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Overview of data and publications of the World Bank

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Buy essey Overview of data and publications of the World Bank

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The World Bank is an international organization that helps emerging market countries to reduce poverty [A Case for aid: Building a consensus for development assistance. - Washington: World Bank, Cop. 2002. - IX, 215 с.]

Following the devastation of World War II, in 1944 the representatives of 44 governments met in Bretton Woods, New Hampshire, in the United States to develop a strategy for rebuilding the international economy. A key outcome of the meeting was the creation of the International Bank for Reconstruction and Development (IBRD), which would become known as the “world bank,” and the International Monetary Fund. Its loans helped European countries rebuild after World War II. That made it the world's first multilateral development bank [https://www.researchgate.net/publication/262206177_Information_and_Communictions_for_Development_Global_Trends_and_Policies_The_International_Bank_for_Reconstruction_and_DevelopmentThe_World_Bank_Washington_DC_The_World_Bank_2006_328_pp_4000_softboun].

When the IBRD began operating in 1946, this new entity had 36 member nations. Today most of the nations of the world— 189 countries—are members. Many developed nations that once borrowed money from the IBRD, including Austria, Denmark, Greece, Italy, and Singapore, are now donors. The United States has a controlling voting interest [U.S. Relations with the World Bank, 1945-92 (Brookings Occasional Papers). – Brookings: Brookings Institution, 1994. – 100 p.]

The IBRD (the main lending institution) raises almost all of its money in the world’s financial markets by selling AAA-rated World Bank bonds to pension funds, insurance companies, corporations, other banks, and individuals around the globe. Bank finances also come from earnings on its investments, fees paid by member countries, contributions made by members (particularly the wealthier ones), and the loans repaid by borrowing countries.

The World Bank first loans were to France and other European countries. In the 1970s, it lent money to Chile, Mexico, and India to build power plants and railways. By 1975, its loans had helped with a wide variety of issues. They included family planning, pollution control, and environmental protections.

Analytic researches show that the World Bank consists of two development institutions. One is the International Bank for Reconstruction and Development. It provides loans, credits, and grants. The second is the International Development Association. It provides low- or no-interest loans to low-income countries.

The Bank works closely with three other organizations in the World Bank Group:

The World Bank Group is managed by its member countries (borrowers, lenders, and donors), and its efforts are coordinated with a wide range of partners, including government agencies, nongovernmental organizations, other aid agencies, and the business, or private, sector. Today 60 percent of staff members of the Bank Group—all five institutions—are based in countries that receive assistance.

The World Bank provides low-interest loans, interest-free credit, and grants. It focuses on improving education, health, and infrastructure. It also uses funds to modernize a country's financial sector, agriculture, and natural resources management [https://b-ok.org/book/2647211/3997d5].

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