World Bank

Agenda

WORLD BANK INTRODUTIONHISTORYMEMBERSHIP OF WORLD BANKNEED OF WORLDBANKOPERATIONSAREA OF OPERATIONSSUPPORT TO INDIA5 PRIORTIES OF WORLD BANKINTERNATIONAL MONETARY FUNDDIFFERENCE BETWEEN IMF AND WORLD BANK

INTRODUCTIONThe world bank is an internationally supported bank that provides financial and technical assistance to developing countries for development programs(e.g. bridges, roads, schools) with the stated goal of reducing poverty.

First President: Eugene MenyerPresent president: Jim Yong kimManaging director: Caroline Anstey, Sri Mulyani IndrawatiHeadquarters : Washington, D.C. Employees and offices: more than 9,000 employees in more than 100 offices worldwide.Established: July1, 1944

World bank Mission

1. End extreme poverty within a generation

2. Boost shared prosperity

History

The world bank is one of the Breton Woods Institutions which were created in 1944 to rebuild a war torn Europe after World War II.

Since inception in 1944, the world bank has expanded from a single institution to a closely associated group of five development institutions.

Their mission evolved from the International bank for Reconstruction and Development(IBRD).

Development to the present- day mandate of worldwide poverty alleviation in close coordination with their affiliate.

The international bank of Reconstruction and development(IBRD)

International development association(IDA)International Finance Corporation(IFC)Multilateral Investment Guarantee Agency(MIGA)The international development association, and

other members of the world bank groups.International Centre for Settlement of Investment

Disputes

Membership of world bank The organizations that make up the World

Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations all matters, including policy, financial or membership issues.

To become a member of the bank, under the IBRD articles of agreement, a country must first join the international monetary fund, membership in IDA, IFC and MIGA are conditional on membership in IBRD.

Member countries govern the world bank group through the boards of governors and the boards of executive directors. These bodies make all major decisions for the organizations.

OPERATIONS• Fund generations• Grants• Analytic & Advisory Services• Capacity building• Granting reconstruction &

development loans

• Providing loans to governments & private concerns• Promoting foreign investment• Providing technical, economic and

monetary advice• Encouraging industrial

development

AREA OF OPERATION

Agriculture and rural development

Economic policy Education Energy Environment Financial sector

Health nutrition and population industry

Information , computing and telecommunication

Law and justice Private sector Social protection trade Water resources Water supply and sanitation

Support to India

 India is  home to over one –quarter  of the worlds poor and the world bank group is focused on  sharing best practises as well as financing for development as a part of it s mission to help  reduce global poverty .

5 PRIORITIES OF THE WORLD BANK 

World bank provides  the largest external funds for  education It is a big support  in reducing  poverty It provides for  biodiversity  projects It  helps  to  bring    clean  water  ,  electricity  and   transport to poor people It helps in emerging conflicts 

Difference between IMF & World Bank the International Monetary FundOversees the international

monetary systemPromotes exchange stability and

orderly exchange relations among its member countries

Assists all members- both industrial and developing countries that find themselves in temporary balance of payments difficulties by providing short to medium-term credits

Draws its financial resources principally from the quota subscriptions of its member countries

Has at its disposal fully paid-in quotas now totaling SDR 145 billion(about$215billion)

Has a staff of 2,300 drawn from 182member countries

World Bank

Seeks to promote the economic development of the world’s poorer countries

Assists developing countries through long-term financing of development projects and programs

Provides to the poorest developing countries whose per capita GNP is less than $865 a year special financial assistance through the international development association(IDA)

Acquires most of its financial resources by borrowing on the international bond market

Has an authorized capital of $184 billion, of which members pay in about 10 percent

Has a staff of 7,000 drawn from 180 member countries

WHO RUNS THE WORLD BANK: They run like a cooperative, with their

member countries as share holders. The number of shares a country has is based on the size of the economy.

Largest share holder: United State(16.41% of votes)

Followed by Japan (7.87%) Germany (4.49%) The united kingdom (4.31%) France (4.31%) The rest of the shares are divided among the

other member countries

CRITICISM

It was started to reduce poverty but it support united nations business interest

The president of the bank is always is the citizen of US

The decision making structure is undemocraticIt is the instrument for the promotion of US or

western interestLack transparency to external public

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