History of World Bank

Topics: World Bank, Development, Poverty Pages: 7 (2571 words) Published: July 13, 2013
The World Bank was established in 1944 with the charter drive two post-war reconstruction. It evolved from the International Bank of Reconstruction and Development, but its present day mission is broader global poverty, together with its affiliates, the International Development Association.. The World Bank provides financial and technical assistance to emerging market countries. The World Bank is not really a common sense of the bank. Instead, it is made ​​up of two development institutions: International Bank for Reconstruction (IBRD) and the International Development Association (IDA) international bank. It has 186 member states. Banks close contact with three other organizations: International Finance Corporation (IFC), Multilateral Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID). Support its goal of reducing global poverty. There are five organizations make-up of the World Bank Group. Since its inception, the World Bank has lent $ 40 billion in grants and credits. On the agenda of the World Bank and other issues, including reducing corruption, promoting education and health care. Bank has a key role, as the world's poorest people represented. Until 1968, the World Bank's main lending money, fiscal conservatism. Today, the World Bank, its lending practices, in order to meet the requirements of the environment and infrastructure around the world. New 'green' focus has been reviewed by a number of developing and less developed countries in order to improve the export and achieve economic equanimity available funds, while safeguarding citizens' facilities and service upgrades. World Bank and the International Monetary Fund (IMF) is an intergovernmental support system dedicated to the improvement of the world financial order. Both are directed by the governments of Member States. The World Bank offers two types of loans: investment and development policies. Although investment loans are those that are forwarded to support economic and social development, development policy loans provide rapid financing to support institutional reforms to reduce Third World debt.

Role of the World Bank

The role of the World Bank launched a useful strategy to combat corruption allow the economy to develop better. Use control corruption programs, such as, codes, pacts, and promised loan to help countries reform their economies and sectorial policies. Mainstreaming through the economic work like country assistance strategies and national dialogue to concern for corruption in Bank Activities. Another economic work such as loan schemes, procurement and financial management, external agencies and public sector management practices, staffing banking activities also can be used. In recent years,problem of global corruption grows increasingly intense. There is growing evidence that corruption undermines being developed. It also prevents foreign to domestic savings and external assistance, but also threatens to undermine the grassroots support to foreign aid effectiveness. Fortunately, there is more than ever a greater opportunity to resolve the problem of corruption at any time. New global standard behavior emerging, driven partly by changes in industrialized countries the attitude of transnational bribery, partly in developing countries, the cost of corruption awareness. So the banks can help countries launched a strategic deal with corruption. The World Bank launched the strategy the bank's legal mandate. Government as lender, to support the efforts of civil society, despite the bank's mandate of organizations, can also help the country control of corruption. For example, the World Bank is very hardly development in the country, because of the major issues of international development policy. Corruption has become such an issue. So the Bank's lending programs and in particular its adjustment lending take into account factors which determine the size and pace of such flows....
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