CONTENTS What is World Bank ? Formation of the

Transcript:CONTENTS What is World Bank ? Formation of the:
CONTENTS What is World Bank ? Formation of the World Bank Mission of the World Bank World Bank Group World Bank and India The World Bank The IMF and World Bank (IBRD) was conceived at a UN Conference of 44 Nations held at Bretton Woods, New Hampshire, United States, in 7 July 1944 primarily by the ideas of Harry Dexter and John Maynard Keynes. These two international institutions are known as Bretton Woods Twins. The world bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. Example Atal Bhujal Yojana: GOI and World Bank signed loan agreement to improve groundwater in India. The Atal Bhujal Yojana (ABHY) aims to strengthen the institutional framework associated with participatory groundwater management. The World Bank is comprised of two bodies: The International Bank for Reconstruction and Development (IBRD) – this used to be synonymous with the World Bank itself 2. The International Development Association (IDA), added in 1960 The World Bank’s first loan was to France for post-war reconstruction, but after decolonization, and as the European countries got back on their feet, the Bank’s lending has been more focused on poorer nations. Motto: Working for a World free of poverty Formation: July 1944 Headquarters: Washington D.C. U.S Membership: 189 Countries (IBRD), 173 Countries (IDA) President: David Malpass Present Organization: World Bank Group Goal: The world bank’s most recent stated goal is the reduction of poverty. Mission To end Extreme Poverty By reducing the share of the global population that lives in extreme poverty to 3 percent by 2030 The promote shared prosperity By increasing the incomes of the poorest by 40 percent of people in every country. World Bank Group Five Institutions, One Group The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity and promoting sustainable development. The Bank Group works with country governments, the private sector, civil society organizations, regional development banks, think tanks, and other international institutions on issues regarding from climate change, conflict and food security to education, agriculture, finance, and trade. World Bank Group IBRD (International Bank for Reconstruction and Development) IDA (International Development Association) IFC (International Finance Corporation) MIGA (Multilateral Investment Guarantee Agency) ICSID (International Centre for Settlement of Investment Disputes) Partnering with Governments