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Presented To : Prof Dr. Hesham Mansour. Prepared By : Amir Ezzat Kareem Fahmy Marwa Nosseir Nada Hamouda Tamer Fahmy. WORLD BANK.
- World bank; Short introduction- History of World Bank- Funding- Functions- Working groups of World Bank- World Bank in India- Advantages- Dark side- Conclusion
The world bank group is one of the world’s largest sources of funding and knowledge for developing countries. The world bank is a lending institution that funds essential infrastructural requirement, globally.World bank as an institution that was designed for investment as well as providing loans.
The 11th President of the World Bank
Name : World bank H.Q. : Washington D.C. Date: 27 Dec 1945 Members : 186 countries Current president : Robert B. Zoellick. Staff : 10000 in 100 countries Authorized capital: $184 billion Financial sources : Borrowing on international market
The world bank is the outcome of the Bretton Woods conference, held in 1944. It was launched alongside the International Monetary Fund(IMF), in the presence of a number of important world delegates, and many important policy makers from the United States of America.
Financial resources are acquired by borrowing on the international bond market. It issues bonds to raise money and then passes on the low interest rates to its borrowers. It is made up of 186 member countries. These countries are jointly responsible for how the institution is financed and how its money is spent.
The bank group uses financial resources and extensive experience to help poor nations reduce poverty, increase economic growth, and improve the quality of life.World Bank provides technical and financial assistance to under developed nations for development schemes like building roads, schools, hospitals, etc. The main aim is to eliminate poverty from the world
The world bank collaborates with numerous other partners and multilateral organizations, including the world health organization (WHO) and the food and agriculture organization (FAO), to realize the most far-reaching results possible.Current global challenges include the financial crisis, high food prices, and climate change.
1) International bank for reconstruction and development (IBRD) .2) International development association (IDA), 1960, 167 members. 3) International finance corporation (IFC),1956, 179 members.4) Multilateral investment guarantee agency (MIGA), 1988, 172 members . 5) International Centre for Settlement of Investment Disputes (I.C.S.I.D), 1966, 143 members .
Working groups of World Bank
The International bank for reconstruction (IBRD) and development, established 1945, 186 members . Each member state of IBRD should be also a member of the International Monetary Fund (IMF) Fiscal 2008 lending: $13.5 billion for 99 new operations in 34 countries. Provides debt financing on the basis of sovereign guarantees.
The Affiliates of The World Bank Group
Share of Total Lending of $24.7 billion .
The world bank (IBRD and IDA), IFC, and MIGA work together as well as independently to reduce poverty, faster growth, and ensure that development is inclusive and sustainable.
Working Groups of World Bank
The world bank in INDIA : India's involvement with the world bank dates back to its earliest days. India was one of the 17 countries which met in Atlantic city, USA in June 1944 to prepare the agenda for the Bretton Woods conference, and one of the 44 countries which signed the final agreement that established the bank. In fact, the name "international bank for reconstruction and development" [IBRD] was first suggested by India to the drafting committee.
The World Bank In India
1- Reduce poverty.2- Develop an investment-environment.3- Increase job opportunities.4- Work towards sustainable economic growth.5- Promote socio-economic growth through investment. 6- Strengthen governments with education. 7- Empower the development of legal and judicial systems, business opportunities and protection of individual rights. 8- Benefit from micro credit as well as large corporate undertakings.
World Bank in India - cont..
9- Combat corruption. 10- Promote research and training opportunities. 11- Provides low-interest loans, Interest-free credits.12- Grants to include investments in education, health.13- Public administration.14- Infrastructure.15- Financial and private sector development.16- Agriculture.17- Environmental and natural resource management.
World Bank in India - cont..
Over the recent period, with a comprehensive program of activities by IBRD, IFC, and MIGA an effort is geared towards supporting the implementation of the ongoing reform program in a rapidly-growing Middle Income Country.
Portfolio includes 17 ongoing projects
The main developmental objective of the project is to build a stronger link between the housing subsidies program and mortgage loans for low and middle income housing, improving market efficiency, transparency, and social targeting.
The main development objective of this project is to contribute to the financially sustainable expansion of health insurance coverage through the adoption of a proven business model for social health insurance (SHI) operations and management by the single national organization of the SHI system.
The additional financing objectives are: (a) To increase the efficiency of drainage (b) To increase agricultural production and improve rural income (c) To identify and oversee the resolution of environmental issues resulting from the discharge into the open drains of untreated industrial and domestic waste water in the project area
The objectives of the Project are to assist the Government of Egypt (GOE) to (i) Enhance the quality of airport services through an increase in the capacity of Cairo International Airport (CAI)(ii) Strengthen air transport in Egypt.
Enhancing Access to Finance for Small and Medium Enterprises ($300 million)
The project's development objective is to contribute to increased access to finance for micro and small enterprises on a sustainable and commercial basis, thus promoting growth, job creation, and an inclusive financial system, as well as ease the impact of the global economic crisis on micro and small enterprises.
Is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sector.
- US held 15.85% of total votes. Major decisions require an 85% majority, so the us effectively holds power of veto. - All 11 presidents have been chosen by the US because it is the bank's biggest shareholder. - The maximum votes are in hands of US and European countries , so poor countries don’t get much benefits. - World Bank imposes anti-communist conditions while giving the loan, as it did with France in 1945.
Though there are many controversies in the policies of World Bank , still it works to bridge this divide and turn rich country resources’ into poor country growth. One of the world’s largest sources of development assistance, the World Bank supports the efforts of developing country governments to build schools and health centers, provide water and electricity , fight disease, and protect against poverty.