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A World free of poverty

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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  1. A World free of poverty World Bank

  2. 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

  3. 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

  4. 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

  5. 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

  6. Where does the money go?

  7. Where does the money go? (cont.)

  8. 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

  9. 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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