World Bank

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Not to be confused with World Bank Group.
World Bank

World Bank logo
Motto
Working for a World Free of Poverty
Established
July 1945
Type
International organization
Legal status
Treaty
Purpose
Crediting
Location
Washington D.C., United States.
Membership
188 countries
[1]
(IBRD)
172 countries (IDA)
President
Jim Yong Kim
Main organ
Board of Directors
[2]

Parent organization
World Bank Group
Website
worldbank.org
The World Bank is a United Nations international financial institution that
provides loans
[3]
to developing countries forcapital programs. The World Bank is a component of
the World Bank Group, and a member of the United Nations Development Group.
The World Bank's official goal is the reduction of poverty. According to its Articles of Agreement, all
its decisions must be guided by a commitment to the promotion of foreign
investment and international trade and to the facilitation of capitalinvestment.
[4][5]

Contents
[hide]
1 Composition
o 1.1 World Bank Group
2 History
o 2.1 19441968
o 2.2 19681980
o 2.3 19801989
o 2.4 1989present
2.4.1 Criteria
3 Leadership
o 3.1 List of Presidents
4 List of chief economists
5 Members
o 5.1 Voting power
6 List of 20 Largest Countries by Voting Power in Each World Bank
Institution
7 Poverty reduction strategies
8 Global Partnerships and Initiatives
o 8.1 Climate Change
o 8.2 Food Security
9 Training wings
o 9.1 World Bank Institute
o 9.2 Global Development Learning Network
9.2.1 GDLN Asia Pacific
o 9.3 The JUSTPAL Network
10 Country assistance strategies
11 Clean Air Initiative
12 United Nations Development Business
13 Open Data initiative
14 Criticisms
o 14.1 Structural adjustment
o 14.2 Fairness of assistance conditions
o 14.3 Sovereign immunity
15 See also
16 References
17 External links
Composition[edit]
World Bank Group[edit]
The World Bank should not be confused with the United Nations World Bank Group, a member of
the United Nations Economic and Social Council, and a family of five international organizations that
make leveraged loans to poor countries:
[6]

International Bank for Reconstruction and Development (IBRD)
International Development Association (IDA)
International Finance Corporation (IFC)
Multilateral Investment Guarantee Agency (MIGA)
International Centre for Settlement of Investment Disputes (ICSID)
History[edit]

Lord Keynes (right) and Harry Dexter White, the "founding fathers" of both the World Bank and theInternational
Monetary Fund (IMF).
[7]

The World Bank was created at the 1944 Bretton Woods Conference, along with three other
institutions, including the International Monetary Fund (IMF). The World Bank and the IMF are both
based in Washington, D.C., and work closely with each other.
Although many countries were represented at the Bretton Woods Conference, the United States and
United Kingdom were the most powerful in attendance and dominated the negotiations.
[8]:5254

19441968[edit]
Before 1968, the reconstruction and development loans provided by the World Bank were relatively
small. The Bank's staff was aware of the need to instill confidence in the bank. Fiscal
conservatism ruled, and loan applications had to meet strict criteria.
[8]:5660

The first country to receive a World Bank loan was France. The Bank's president at the time, John
McCloy, chose France over two other applicants, Poland and Chile. The loan was for US$250
million, half the amount requested, and it came with strict conditions. France had to agree to produce
a balanced budget and give priority of debt repayment to the World Bank over other governments.
World Bank staff closely monitored the use of the funds to ensure that the French government met
the conditions. In addition, before the loan was approved, theUnited States State Department told
the French government that its members associated with the Communist Party would first have to be
removed. The French government complied with this diktat and removed the Communist coalition
government. Within hours, the loan to France was approved.
[9]:288, 290291

When the Marshall Plan went into effect in 1947, many European countries began receiving aid from
other sources. Faced with this competition, the World Bank shifted its focus to non-European
countries. Until 1968, its loans were earmarked for the construction of income-producing
infrastructure, such as seaports, highway systems, and power plants, that would generate enough
income to enable a borrower country to repay the loan.
19681980[edit]
From 1968 to 1980, the bank concentrated on meeting the basic needs of people in the developing
world. The size and number of loans to borrowers was greatly increased as loan targets expanded
from infrastructure into social services and other sectors.
[10]

These changes can be attributed to Robert McNamara who was appointed to the presidency in 1968
by Lyndon B. Johnson.
[8]:6063
McNamara imported a technocratic managerial style to the Bank that
he had used as United States Secretary of Defense and President of the Ford Motor
Company.
[8]:62
McNamara shifted bank policy toward measures such as building schools and
hospitals, improving literacy and agricultural reform. McNamara created a new system of gathering
information from potential borrower nations that enabled the bank to process loan applications much
faster. To finance more loans, McNamara told bank treasurer Eugene Rotberg to seek out new
sources of capital outside of the northern banks that had been the primary sources of bank funding.
Rotberg used the global bond market to increase the capital available to the bank.
[11]
One
consequence of the period of poverty alleviation lending was the rapid rise of third world debt. From
1976 to 1980 developing world debt rose at an average annual rate of 20%.
[12][13]

In 1980, the World Bank Administrative Tribunal was established to decide on disputes between the
World Bank Group and its staff where allegation of non-observance of contracts of employment or
terms of appointment had not been honored.
[14]

19801989[edit]
In 1980, McNamara was succeeded by US President Jimmy Carter's nominee, A.W. Clausen.
Clausen replaced many members of McNamara's staff and instituted a new ideological focus. His
1982 decision to replace the bank's Chief Economist, Hollis B. Chenery, with Anne Krueger was an
indication of this new focus. Krueger was known for her criticism of development funding and for
describing Third World governments as "rent-seeking states."
During the 1980s, the bank emphasized lending to service Third-World debt, and structural
adjustment policies designed to streamline the economies of developing nations. UNICEFreported in
the late 1980s that the structural adjustment programs of the World Bank had been responsible for
"reduced health, nutritional and educational levels for tens of millions of children in Asia, Latin
America, and Africa".
[15]

1989present[edit]
Beginning in 1989, in response to harsh criticism from many groups, the bank began including
environmental groups and NGOs in its loans to mitigate the past effects of its development policies
that had prompted the criticism.
[8]:9397
It also formed an implementing agency, in accordance with
the Montreal Protocols, to stop ozone-depletion damage to the Earth's atmosphere by phasing out
the use of 95% of ozone-depleting chemicals, with a target date of 2015. Since then, in accordance
with its so-called "Six Strategic Themes," the bank has put various additional policies into effect to
preserve the environment while promoting development. For example, in 1991, the bank announced
that to protect against deforestation, especially in the Amazon, it would not finance any commercial
logging or infrastructure projects that harm the environment.
In order to promote global public goods, the World Bank tries to control communicable disease such
as malaria, delivering vaccines to several parts of the world and joining combat forces. In 2000, the
bank announced a "war on AIDS", and in 2011, the Bank joined the Stop Tuberculosis
Partnership.
[16]

Traditionally, based on a tacit understanding between the United States and Europe, the president of
the World Bank has always been selected from candidates nominated by the United States. In 2012,
for the first time, two non-US citizens were nominated.
On 23 March 2012, U.S. President Barack Obama announced that the United States would
nominate Jim Yong Kim as the next president of the Bank.
[17]
Jim Yong Kim was elected on 27 April
2012.

The World Bank Group headquarters bldg. inWashington, D.C.
Criteria[edit]
Many achievements have brought the Millennium Development Goals targets for 2015 within reach
in some cases. For the goals to be realized, six criteria must be met: stronger and more inclusive
growth in Africa and fragile states, more effort in health and education, integration of the
development and environment agendas, more and better aid, movement on trade negotiations, and
stronger and more focused support from multilateral institutions like the World Bank.
[18]

1. Eradicate Extreme Poverty and Hunger: From 1990 through
2004, the proportion of people living in extreme poverty fell from
almost a third to less than a fifth. Although results vary widely
within regions and countries, the trend indicates that the world
as a whole can meet the goal of halving the percentage of
people living in poverty. Africa's poverty, however, is expected
to rise, and most of the 36 countries where 90% of the world's
undernourished children live are in Africa. Less than a quarter
of countries are on track for achieving the goal of halving under-
nutrition.
2. Achieve Universal Primary Education: The percentage of
children in school in developing countries increased from 80%
in 1991 to 88% in 2005. Still, about 72 million children of
primary school age, 57% of them girls, were not being educated
as of 2005.
3. Promote Gender Equality: The tide is turning slowly for
women in the labor market, yet far more women than men-
worldwide more than 60% are contributing but unpaid family
workers. The World Bank Group Gender Action Plan was
created to advance women's economic empowerment and
promote shared growth.
4. Reduce Child Mortality: There is some what improvement in
survival rates globally; accelerated improvements are needed
most urgently in South Asia and Sub-Saharan Africa. An
estimated 10 million-plus children under five died in 2005; most
of their deaths were from preventable causes.
5. Improve Maternal Health: Almost all of the half million women
who die during pregnancy or childbirth every year live in Sub-
Saharan Africa and Asia. There are numerous causes of
maternal death that require a variety of health care
interventions to be made widely accessible.
6. Combat HIV/AIDS, Malaria, and Other Diseases: Annual
numbers of new HIV infections and AIDS deaths have fallen,
but the number of people living with HIV continues to grow. In
the eight worst-hit southern African countries, prevalence is
above 15 percent. Treatment has increased globally, but still
meets only 30 percent of needs (with wide variations across
countries). AIDS remains the leading cause of death in Sub-
Saharan Africa (1.6 million deaths in 2007). There are 300 to
500 million cases of malaria each year, leading to more than 1
million deaths. Nearly all the cases and more than 95 percent of
the deaths occur in Sub-Saharan Africa.
7. Ensure Environmental Sustainability: Deforestation remains
a critical problem, particularly in regions of biological diversity,
which continues to decline. Greenhouse gas emissions are
increasing faster than energy technology advancement.
8. Develop a Global Partnership for Development: Donor
countries have renewed their commitment. Donors have to fulfill
their pledges to match the current rate of core program
development. Emphasis is being placed on the Bank Group's
collaboration with multilateral and local partners to quicken
progress toward the MDGs' realization.
To make sure that World Bank-financed operations do not compromise these goals but instead add
to their realisation, environmental, social and legal Safeguards were defined. However, these
Safeguards have not been implemented entirely yet. At the World Bank's annual meeting in Tokyo
2012 a review of these Safeguards has been initiated which was welcomed by several civil society
organisations.
[19]

Leadership[edit]

Jim Yong Kim, the current President of the World Bank Group
The President of the Bank is the president of the entire World Bank Group. The president,
currently Jim Yong Kim, is responsible for chairing the meetings of the Boards of Directors and for
overall management of the Bank. Traditionally, the Bank President has always been a US citizen
nominated by the United States, the largest shareholder in the bank (the Managing Director of
the International Monetary Fund having always been a European). The nominee is subject to
confirmation by the Board of Executive Directors, to serve for a five-year, renewable term. While
most World Bank presidents have had banking experience, some have not.
[20][21]

The vice presidents of the Bank are its principal managers, in charge of regions, sectors, networks
and functions. There are two Executive Vice Presidents, three Senior Vice Presidents, and 24 Vice
Presidents.
[22]

The Boards of Directors consist of the World Bank Group President and 25 Executive Directors. The
President is the presiding officer, and ordinarily has no vote except a deciding vote in case of an
equal division. The Executive Directors as individuals cannot exercise any power nor commit or
represent the Bank unless specifically authorized by the Boards to do so. With the term beginning 1
November 2010, the number of Executive Directors increased by one, to 25.
[23]

List of Presidents[edit]
Name Dates Nationality Background
Eugene Meyer
1946
1946
United
States
Newspaper publisher
John J.
McCloy
1947
1949
United
States
Lawyer and US Assistant Secretary of War
Eugene R.
Black, Sr.
1949
1963
United
States
Bank executive with Chase and executive director with the World
Bank
George Woods
1963
1968
United
States
Bank executive with First Boston Corporation
Robert
McNamara
1968
1981
United
States
US Defense Secretary, business executive with Ford Motor Company
Alden W.
Clausen
1981
1986
United
States
Lawyer, bank executive with Bank of America
Barber
Conable
1986
1991
United
States
New York State Senator and US Congressman
Lewis T.
Preston
1991
1995
United
States
Bank executive with J.P. Morgan
Sir James
Wolfensohn
1995
2005
United
States
Wolfensohn was a naturalised American citizen before taking office.
Corporate lawyer and banker
Paul
Wolfowitz
2005
2007
United
States
Various cabinet and government positions; US Ambassador to
Indonesia, US Deputy Secretary of Defense
Robert
Zoellick
2007
2012
United
States
Bank executive with Goldman Sachs, Deputy Secretary of State and
US Trade Representative
Jim Yong Kim
2012
present
United
States
A naturalised American citizen before taking office. Physician and
anthropologist, co-founder of Partners in Health and 17th President
of Dartmouth College.
[24]
Elected on 16 April 2012.
Jos Antonio Ocampo, Ngozi Okonjo-Iweala, and Jim Yong Kim were candidates for the 2012
election. It was announced on 16 April 2012, that Jim Yong Kim will succeed Robert Zoellick as
president, continuing the chain of successive World Bank president nominees from the United
States.
[25]

List of chief economists[edit]
Main article: World Bank Chief Economist
Hollis B. Chenery (19721982)
Anne Osborn Krueger (19821986)
Stanley Fischer (19881990)
Lawrence Summers (19911993)
Michael Bruno (19931996)
Joseph E. Stiglitz (19972000)
Nicholas Stern (20002003)
Franois Bourguignon (20032007)
Justin Yifu Lin (June 2008 2012 )
Kaushik Basu (September 2012-)
Members[edit]
Main article: List of World Bank members
The International Bank for Reconstruction and Development (IBRD) has 188 member countries,
while the International Development Association (IDA) has 172 members. Each member state of
IBRD should be also a member of the International Monetary Fund (IMF) and only members of IBRD
are allowed to join other institutions within the Bank (such as IDA).
[26]

Voting power[edit]
In 2010, voting powers at the World Bank were revised to increase the voice of developing countries,
notably China. The countries with most voting power are now the United States (15.85%), Japan
(6.84%), China (4.42%), Germany (4.00%), the United Kingdom (3.75%), France
(3.75%), India (2.91%),
[27]
Russia (2.77%), Saudi Arabia (2.77%) and Italy(2.64%). Under the
changes, known as 'Voice Reform Phase 2', countries other than China that saw significant gains
included South Korea, Turkey, Mexico, Singapore, Greece, Brazil, India, and Spain. Most developed
countries' voting power was reduced, along with a few poor countries such as Nigeria. The voting
powers of the United States, Russia andSaudi Arabia were unchanged.
[28][29]

The changes were brought about with the goal of making voting more universal in regards to
standards, rule-based with objective indicators, and transparent among other things. Now,
developing countries have an increased voice in the "Pool Model," backed especially by Europe.
Additionally, voting power is based on economic size in addition to International Development
Association contributions.
[30]

List of 20 Largest Countries by Voting Power in Each World Bank
Institution[edit]
The following table are amounts for 20 largest countries by voting power in the following World Bank
institutions as of July 2014: the International Bank for Reconstruction and Development (IBRD),
the International Finance Corporation (IFC), the International Development Association (IDA), and
the Multilateral Investment Guarantee Agency (MIGA).
[31]

The 20 Largest Countries by voting power (Number of Votes)
Ran
k
Country
IBR
D
Country IFC Country IDA Country
MIG
A

World
2,044,88
World
2,649,53
World
23,804,70
World 218,321
The 20 Largest Countries by voting power (Number of Votes)
Ran
k
Country
IBR
D
Country IFC Country IDA Country
MIG
A
4 3 9
1
United
States
306,793
United
States
570,178
United
States
2,546,503
United
States
32,792
2
Japan
166,048
Japan
163,333
Japan
2,044,447
Japan
9,207
3
China
107,198 Germany 129,707
United
Kingdom
1,409,037 Germany 9,164
4 Germany 93,105 France 121,814 Germany 1,319,536 France 8,793
5
France
82,896
United
Kingdom
121,814
France
908,581
United
Kingdom
8,793
6
United
Kingdom
82,896
India
103,652
Saudi
Arabia
772,020
China
5,758
7
India
62,494
Russia
103,652
India
661,909
Russia
5,756
8 Canada 58,958 Canada 82,141 Canada 623,798
Saudi
Arabia
5,756
9
Italy
51,556
Italy
82,141
Italy
573,632
India
5,599
10
Russia
46,435
China
62,392
China
495,213 Canada 5,453
The 20 Largest Countries by voting power (Number of Votes)
Ran
k
Country
IBR
D
Country IFC Country IDA Country
MIG
A
11
Saudi
Arabia
46,435
Netherlan
ds
56,930 Poland 474,294
Italy
5,198
12 Spain 42,902 Belgium 51,409
Netherlan
ds
464,187
Netherlan
ds
4,050
13
Netherlan
ds
42,302 Australia 48,128 Sweden 463,538
Belgium
3,805
14
Brazil
34,626
Switzerlan
d
44,862
Brazil
389,780 Australia 3,247
15
Switzerlan
d
33,250
Brazil
40,278 Australia 293,625
Switzerlan
d
2,871
16
Belgium
33,018 Argentina 38,928
Belgium
258,893
Brazil
2,834
17 Iran 32,097
Spain
37,825
Switzerlan
d
253,747
Spain
2,493
18
South
Korea
31,566
Indonesia
30,892
Norway
242,552 Argentina 2,438
19 Australia 30,864
Saudi
Arabia
30,861 Denmark 218,104 Indonesia 2,077
20
Turkey
26,247
South
Korea
28,894
Spain
206,661 Sweden 2,077
Poverty reduction strategies[edit]
For the poorest developing countries in the world, the bank's assistance plans are based on poverty
reduction strategies; by combining a cross-section of local groups with an extensive analysis of the
country's financial and economic situation the World Bank develops a strategy pertaining uniquely to
the country in question. The government then identifies the country's priorities and targets for the
reduction of poverty, and the World Bank aligns its aid efforts correspondingly.
Forty-five countries pledged US$25.1 billion in "aid for the world's poorest countries", aid that goes to
the World Bank International Development Association (IDA) which distributes the loans to eighty
poorer countries. While wealthier nations sometimes fund their own aid projects, including those for
diseases, and although IDA is the recipient of criticism, Robert B. Zoellick, the former president of
the World Bank, said when the loans were announced on 15 December 2007, that IDA money "is the
core funding that the poorest developing countries rely on".
[32]

World Bank organizes Development Marketplace Awards which is a competitive grant program that
surfaces and funds innovative, development projects with high potential for development impact that
are scalable and/or replicable. The grant beneficiaries are social enterprises with projects that aim to
deliver a range of social and public services to the most underserved low-income groups.
Global Partnerships and Initiatives[edit]
The World Bank has been assigned temporary management responsibility of the Clean Technology
Fund (CTF), focused on making renewable energy cost-competitive with coal-fired power as quickly
as possible, but this may not continue after UN's Copenhagen climate change conference in
December 2009, because of the Bank's continued investment incoal-fired power plants.
[33]

Together with the WHO, the World Bank administers the International Health
Partnership (IHP+). IHP+ is a group of partners committed to improving the health of citizens in
developing countries. Partners work together to put international principles for aid effectiveness and
development cooperation into practice in the health sector. IHP+ mobilizes national governments,
development agencies, civil society and others to support a single, country-led national health
strategy in a well-coordinated way.
Climate Change[edit]
World Bank President Jim Yong Kim said in 2012 that:
A 4 degree warmer world can, and must be, avoided we need
to hold warming below 2 degrees .... Lack of action on climate
change threatens to make the world our children inherit a
completely different world than we are living in today. Climate
change is one of the single biggest challenges facing
development, and we need to assume the moral responsibility to
take action on behalf of future generations, especially the
poorest.
[34]

A World Bank report into Climate change in 2012 noted that (p. xiii):
"Even with the current mitigation commitments and pledges fully
implemented, there is roughly a 20 percent likelihood of exceeding
4C by 2100." This is despite the fact that the "global community
has committed itself to holding warming below 2C to prevent
'dangerous' climate change"". Furthermore: "A series of recent
extreme events worldwide highlight the vulnerability of all countries.
... No nation will be immune to the impacts of climate change."
[35]

The World Bank doubled its aid for climate change adaptation from
$2.3bn (1.47bn) in 2011 to $4.6bn in 2012. The planet is now
0.8C warmer than in pre-industrial times. It says that 2C warming
will be reached in 20 to 30 years.
[36][37]

Food Security[edit]
Main article: Food security
1. Global Food Security Program: Launched in April 2010, six
countries alongside the Bill and Melinda Gates Foundation
have pledged $925 mn for food security. Till date the
program has helped 8 countries, promoting agriculture,
research, trade in agriculture, etc.
2. Launched Global Food Crisis Response Program: Given
grants to approximately 40 nations for seeds, etc. for
improving productivity.
3. In process of increasing its yearly spending for agriculture
to $6 billion$8 billion from earlier $4 billion.
4. Runs several nutrition program across the world, e.g.,
vitamin A doses for children, school meals, etc.
[citation needed]

Training wings[edit]
World Bank Institute[edit]
The World Bank Institute (WBI) creates learning opportunities for
countries, World Bank staff and clients, and people committed to
poverty reduction and sustainable development. WBI's work
program includes training, policy consultations, and the creation and
support of knowledge networks related to international economic
and social development.
The World Bank Institute (WBI) can be defined as a "global
connector of knowledge, learning and innovation for poverty
reduction". It aims to inspire change agents and prepare them with
essential tools that can help achieve development results. WBI has
four major strategies to approach development problems:
innovation for development, knowledge exchange, leadership and
coalition building, and structured learning. World Bank
Institute(WBI) was formerly known as Economic Development
Institute (EDI), established on 11 March 1955 with the support of
the Rockefeller and Ford Foundations. The purpose of the institute
was to serve as provide an open place where senior officials from
developing countries could discuss development policies and
programs. Over the years, EDI grew significantly and in 2000, the
Institute was renamed as the World Bank Institute. Currently Sanjay
Pradhan is the Vice President of the World Bank Institute.
[38]

Global Development Learning Network[edit]
The Global Development Learning Network (GDLN) is a partnership
of over 120 learning centers (GDLN Affiliates) in nearly 80 countries
around the world. GDLN Affiliates collaborate in holding events that
connect people across countries and regions for learning and
dialogue on development issues.
GDLN clients are typically NGOs, government, private sector and
development agencies who find that they work better together on
subregional, regional or global development issues using the
facilities and tools offered by GDLN Affiliates. Clients also benefit
from the ability of Affiliates to help them choose and apply these
tools effectively, and to tap development practitioners and experts
worldwide. GDLN Affiliates facilitate around 1000 videoconference-
based activities a year on behalf of their clients, reaching some
90,000 people worldwide. Most of these activities bring together
participants in two or more countries over a series of sessions. A
majority of GDLN activities are organized by small government
agencies and NGOs.
GDLN Asia Pacific[edit]
The GDLN in the East Asia and Pacific region has experienced
rapid growth and Distance Learning Centers now operate, or are
planned in 20 countries: Australia, Mongolia, Cambodia, China,
Indonesia, Singapore, Philippines, Sri Lanka, Japan, Papua New
Guinea, South Korea, Thailand, Laos, Timor Leste, Fiji,
Afghanistan, Bangladesh, India, Nepal and New Zealand. With over
180 Distance Learning Centers, it is the largest development
learning network in the Asia and Pacific region. The Secretariat
Office of GDLN Asia Pacific is located in the Center of Academic
Resources of Chulalongkorn University, Bangkok, Thailand.
GDLN Asia Pacific was launched at the GDLN's East Asia and
Pacific regional meeting held in Bangkok from 22 to 24 May 2006.
Its vision is to become "the premier network exchanging ideas,
experience and know-how across the Asia Pacific Region". GDLN
Asia Pacific is a separate entity to The World Bank. It has endorsed
its own Charter and Business Plan and, in accordance with the
Charter, a GDLN Asia Pacific Governing Committee has been
appointed.
The committee comprises China (2), Australia (1), Thailand (1), The
World Bank (1) and finally, a nominee of the Government of Japan
(1). The organization is currently hosted by Chulalongkorn
University in Bangkok, Thailand, founding member of the GDLN
Asia Pacific.
The Governing Committee has determined that the most
appropriate legal status for the GDLN AP in Thailand is a
"Foundation". The World Bank is currently engaging a solicitor in
Thailand to process all documentation in order to obtain this legal
status.
GDLN Asia Pacific is built on the principle of shared resources
among partners engaged in a common task, and this is visible in the
organizational structures that exist, as the network evolves.
Physical space for its headquarters is provided by the host of the
GDLN Centre in Thailand Chulalongkorn University; Technical
expertise and some infrastructure is provided by the Tokyo
Development Learning Centre (TDLC); Fiduciary services are
provided by Australian National University (ANU) Until the GDLN
Asia Pacific is established as a legal entity tin Thailand, ANU, has
offered to assist the governing committee, by providing a means of
managing the inflow and outflow of funds and of reporting on them.
This admittedly results in some complexity in contracting
arrangements, which need to be worked out on a case by case
basis and depends to some extent on the legal requirements of the
countries involved.
The JUSTPAL Network[edit]
A Justice Sector Peer-Assisted Learning (JUSTPAL) Network was
launched in April 2011 by the Poverty Reduction and Economic
Management (PREM) Department of the World Banks Europe and
Central Asia (ECA) Region. The JUSTPAL objective is to provide an
online and offline platform for justice professionals to exchange
knowledge, good practices and peer-driven improvements to justice
systems and thereby support countries to improve their justice
sector performance, quality of justice and service delivery to citizens
and businesses.
The JUSTPAL Network includes representatives of judiciaries,
ministries of justice, prosecutors, anti-corruption agencies and other
justice-related entities from across the globe. The Network currently
has active members from more than 50 countries.
To facilitate fruitful exchange of reform experiences and sharing of
applicable good practices, the JUSTPAL Network has organized its
activities under (currently) five Communities of Practice (COPs): (i)
Budgeting for the Justice Sector; (ii) Information Systems for Justice
Services; (iii) Justice Sector Physical Infrastructure; (iv) Court
Management and Administration; and (v) Prosecution and Anti-
Corruption Agencies.
Country assistance strategies[edit]
As a guideline to the World Bank's operations in any particular
country, a Country Assistance Strategy is produced, in cooperation
with the local government and any interested stakeholders and may
rely on analytical work performed by the Bank or other parties.
Clean Air Initiative[edit]
Clean Air Initiative (CAI) is a World Bank initiative to advance
innovative ways to improve air quality in cities through partnerships
in selected regions of the world by sharing knowledge and
experiences. It includes electric vehicles.
[39]

United Nations Development Business[edit]
Based on an agreement between the United Nations and the World
Bank in 1981, Development Business became the official source for
World Bank Procurement Notices, Contract Awards, and Project
Approvals.
[40]

In 1998, the agreement was re-negotiated, and included in this
agreement was a joint venture to create an electronic version of the
publication via the World Wide Web. Today,Development
Business is the primary publication for all major multilateral
development banks, United Nations agencies, and several national
governments, many of whom have made the publication of their
tenders and contracts in Development Business a mandatory
requirement.
[40]

The World Bank or the World Bank Group is also a sitting observer
in the United Nations Development Group.
[41]

Open Data initiative[edit]
The World Bank collects and processes large amounts of data and
generates them on the basis of economic models. These data and
models have gradually been made available to the public in a way
that encourages reuse,
[42]
whereas the recent publications
describing them are available as open access under a Creative
Commons Attribution License, for which the bank received the
SPARC Innovator 2012 award.
[43]
The World Bank hosts the Open
Knowledge Repository (OKR)
[44]
as an official open access
repository for its research outputs and knowledge products.
The World Bank's repository is listed in the Registry of Research
Data Repositories re3data.org.
[45]

Criticisms[edit]
The World Bank has long been criticized by non-governmental
organizations, such as the indigenous rights group Survival
International, and academics, including its former Chief
Economist Joseph Stiglitz, Henry Hazlitt and Ludwig Von
Mises.
[46][47][48]
Henry Hazlitt argued that the World Bank along with
the monetary system it was designed within would promote world
inflation and "a world in which international trade is State-
dominated" when they were being advocated.
[49]
Stiglitz argued that
the so-called free market reform policies which the Bank advocates
are often harmful to economic development if implemented badly,
too quickly ("shock therapy"), in the wrong sequence or in weak,
uncompetitive economies.
[47][50]

One of the strongest criticisms of the World Bank has been the way
in which it is governed. While the World Bank represents 188
countries, it is run by a small number of economically powerful
countries. These countries (which also provide most of the
institution's funding) choose the leadership and senior management
of the World Bank, and so their interests dominate the
bank.
[51]:190
Titus Alexander argues that the unequal voting power of
western countries and the World Bank's role in developing countries
makes it similar to the South African Development Bank under
apartheid, and therefore a pillar of global apartheid.
[52]:133141

In the 1990s, the World Bank and the IMF forged the Washington
Consensus, policies which included deregulation and liberalization
of markets, privatization and the downscaling of government.
Though the Washington Consensus was conceived as a policy that
would best promote development, it was criticized for ignoring
equity, employment and how reforms like privatization were carried
out. Joseph Stiglitz argued that the Washington Consensus placed
too much emphasis on the growth of GDP, and not enough on the
permanence of growth or on whether growth contributed to better
living standards.
[48]:17

The United States Senate Committee on Foreign Relations report
criticized the World Bank and other international financial
institutions for focusing too much "on issuing loans rather than on
achieving concrete development results within a finite period of
time" and called on the institution to "strengthen anti-corruption
efforts".
[53]

Criticism of the World Bank often takes the form of protesting as
seen in recent events such as the World Bank Oslo 2002
Protests,
[54]
the October Rebellion,
[55]
and the Battle of
Seattle.
[56]
Such demonstrations have occurred all over the world,
even amongst the Brazilian Kayapo people.
[57]

Another source of criticism has been the tradition of having an
American head the bank, implemented because the United States
provides the majority of World Bank funding. "When economists
from the World Bank visit poor countries to dispense cash and
advice," observed The Economist in 2012, "they routinely tell
governments to reject cronyism and fill each important job with the
best candidate available. It is good advice. The World Bank should
take it."
[58]
Jim Yong Kim is the most recently appointed president of
the World Bank.
[59]

Structural adjustment[edit]
The effect of structural adjustment policies on poor countries has
been one of the most significant criticisms of the World
Bank.
[60]
The 1979 energy crisis plunged many countries into
economic crisis.
[61]:68
The World Bank responded with structural
adjustment loans which distributed aid to struggling countries while
enforcing policy changes in order to reduce inflation and fiscal
imbalance. Some of these policies included
encouraging production, investment and labour-intensive
manufacturing, changing real exchange rates and altering the
distribution of government resources. Structural adjustment policies
were most effective in countries with an institutional framework that
allowed these policies to be implemented easily. For some
countries, particularly in Sub-Saharan Africa, economic growth
regressed and inflation worsened. The alleviation of poverty was not
a goal of structural adjustment loans, and the circumstances of the
poor often worsened, due to a reduction in social spending and an
increase in the price of food, as subsidies were lifted.
[61]:69

By the late 1980s, international organizations began to admit that
structural adjustment policies were worsening life for the world's
poor. The World Bank changed structural adjustment loans,
allowing for social spending to be maintained, and encouraging a
slower change to policies such as transfer of subsidies and price
rises.
[61]:70
In 1999, the World Bank and the IMF introduced the
Poverty Reduction Strategy Paper approach to replace structural
adjustment loans.
[62]:147
The Poverty Reduction Strategy Paper
approach has been interpreted as an extension of structural
adjustment policies as it continues to reinforce and legitimize global
inequities. Neither approach has addressed the inherent flaws
within the global economy that contribute to economic and social
inequities within developing countries.
[62]:152
By reinforcing the
relationship between lending and client states, many believe that
the World Bank has usurped indebted countries' power to determine
their own economic policy.
[63]

Fairness of assistance conditions[edit]
Some critics,
[64]
most prominently the author Naomi Klein, are of the
opinion that the World Bank Group's loans and aid have unfair
conditions attached to them that reflect the interests, financial power
and political doctrines (notably the Washington Consensus) of the
Bank and, by extension, the countries that are most influential within
it. Amongst other allegations, Klein says the Group's credibility was
damaged "when it forced school fees on students in Ghana in
exchange for a loan; when it demanded that Tanzania privatise its
water system; when it made telecom privatisation a condition of aid
for Hurricane Mitch; when it demanded labour "flexibility" in Sri
Lanka in the aftermath of the Asian tsunami; when it pushed for
eliminating food subsidies in post-invasion Iraq."
[65]

Sovereign immunity[edit]
The World Bank requires sovereign immunity from countries it deals
with.
[66][67][68]
Sovereign immunity waives a holder from all legal
liability for their actions. It is proposed that this immunity from
responsibility is a "shield which [The World Bank] wants to resort to,
for escaping accountability and security by the people."
[66]
As the
United States has veto power, it can prevent the World Bank from
taking action against its interests.
[66]

See also[edit]
Energy Sector Management Assistance Program (ESMAP)
BRICS Development Bank
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