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Transcript of World bank
Prepared by Eqbal (Habibi) 3rd Sem (BBM)
WORLD BANK
Logo of World Bank
The World Bank is an internationally supported bank with the membership of 188 countries that provides financial and technical assistance to developing countries for development programs with the stated goal of reducing poverty.
Introduction
Type : International Organization
President : Jim yong Kim
Membership : 188 countries
Headquarters : Washington, DC & more than 100 countries
Staff : About 10000 all over the world
Established : July 1,1944
Lord Keynes (right) and Harry Dexter White (left), the “founding fathers "Of World Bank.The World Bank was created at the 1944, Bretton Woods Conference.Although many countries were represented at the Bretton Woods Conference, But the United States and United Kingdom were the most powerful in attendance and dominated the negotiations.Traditionally, the World Bank has been headed by a citizen of the United States.
History of World Bank
The World Bank was originally established to support reconstruction in Europe after World War II.
Main Office of the World Bank is in Washington DC.
Eugene MeyerEugene Isaac Meyer was an American financier, public official, and newspaper publisher. He was the publisher of the Washington post newspaper.Born in Los Angeles, California on 31oct 1875He grew up in San Francisco and attended college at the University of California, Berkeley but he dropped out after one year and later enrolled at Yale University.. He received his B.A in 1895, and he died on 17 July 1959 in Washington DC.
First president of World bank
Jim Yong KimJim Yong Kim( B.A, MD, PhD) also known as Kim Yong born on December 8, 1959),He is a Korean-American physician and Anthropologist, who has been the 12th President of the World Bank since July 1 2012.
Present President of World Bank
He was formerly the Chairman of the Department of Global Health and Social Medicine at Harvard Medical School, and a co-founder and executive director of Partner In Health. On March 23, 2012, President Barack Obama announced that the United States would nominate Kim Yong as the next president of the World Bank to replace Robert Zoellick, the 11thPresident of World Bank. On April 16, Kim was elected to head the World Bank and took office on July 1 2012.
France was the first borrower for $250 million to finance post-war reconstruction in 1946
Many developed nations who are now donors, were also borrowers, such as Austria, Australia, Denmark, Japan, Italy, Finland, and Greece
WORLD BANK BORROWERS
According to the World Bank's Fiscal Year Top Ten borrowing countries are:
● India tops the table with ($2,578 million).● Vietnam ($1,429 million).● Tanzania ($943 million).● Ethiopia and Nigeria with ($890 million each). ● Bangladesh ($828 million).● Kenya ($614 million).● Uganda ($480 million).● Democratic Republic of Congo ($460 million) .● Ghana ($433 million).
Top 10 borrowing countries.
FIVE AGENCIES – ONE GROUP
The International Bank for Reconstruction and Development (IBRD)
(Established in 1945)
The International Development Association (IDA)
(Established in 1960)
The International Finance Corporation (IFC)
(Established in 1956)
The Multilateral Investment Guarantee Agency (MIGA)
(Established in 1988)
The International Centre for the Settlement of Investment Disputes (ICSID)
(Established in 1966)
WORLD BANK GROUP
Need of World Bank
Need of World Bank
Build Capacity
CREATE INFRASTRUCTURE
DEVELOP FINANCIAL SYSTEM
COMBAT CORRUPTION
OBJECTIVES RECONSTRUCTION WORK
REDUCE POVERTY
REDUCE ILLITERACY
REDUCE DISEASE
REDUCE CORRUPTION, ETC..
Agriculture & Rural Development Economic Policy Education Energy Environment Financial Sector Health, Nutrition & Population Industry Information, Computing and Telecommunication Law and Justice Private Sector Social Protection Trade Water Resources Water Supply and Sanitation
AREA OF OPERATION
Percentage of Use of money On Operational Areas By World Bank in 2012.Total Money $35.3 Billion.
Economic Man-agement
4%
Environmental and Natural Resources
Management11%
Financial and Pri-vate Sector De-
velopment13%
Human Devel-opment
14%Public Sector Gov-ernance
11%
Rule of Law1%
Rural Development15%
Social Develop-ment, Gender, and
Inclusion4%
Social Protection and Risk Man-
agement10%
Trade and Integra-tion5%
Urban Development12%
On Regions in 2012.Total Money $35.3 Billion
Africa21%
East Asia and Pacific19%
Europe and Central Asia
19%
Latin America and
the Caribbean19%
Middle East and North Africa
4%
South Asia18%
It was started to reduce poverty but it support United States’ business interests.
It is deeply implicated in contemporary modes of donor and NGO (Non-governmental Organization) driven imperialism.
The President of the Bank is always a citizen of the United States.
CRITICISM
World bank provides the largest external funds for education.
It is a big support in reducing poverty. It provides fund for biodiversity projects.
It helps to bring clean water, electricity, & transport to poor people.
It helps in controlling emerging conflicts.
5 PRIORITIES OF WORLD BANK
Thank
you