The world bank

History,Features,Objectives,Five agencies

1. The World bank Presented by Vishnu M V Grace Maria Joseph

2. World Bank is an international financial institution that provides loans to developing countries for development programs. (e.g. bridges, roads, schools etc) The World Bank has the goal of reducing poverty. WORLD BANK

3. World Bank was formed on  July 1944   at the  Bretton Woods Conference. It was originally created as the International Bank for Reconstruction and Development (IBRD) along with its twin, the IMF. Together they came to be known as the ‘Bretton Woods twin sisters’. history

4. The World Bank was created at the end of World War II as a result of many European and Asian countries needing financing to fund reconstruction efforts. The Bank is successful in providing financing for these destroyed countries. In early 1946 this international bank launched its carrier as the Multilateral Development Bank and since then the IBRD came to be known as the World Bank. Headquarter of World Bank is located at  Washington D.C. (U.S.A.)

5. Fact file Formation : July 1944; 71 years ago Type : Monetary International Financial Organization Headquarters : Washington D.C. (U.S.A.) Membership : 188 countries (IBRD) 173 countries (IDA) Official language : Arabic, Chinese, English, French, Russian, Spanish President : Jim Yong Kim Parent organization : World Bank Group

6. International Bank for Reconstruction and Development – IBRD This is an institution within the World Bank that aims to reduce poverty in middle- income and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and analytical and advisory services. It was established in 1944 .

7. International Development Association - IDA It helps poor nations to reduce the poverty. They give loans as credits and grants. It is known as “ soft lending arm of the world bank” . Because it gives interest free loans to the poor nations. It was established in 1960.

8. International Finance Corporation - IFC Established in 1956.It gives investment and advisory services to build the private sector in developing nations. Multilateral Investment Guarantee Agency – MIGA Established in 1988. MIGA encourage foreign investments in developing nations by providing guarantees to foreign investors against the loss caused by non-commercial risk.

9. International Center for the Settlement of Investment Disputes - ICSID Founded in 1966, is an autonomous body , which facilitate , settlement of dispute between foreign investors and their host nations.

10. The World Bank is active in the following areas are :- 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

11. Functions To help in reconstruction and development of member countries. Spread peace all over the world regarding financial terms. Helps to developing and less developed countries by crediting the finance. To promote private foreign investments.

12. To promote long term balanced growth of international trade. Maintenance of equilibrium in balance of payments of member countries and also to increase the standard of living as well as labour conditions of developing and less developed countries. Investment of money in productive purposes only. 

13. Objectives Investing in people, particularly through basic health and education Focusing on social development, inclusion, governance and institution building as the major elements of poverty alleviation Strengthening the ability of the governments to deliver quality services with greater efficiency and transparency Protecting the environment Supporting and encouraging private business development and long term planning.

14. World bank’s top borrowers Mexico Brazil Turkey Pakistan China India Argentina

15. World bank’s top contributor’s U S A 16.39% Japan 7.87 % Germany 4.49% UK 4.30% France 4.30%

16. India and World Bank India was one of the 17 countries which met in Atlantic City, USA in July 1944 to prepare the agenda for Bretton Wood conference. In fact the name International Bank for Reconstruction and Development (IBRD) was first suggested by India to the drafting committee. The bank lending to India started in 1949, when the first loan of $34 million was approved for the Indian railways.

17. The aggregate of the bank’s lending in India in the last 45 years was approximately $42 million. India is the single largest borrower of world bank and IDA. The world bank group’s Partnership Strategy for India (2013-17) will help India lay the formation for achieving “faster ,sustainable and more inclusive growth” as outlined in the govt’s 12 th five year plan. The world bank will support India with an integrated package of financing, advisory services and knowledge. During the world bank financial year (July 2013-June 2014),funding for India was $5.2 billion across 16 projects.

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