Mission: "Our dream is a world without poverty".
- Headquarters: The World Bank is headquartered in the city of Washington and has more than 100 country offices. Foundation: The World Bank was founded on July 1, 1944 at a conference held in Bretton Woods, New Hampshire, in which representatives of 44 governments participated. Number of member countries: 184 Staff: The World Bank has some 8,000 employees in the Washington city and more than 2,000 on the ground.
WORLD BANK
President 2005: JAMES D. WOLFENSOHN
The five organizations that make up the World Bank are: IBRD, IDA, IFC, MIGA and ICSID
WHO IS THE WORLD BANK?
The World Bank is one of the world's leading sources of development assistance. Its main goal is to help the poorest people and countries. The Bank uses its financial resources, highly specialized staff, and broad knowledge base to help developing countries on the path to stable, sustainable, and equitable growth
WHAT IS THE WORLD BANK?
It is a group of associated organizations, which constitute the so-called "World Bank Group". It is one of the specialized agencies of the United Nations and is made up of 184 member countries.
The goals agreed at the United Nations Millennium Summit
1. Eradicate extreme poverty and hunger
2. Achieve universal primary education
3. Promote gender equality and enhance women's capacity for action
4. Reduce child mortality
5. Combat HIV / AIDS, malaria and other diseases
6. Ensure environmental sustainability
7. Create a global partnership for development
THE ROLE OF THE WORLD BANK
The World Bank supports both developed and developing countries in the form of financing, guarantees, analytical and advisory studies, debt relief, capacity-building initiatives, and monitoring and advocacy activities at the country level. world.
The World Bank's poverty reduction strategy is based on strengthening the investment climate and investing in the poor.
HISTORY
- Conceived during the Second World War in Bretton Woods, New Hampshire, the World Bank initially helped rebuild Europe after the war. The Bank's first loan, worth $ 250 million, was granted to France in 1947 to post-war reconstruction. Reconstruction remains an important aspect of the Bank's work, as developing and transition economies are affected by natural disasters and humanitarian emergencies and must carry out post-conflict rehabilitation activities. However, the Bank is now focusing more attention on poverty reduction as the main objective of its work.
COMPOSITION AND OPERATION
The World Bank Group is made up of five closely associated institutions.
The term "World Bank Group" encompasses all five institutions, while "World Bank" specifically refers to two of them, IBRD and IDA.
INSTITUTIONS
- The International Bank for Reconstruction and Development IBRD The International Development Association: IDA The International Finance Corporation CFIE The Multilateral Investment Guarantee Agency OMGIE The International Center for Settlement of Investment Disputes ICSID
The International Bank for Reconstruction and Development IBRD
- The IBRD has an AAA credit rating. IBRD Borrowers: This group is made up of middle-income countries. The Bank's role is essentially to facilitate access to higher capital volumes under more favorable conditions and with longer maturities. and greater sustainability than those offered by the market. IBRD loans (and IDA loans) are generally accompanied by non-credit services aimed at ensuring that the funds are used in the most efficient way.
The International Development Association: IDA
- It focuses on granting credit in "softer" conditions to countries with personal income. Annual capita less than $ 925. IDA interest-free loans have a repayment term of 35-40 years with a 10-year grace period. IDA funding comes from a donor association. In the future, between 18% and 21% of IDA resources will be used to make grants.
The IFC International Finance Corporation
IFC's mission is to promote economic development through the private sector.
* Invest in sustainable private companies in developing countries and provide long-term loans, guarantees, and risk management and advisory services to its clients.
* Regions and sectors that receive insufficient investments from private sources
The main objectives of the IFC are to provide business capital and capital loans for private companies, partnering with private investors and managers; foster the development of local capital markets and stimulate the international flow of private capital.
The MIGA Multilateral Investment Guarantee Agency
- Promotes foreign investment. Provides technical assistance to help countries disseminate information on investment opportunities. Provides investment dispute mediation services.
The ICSID International Center for Settlement of Investment Disputes
ICSID contributes to promoting foreign investment by providing international investment dispute settlement and arbitration services, thereby helping to promote a climate of mutual trust between countries and foreign investors. The Center's arbitration services have been provided in many international investment agreements. ICSID also conducts research and compiles publications related to arbitration and foreign investment legislation.
Associations
In its fight against poverty, the World Bank Group collaborates with a wide variety of partners, including:
* International organizations
* World Bank Institute: an association for learning and knowledge acquisition
* Affiliated organizations
* Civil society
* Companies and the private sector
* Donors and co-financing
* Students and academic circles
* Local community
GENERAL FEATURES
- The World Bank provides funds with low interest rates, without interest or in the form of donations to countries that do not have access to international capital markets or that can only access them under favorable conditions. The Bank tries to reduce this difference in income and convert resources from rich countries to growth for poor countries. The World Bank, which is one of the world's leading sources of development assistance, supports the efforts of developing country governments to build schools and desalination centers, supply water and electricity, fight disease and protect the environment. ambient.It provides significant sums of money to low-income countries, which generally cannot obtain loans in international markets or can only obtain them with very high interest rates. (repayment of money within 35-40 years) Governments of developing countries borrow funds for specific programs, such as activities to fight poverty, provide social services, protect the environment and promote growth economic, to improve living standards. The World Bank raises seven areas of vital importance in order to pay special attention to them: Education for all; HIV AIDS; maternal and child health; water supply and sanitation; the climate for investment and finance; trade, and environmental sustainability.Poverty does not only depend on lack of income, but there are many other situations that affect it. Poverty means not having a "voice" to influence crucial decisions that affect the lives of the poor, nor representation in state and national political institutions. The World Bank also manages Sector Strategies which help shape the approach and Bank activities in specific sectors or thematic areas, identifying the areas in which the country achieves less favorable results in order to give them priority attention. These strategies are developed (and reviewed every three years) after general consultations, which are increasingly open to participation in electronic form. The sector strategy for: urban transport, forests, is currently being examined.Water resources, rural development, environment, information and communication technologies and private sector development For countries, achieving the Millennium Development Goals or making effective use of any type of assistance will depend on the firmness and comprehensiveness of their development strategies and its degree of commitment to development. Donations are an integral part of the Bank's development work. The bank seeks to prevent corruption. It depends on the function of government, that external financing is used effectively in the fight against poverty, it must be administered honestly and transparently.Achieving the Millennium Development Goals or making effective use of any type of assistance will depend on the firmness and comprehensiveness of your development strategies and your degree of commitment to development. Donations are an integral part of the Bank's development work. bank seeks to prevent corruption. It depends on the function of government, that external financing is used effectively in the fight against poverty, it must be administered honestly and transparently.Achieving the Millennium Development Goals or making effective use of any type of assistance will depend on the firmness and comprehensiveness of your development strategies and your degree of commitment to development. Donations are an integral part of the Bank's development work. bank seeks to prevent corruption. It depends on the function of government, that external financing is used effectively in the fight against poverty, it must be administered honestly and transparently.external financing to be used effectively in the fight against poverty must be administered honestly and transparentlyexternal financing to be used effectively in the fight against poverty must be administered honestly and transparently
Within the guidelines established by the Bank regarding the process for granting loans, there are:
- Within the guidelines established by the Bank regarding the process for granting loans, there are: The Bank offers two basic types of loans: investment loans to acquire goods and contract works and services in support of economic and social development projects in various sectors, and adjustment loans that provide fast-disbursing financing in support of political and institutional reforms. Once the borrower has decided and prepared his project proposal, the Bank examines its feasibility. negotiating the loan, the Bank and the borrower mutually agree on the development objective, the components and products of the project, the performance indicators,an execution plan and a schedule for disbursement of funds Once the Bank has approved the loan and it becomes effective, the borrower executes the project or program in accordance with the conditions agreed upon with the Bank. The Bank supervises the execution of Each loan and evaluates its results All loans are governed by the World Bank's operational policies, which aim to ensure that the activities financed by the Bank are well-founded from an economic, financial, social and environmental point of view. Bank is approved, it must be shown that it will not harm people or the environment. The Bank, in addition to the environmental evaluations that are carried out for all projects, has official policies regarding natural habitats,pest control, cultural property, involuntary resettlement, indigenous populations, forests, dam security, projects in international watercourses and projects in disputed areas.
