruction Europe International Bank of Reconstruction and Development First loan to $250 million to France

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The World Bank Group

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  1. The World BankGroup Rohini Sengupta & Sreya Vaidyanathan

  2. history • Established in1944 at the Bretton Woods Summit in New Hampshire • Conceived for the reconstruction Europe • International Bank of Reconstruction and Development • First loan to $250 million to France • Offices setup in Paris, Prague, and Copenhagen

  3. Transition • Transitioned and expanded responsibilities in the 1980s • Macroeconomics and debt rescheduling • Social and environmental issues • Criticisms prompted: • Waphens Report • Inspection Panel • 1994 Annual Meeting in Madrid • Larger role in global policy • Expanded to 5 financial & banking agencies – each with its own Articles of Agreement

  4. Purpose • Mandate has evolved: worldwide poverty alleviation • Source of technical and financial assistance for developing countries • Low interest loans, interest free credits, grants • Supports investment • Trust fund partnerships • Policy advice, research & analysis, technical assistance • Still focuses on post-war reconstruction

  5. Six Strategic Themes • Focus on… • Poorest countries • Fragile/conflict affected states • The Arab world • Middle income countries • Global public goods issues • Education

  6. Membership and leadership • Current President: Rober B. Zoellick • 187 Members • US, UK, France, Germany, and Japan are largest shareholders • Ultimate decision making power with member countries: • Board of Governors (senior decision-making body) • Board of Executives (25 members) • Each member has one Governor and one Alternate • 5 Largest shareholders appoint Directors, other 20 are elected

  7. Advantages/Benefits of Membership • Loans to developing countries for capital projects • Benefits economic prosperity in the long run • Free trade with foreign investment & capital investment • Foreign investment • Access to capital markets • Opens new markets • Falling extreme poverty rates • Increase in general education rates

  8. Disadvantages/ Criticisms • Structural adjustment “worsens life for the poor” • Only effective in countries with stable institutional frameworks (Sub-Saharan Africa worse) • Global inequity • Shock therapy • Detrimental to health, environment & cultural diversity • Brazilian Kayapo People • Run by a small number of economically prosperous countries • American leaders • “Sovereign immunity”

  9. World Bank & AP6: MEXICO Worldbank.org

  10. World Bank & AP6 • MEXICO: 18 active projects • Oportunidades Program • 5.8 million of the poorest • “provides cash on condition health, education and nutrition targets are met, including regular medical check-ups and school attendance” (WB Press Release 2010) • Extreme poverty 10.4%  10.2% • NIGERIA: 130 loans • Fadama II project (agriculture), microfinance projects, HIV/AIDS, education, water projects

  11. World Bank & AP6: • IRAN Active project: Alborz Integrated Land & Water Management • Increases agricultural productivity • US $120 mil • May 2005- October 2012 • CHINA: 107 active projects, 315 completed projects • US $1,770.72 mil loaned in 2011 • Railroad programs, health programs, urban development programs, agricultural programs

  12. World Bank & AP6: • UK: 3.75% voting power • Represented on Board of Governors • 2007/2008: 1.4 billion pounds loaned • RUSSIA: 10 investment projects in Russia totaling US$ 987 million (2012) • More than 70 projects • Public administration and fiscal policy, human and infrastructure development, energy efficiency and environmental and forestry protection

  13. Works Cited • "Amazon Indians Attack Official Over Dam Project." National Geographic. National Geographic Society. Web. 26 Mar. 2012. <http://news.nationalgeographic.com/news/2008/05/080521-AP-indians-dam.html>. • "EDITORIAL - Criticism of World Trade Organization, World Bank and International Monetary Fund - Editorial." CBS Interactive. CBS Interactive Business Network, 01 Sept. 2000. Web. 26 Mar. 2012. <http://findarticles.com/p/articles/mi_m2465/is_6_30/ai_65653637/>. • "Mexico." Overview. World Bank. Web. 26 Mar. 2012. <http://www.worldbank.org/en/country/mexico/overview>. • "Russian Federation." Russia Projects & Programs. Web. 26 Mar. 2012. <http://www.worldbank.org/en/country/russia/projects>. • “UK.” Overview. World Bank. Web. 26 Mar. 2012. <http://www.worldbank.org/en/country/uk/overview • “China.” Overview. World Bank. Web. 26 Mar. 2012. <http://www.worldbank.org/en/country/China/overview • "Leadership." About Us. 19 Jan. 2012. Web. 26 Mar. 2012. <http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:22428930~menuPK:1697011~pagePK:51123644~piPK:329829~theSitePK:29708,00.html>. • "Site Tools." About Us. The World Bank Group, 31 Jan. 2012. Web. 26 Mar. 2012. <http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:20653660~menuPK:72312~pagePK:51123644~piPK:329829~theSitePK:29708,00.html>. • "What We Do." About Us. The World Bank Group, 8 Mar. 2012. Web. 26 Mar. 2012. <http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:20103838~menuPK:1696997~pagePK:51123644~piPK:329829~theSitePK:29708,00.html>.

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