A world free of poverty
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A World free of poverty. World Bank . History . Founded in 1944,at Bretton Woods, New Hampshire First loan to France in 1947 of $250 million 1947 - Incorporation into UN System 1979 - Lending for the fiscal year crosses the $10 billion mark for the first time

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A World free of poverty

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A World free of poverty

World Bank


History

  • Founded in 1944,at Bretton Woods, New Hampshire

  • First loan to France in 1947 of $250 million

  • 1947 - Incorporation into UN System

  • 1979 - Lending for the fiscal year crosses the $10 billion mark for the first time

  • 1995 – James D. Wolfensohn becomes Bank president


What is the World Bank ?

  • One of the world’s largest sources of development assistance (FY 2001 provided more than US$17 billion in loans)

  • IBRD has 183 members, IDA has 161, the IFC has 174, MIGA has 154 and ICSID has 133


Partners

  • International Organizations (EU,IMF,UN,WTO)

  • Affiliates (CGIAR,CGAP, Development Gateway, GEF)

  • NGO’s and Civil Society

  • Business and the Private Sector

  • Donors & Co-financing

  • Students and the Academic Community


The Bank is Accountable

  • Information sharing essential for effective and sustainable growth….publicly accountable to member countries

  • Staff and management held directly accountable by its members

  • OED reviews all Bank-financed projects and reports directly to the Board


Where does the money go?


Where does the money go? (cont.)


The role of the World Bank

  • Partner in strengthening economies and expanding markets – lends money, doesn’t make grants

  • G-7 members (Canada ,France, Germany, Italy, Japan, UK, and U.S)- U.S. has largest shareholding in the Bank (approximately 17%)

  • Bank comparable to a Global Cooperative


Conclusion: Lessons of Experience

  • Challenges

    • Proposal for a comprehensive development Framework might be too holistic

    • Absolute number of poor people is rising as a result of rapid population growth

    • Resistance by some governments


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