The document outlines several criticisms of the World Bank, including that it supports U.S. business interests rather than reducing poverty as intended, engages in donor-driven imperialism, and has an undemocratic decision-making structure dominated by economically powerful countries. Additionally, the World Bank is criticized for pushing a neo-liberal agenda on developing countries, focusing more on issuing loans than achieving development results, and sometimes increasing poverty and harming the environment. India has been a major borrower from the World Bank for projects involving poverty alleviation, infrastructure, rural development, and more, having borrowed over $65.8 billion, but the Bank also faces criticisms of its influence and priorities.

1. CRITICISMS OF WORLD BANK

2. It was started to
reduce poverty but
it support United
States’ business
interests.
It is deeply implicated in
contemporary modes of
donor and NGO driven
imperialism.
The President of
the Bank is always
a citizen of the
United States.
Lack of
transparency to
external publics.
It is an instrument for the
promotion of U.S. or Western
interests.
The decision-making
structure is undemocratic.
CRITICISMS

3. It has consistently
pushed a “neo-liberal”
agenda , imposing
policies on developing
countries It has been criticized for
focusing too much “on
issuing loans rather than on
achieving real development
results within a finite period
of time”.
The World Bank has
dual roles that are
contradictory: that of
a political
organization and that
of a private
organization.
While the World
Bank represents
189 countries, it
is run by a small
number of
economically
powerful
countries.
Some analysis shows that
the World Bank has
increased poverty and
been harmful to the
environment, public
health and cultural
diversity.
CRITICISMS

4. *INDIAAND WORLD BANK

5. India has been borrowing from the
world bank through IBRD and IDA for
various development projects in the
area of poverty alleviations,
infrastructure, rural development etc.
India has borrowed
around US$ 65.8 billion
from the World Bank so
far.
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.
In fact the name
“International bank for
reconstruction and
development” (IBRD) was
first suggested by India to the
drafting committee

6. In 1958, the Bank played an
important role in establishing
“INDIA Aid Club” for providing
specific economic assistances to
India. It has now been renamed as
‘India Development Forum’
India is the single
largest borrower of
World bank.
WB assistance to India has been mainly for
development purposes. The major projects finance
by the bank are railway, generation of power,
multi-purpose projects, port development,
development of iron and steel industry, coal mining,
agriculture, telecommunication, etc.,