World Bank
Transcript of World Bank
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TOPIC
WORLD BANK
A WORLD FREE OF POVERTY
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CONTENTS• HISTORY
• What is world bank?
• MISSION
• PRESIDENT AND BOARD OF DIRECTORS
• WHO RUNS THE WORLD BANK
• MEMBER COUNTRIES
• OBJECTIVE OF THE WORLD BANK
• FUNCTIONS
• GROUP MEMBERS OF WORLD BANK
• LAST REPORT
• WORLD BANK AND PAKISTAN
• SOURCE OF WORLD BANK FUNDS
• CRITICISM
• CONCLUSION
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HISTORY
• Founded in 1944, at Bretton Woods, New Hampshire
• Initial capital was $10b
• First loan to France in 1947 of $250 million
• 1947 - Incorporation into UN System
• 1979 - Lending for the fiscal year crosses the $10 billion mark for the first time
• James D. Wolfensohn became the Bank president
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WORLD BANK?
• Today, the World Bank functions as an international organization that fights poverty by offering developmental assistance to middle-income and low-income countries.
• By giving loans and offering advice and training in both the private and public sectors.
• The World Bank aims to eliminate poverty by helping people help themselves.
• Under the World Bank Group, there are complimentary institutions that aid in its goals to provide assistance.
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WORLD BANK
Headquarter……
Washington Dc and more than 100 offices in different countries
Staff……
8000 employees in Washington and over 2000 in the field
Largest Funder of…..
Education
Health
Infrastructure
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MISSION• Very simple
• Our dream is a world free of poverty
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PRESIDENT
• First president was James D Wolfensohn
• Current Jim Yong Kim
• President is selected by the executive board of directors
• President is responsible for smooth running of the bank and is forbidden from any political activity
• Representative of world poorest nations
• Must be
• Diplomatic
• Impartial in decision making
• Large organizational running experience
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BOARD OF DIRECTORS
• Board of directors are 24
• They are elected for two years
• 5 from US, Japan, Germany, France and Britain
• 19 Directors represent the rest of the nations like Australia, Cambodia etc.
• Under the IBRD Articles of Agreement, each of the five members having the largest number of shares appoints an Executive Director
• Role…
• President is elected by directors
• Should make decision impartially
• Should meet twice in a week to see the affairs
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WHO RUNS THE WORLD BANK:
• They run like a cooperative, with their member countries as
share holders. The no. 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
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CONT…
• Ultimate Decision-Making Authority: Their
government represented by Board of Governors. These
governors are ministers, such as Ministers of Finance or
Ministers of Development.
• Day-To-Day Decision Making: Governors meet only
once in a year. They give specific duties to their Executive
Directors, who work on-site at the Bank.
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MEMBER COUNTRIES
• 188 countries.
• Pakistan availed membership on 1st July 1950.
• Panama is the first member country of world bank which got membership on 27 Dec 1945.
• South Sudan got recent membership on 18 April 2012.
• To become a member of the Bank, under the IBRD Articles of Agreement.
• A country must first join the International Monetary Fund (IMF).
• Membership in IDA, IFC and MIGA are conditional on membership in IBRD
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OBJECTIVES OF WORLD BANK
• World Bank was to make loans to develop the war shattered economies of Europe in 2nd World War
• World Bank also promote investment by means of guarantee to private sector
• World Bank helps the poorer countries & providing source of advice and information besides making loans
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FUNCTIONS
• Granting loans for
• Reconstruction
• Under develop countries
• Developmental purposes
• Power, Irrigation, Agriculture, Water Supply, Transportation and Health etc. to governments
• Granting loans to private concerns for specified projects
• And also provide technical, economic and monetary advice to member countries for specific projects
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FIVE AGENCIES – ONE GROUP
ICSID
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LAST REPORT OF 2013
• TWO AMBITIOUS GOALS IN A LAST REPORT
3% POVERTY IN 2030
EQUALITY
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WORLD BANK AND PAKISTAN
• FEDERAL LEVEL….
IN 2007 WORLD BANK APROVED US$350 MILLION TO SUPPORT
-- ENCOURAGING GROWTH
--EMPLOYEMENT GENERATION
--INVESTMENT & GOVT POVERTY REDUCTION
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PROVINCIAL LEVEL• AT PROVINCIAL LEVEL WORLD BANK APPROVED US$430 MILLION IN
2007
TO PUNJAB KPK SIND AND BOLOCHISTAN TO HELP IMPROVE
• IRRIGATION
• EDUCATION
• HUMAN DEVELOPMENT INDICATORS
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WORLD BANK AND PAKISTAN
• Providing assistance to Pakistan in various fields…
• Education
• Banking
• Technical Assistance
• Agriculture
• Some projects that have been carried out in Pakistan
• Banking sector technical assistance project
• Ajk community infrastructure and services project
• Kpk on farm water management project
• Ghazi Barotha Hydro Power Project etc
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THE VICTIMS OF EARTHQUAKE :
• IN A 2005 • DEMAGED AROUND 575000 HOUSES• GOVT CREATED AUTHORTHY OF
(ERRA) LAUNCHED US$1.5 BILLION
PARTIALLY FUNDED BY WORLD BANK
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TO HELP PAKISTAN FIGHT AGAINST POLIO:• THEY APPROVED 2 PROJECTS
• IN 2003 US $42.71 MILLION
• IN 2006 US $ 74.27 MILLION
• TO PURCHASE A POLIO VACINE
YEAR NUMBER OF POLIO CASES
1997 1147
2007 31
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SOURCE OF WORLD BANK FUNDS• Quotas
• Bonds
• Income
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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 undemocratic
• It is the instrument for the promotion of us or western interest
• Lack transparency to external public
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CONCLUSION
• Resistance by some government
• Some actions needed to avoid
• Bias
• Corruption
• Influence of US in Banks activities
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THANK YOU for
your concentration