WORLD BANK : SHORT INTRODUCTION HISTORY OF WORLD BANK FUNDINGS FUNCTIONS WORKING GROUPS OF WORLD BANK WORLD BANK IN INDIA CASE ADVATAGES DARK SIDE CONCUSION

The World Bank Group is one of the worlds largest sources of funding and knowledge for developing countries.

The World Bank is a lending institution that funds essential infrastructural requirement, globally. World Bank as an institution that was designed for investment as well as providing loans.

11th President of the World Bank Group

Robert

Bruce

Zoellick

born July 25, 1953



since

July 1,

2007  Nominated by George W. Bush  $ 4,00,000 PA

       

NAME : WORLD BANK H.Q. : WASHINGTON D.C. ESTD. : 27 DEC 1945 MEMBERS : 185 COUNTRIES CURRENT PRESIDENT : ROBERT B. ZOELLICK. STAFF : 10000 IN 100 COUNRIES AUTHORIZED CAPITAL: $184 BILLION FINANCIAL SOURCES : BORROWING ON INTERNATIONAL MARKET

  

 

www.worldbank.org/elibrary Launch: May 20, 2003 The premier collection on international, social and economic development An electronic collection of World Bank publications Includes all titles published since 2000 and several older books Includes 1,800+ backlist titles and all current and forthcoming titles Plus over 2,700 peer reviewed World Bank Research Working Papers
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The World Bank is the outcome of the Bretton Woods Conference, held in 1944. It was launched alongside the International Monetary Fund(IMF), in the presence of a number of important world delegates, and many important policy makers from the United States of America and Britain.

Financial resources are acquired by borrowing on the international bond market. It issues bonds to raise money and then passes on the low interest rates to its borrowers. It is made up of 185 member countries. These countries are jointly responsible for how the institution is financed and how its money is spent.

The Bank Group uses financial resources and extensive experience to help poor nations reduce poverty, increase economic growth, and improve the quality of life.

World Bank provides technical and financial assistance to underdeveloped nations for development schemes like building roads, schools, hospitals, etc. The main aim is to eliminate poverty from the world.

The World Bank collaborates with numerous other partners and multilateral organizations, including the World Health Organization (WHO) and the Food and Agriculture Organization (FAO), to realize the most far-reaching results possible. Current global challenges include the financial crisis, high food prices, and climate change.

 

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)

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The International Bank for Reconstruction and Development Established 1945 185 Members Fiscal 2008 lending: $13.5 billion for 99 new operations in 34 countries provides debt financing on the basis of sovereign guarantees;

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IBRD and IDA Lending by Region

Share of Total Lending of $24.7 billion

Fiscal 2008

Middle East & North Africa 6%

Africa 23%

Latin America & the Caribbean 19%

East Asia & Pacific 18% Europe & Central Asia 17% South Asia 17%

IBRD and IDA Lending by Theme

Share of Total Lending of $24.7 billion

Fiscal 2008

Economic Management Urban Development 2% 12% Trade & Integration 5% Social Protection & Risk Management 4%

Environment & Natural Resource Management 11%

Financial & Private Sector Development 25%

Public Sector Governance 18% Social Development, Gender & Inclusion Rural 4% Development 9%

Human Development Rule of Law 9% 1%

IBRD and IDA Lending by Sector

Share of Total Lending of $24.7 billion
Energy & Mining 17%

Fiscal 2008

Finance 6% Health & Other Social Services 7% Industry & Trade 6% Information & Communication < 1%

Education 8%

Agriculture, Fishing & Forestry 6%

Water, Sanitation & Flood Protection 10% Law & Justice & Public Administration 21% Transportation 19%

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The International Development Association Established 1960 167 Members Fiscal 2008 commitments: $11.2 billion for 199 new operations in 72 countries provides concessional financing (interest-free loans or grants), usually with sovereign guarantees

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The International Finance Corporation Established 1956 179 Members Fiscal 2008 commitments: $11.4 billion committed and $4.8 billion mobilized for 372 projects in 85 countries provides various forms of financing without sovereign guarantees, primarily to the private sector;

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The Multilateral Investment Guarantee Agency Established 1988 172 Members Fiscal 2008 guarantees issued: $2.1 billion provides insurance against certain types of risk, including political risk, primarily to the private sector.

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The International Centre for Settlement of Investment Disputes Established 1966 143 Members Total cases registered: 268 Fiscal 2008 cases registered: 32 works with governments to reduce investment risk;

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The World Bank (IBRD and IDA), IFC, and MIGA work together as well as independently to reduce poverty, faster growth, and ensure that development is inclusive and sustainable

India's involvement with the World Bank dates back to its earliest days. India was one of the 17 countries which met in Atlantic City, USA in June 1944 to prepare the agenda for the Bretton Woods conference, and one of the 44 countries which signed the final Agreement that established the Bank. In fact, the name "International Bank for Reconstruction and Development" [IBRD] was first suggested by India to the drafting committee.

      

  

Reduce poverty. Develop an investment-environment. Increase job opportunities. Work towards sustainable economic growth. Promote socio-economic growth through investment. Strengthen governments with education. Empower the development of legal and judicial systems, business opportunities and protection of individual rights. Benefit from micro credit as well as large corporate undertakings. Combat corruption. Promote research and training opportunities.

        

Provides low-interest loans, Interest-free credits Grants to include investments in education, Health, Public administration, Infrastructure, Financial and private sector development, Agriculture, Environmental and natural resource management.

the World Bank has, in September 2009, agreed to extend budgetary support of $2 million to the Government of India to help public sector banks expand credit for small & medium enterprise (SME), as well as for the development of infrastructure and the rural economy. Moreover, in June 2009, the World Bank provided additional financing of $400 million to the Small Industries Development Corporation of India (SIDBI) to assist India's SME sector through the financial crisis. the World Bank has, in September 2009, agreed to extend $1.195 billion to the India Infrastructure Finance Company Limited (IIFCL) to help finance private-public partnerships in infrastructure, especially in the roads, power and ports sectors.

the World Bank has supported Andhra Pradesh to upgrade its state highways. It is now helping to upgrade rail and road connectivity in Mumbai; improve state highways in Andhra Pradesh, Himachal Pradesh, Kerala, Orissa, Punjab and Uttar Pradesh To help produce engineers of international standards, the World Bank has supported improvements in the quality of education in engineering institutes in 13 states.

SARDAR SAROVAR DAM. World Bank is the financing agency for this project. The World Bank approved a US$520.75 million IDA credit to India in a major new attack on three diseases to Combat Malaria, Kala Azar, and Polio World Bank Approves Two Credits To India For Polio Eradication And Rajasthan District Poverty Initiatives. The World Bank approved two credits to India worth a total of more than US$243 million. The India Immunization Strengthening Project (US$142.6 million) will benefit millions of children countrywide with intensified efforts to eradicate polio and reduce vaccine preventable diseases, while the Rajasthan District Poverty Initiatives Project (US$100.48 million) will empower the poor to develop their communities in the Indian state of Rajasthan. And hundreds of projects like these are there .

Lahore, May 4 (ANI): Pakistan will approach the World Bank (WB) for the appointment of an impartial expert to resolve the Kishanganga power project dispute with India. Indus Water Treaty Commissioner Jamaat Ali Shah said on Sunday that Pakistan was taking the step because the commission on its own could not settle the matter. India has not shown any willingness to sort out the issue [so] we are approaching the WB, The Daily Times quoted Jamaat, as saying.

Is to fight poverty with passion and professionalism for lasting results and to help people help themselves and their environment by providing resources, sharing knowledge, building capacity and forging partnerships in the public and private sectors

 US held 16.4% of total votes. Major decisions

require an 85% majority, so the US effectively holds power of veto. All 11 presidents have been chosen by the US because it is the bank's biggest shareholder. The maximum votes are in hands of US and European countries so poor countries dont get much benefits. World Bank imposes anti-communist conditions while giving the loan, as it did with france in 1945.

Though there are many controversies in the policies of World Bank , still It works to bridge this divide and turn rich country resources into poor country growth. One of the worlds largest sources of development assistance, the World Bank supports the efforts of developing country governments to build schools and health centers, provide water and electricity, fight disease, and protect the environment.