3. WORLD BANK GROUP
The
World Bank is an international financial
institution that provides financial and technical
assistance to developing countries for
development programs (e.g. bridges, roads,
schools, etc.) with the stated goal of reducing
poverty.
4. Introduction
President :- Jim Yong Kim
Members:- 188 countries
Affiliates:- IFC, MIGA, ICSID
Headquarters :- Washington, DC
Established :- July 1,1944
6. History
The
world bank is one of the two Bretton
Woods Institutions which were created in 27th
December, 1944 to rebuild a Wartorn Europe
after World War II.
7. Mission
“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”.
8. Objectives
Provide
assistance to developing and
transition countries
Promote the economic development of the
world's poorer countries
Finance the poorest developing countries
whose per capita GNP is less than $865 a
year
9. Organization
Its
186 member countries are shareholders.
The shareholders are represented by a Board
of Governors, who are the ultimate policy
makers at the World Bank.
Annual Meetings of the Boards of Governors
held once in a year.
11. Other Member Countries
Total
member countries in each institution:
i. The International Bank for Reconstruction and
Development (IBRD): 188
ii. The International Development Association
(IDA): 169
iii. The International Finance Corporation
(IFC):182
iv. The Multilateral Investment Guarantee
Agency (MIGA): 175
v. The International Centre for Settlement of
Investment Disputes (ICSID): 144
12. World Bank’s Institutions
Five Institutions, One Group:
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)
13. Functions
poverty reduction and the sustainable growth in the
poorest countries, especially in Africa;
solutions to the special challenges of post-conflict
countries and fragile states;
development solutions with customized services as
well as financing for middle-income countries;
regional and global issues that cross national borders-climate change, infectious diseases, and trade;
greater development and opportunity in the Arab
world;
pulling together the best global knowledge to support
development
14. Analytical & advisory services:
It
i.
ii.
provides analysis, advice and information
to member countries through:
economic research and data collection on
broad issues such as the environment,
poverty, trade and globalization;
country-specific, non-lending activities such
as economic and sector work, where it
evaluates a country's economic prospects
by examining its banking systems and
financial markets, trade, infrastructure and
poverty.
It
draws upon the resources like wealth of
contacts, knowledge, information and
experience to educate clients so they can
equip themselves to solve their development
problems and promote economic growth.
15. Analytical & advisory services:
Its
analyses, advice and knowledge are made
available to client countries, their government
and development professionals, and the public
through
Poverty Assessments
Public Expenditure Reviews
Country Economic Reports
Sector Reports
Topics in Development
16. Operations
The
World Bank's two closely affiliated
entities—the (IBRD) and the (IDA)—provide
low or no interest loans (credits) and grants to
countries that have unfavorable or no access
to international credit markets.
It does not operate for profit. The IBRD is
market-based, and it uses its high credit rating
to pass the low interest it pays for money on
to its borrowers—developing countries.
17. Areas Of Operation
Agriculture
and
Rural Development
Economic policy
Education
Energy
Environment
Financial sector
Health, nutrition and
population industry
Information,
computing and
telecommunication
Law and justice
Private sector
Social protection
Trade
Water resources
18. Loans
Through the IBRD and IDA, we offer two basic
types of loans and credits:
i.
investment operations:
Countries use investment operations for goods,
works and services in support of economic and
social development projects in a broad range of
economic and social sectors.
development policy operations:
Development policy operations (formerly known
as adjustment loans) provide quick-disbursing
financing to support a country’s policy and
institutional reforms
ii.
19. Working
The
World Bank is like a cooperative, made up of
188 member countries. These member countries,
or shareholders, are represented by a Board of
Governors, who are the ultimate policymakers at
the World Bank.
The governors delegate specific duties to 25
Executive Directors, who work on-site at the Bank.
The five largest shareholders appoint an executive
director, while other member countries are
represented by elected executive directors.
20. Working
World
Bank Group President Jim Yong Kim chairs
meetings of the Boards of Directors and is
responsible for overall management of the Bank.
The President is selected by the Board of
Executive Directors for a five-year, renewable
term.
The Executive Directors make up the Boards of
Directors of the World Bank. They normally meet
at least twice a week to oversee the Bank's
business, including approval of loans and
guarantees, new policies, the administrative
budget, country assistance strategies and
21. Working
The organizations that make up the World Bank
Group are owned by the governments of member
nations, which have the ultimate decision-making
power within the organizations on all matters,
including policy, financial or membership issues.
Member countries govern the World Bank Group
through the Boards of Governors and the Boards of
Executive Directors. These bodies make all major
decisions for the organizations.
To become a member of the Bank, under the IBRD
Articles of Agreement, a country must first join the
International Monetary Fund (IMF). Membership in
IDA, IFC and MIGA are conditional on membership
in IBRD.
24. Projects in Pakistan
Competitive Industries Project for Khyber
Pakhtunkhwa
Punjab Health Sector Reform Project
Pakistan: Second Sindh Education Sector Project
KP Southern Area Development Project
MDTF FATA Emergency Rural Roads Project
Second Additional Financing for Third Partnership
for Polio Eradication Project
PK: Punjab Cities Governance Improvement
And many more…….
27. Criticism
It
was started to reduce poverty but it support
United States’ business interests.
The President of the Bank is always a citizen
of the United States.
Lack transparency to external publics.
It is used as an instrument for the promotion
of U.S. or Western interests.
The decision-making structure is
undemocratic.
It has consistently pushed a “neo-liberal”
agenda
