The World Bank is an international financial institution that provides
loans to developing countries for capital programs.
The World Bank's official goal is the reduction of poverty.
The World Bank is a lending institution that funds essential
infrastructural requirement, globally.
The World Bank differs from the World Bank Group, in that the World
Bank comprises only two institutions: the International Bank for
Reconstruction and Development (IBRD) and the International
Development Association (IDA)
World Bank Group incorporates these two in addition to three more:
International Finance Corporation (IFC), Multilateral Investment
Guarantee Agency (MIGA), and International Centre for Settlement of
Investment Disputes (ICSID).
NAME : WORLD BANK
H.Q. : WASHINGTON D.C.
ESTD. : 27 DEC 1945
MEMBERSHIP : 185 COUNTRIES
CURRENT PRESIDENT : ROBERT B. ZOELLICK.
STAFF : 10000 IN 100 COUNRIES
AUTHORIZED CAPITAL : $184 BILLION
FINANCIAL SOURCES : BORROWING ON
Conceived during World War II (July, 1944) at Bretton
Woods, New Hampshire.
1944 - 1968: Bank president John McCloy selected
France to be first recipient of World Bank aid. The loan
was for US$250 million.
1968 - 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.
Initially was called the International Bank for
Reconstruction and Development (IBRD). Now is called
the ―World Bank Group
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
Current global challenges include the financial crisis, high food
prices, and climate change.
Post-war reconstruction and
A homogeneous staff of
engineers and financial
analysts, based solely in
Heavy infrastructure investment
A multidisciplinary and
diverse staff including
economists, public policy
experts, sectoral experts,
and social scientists; 40%
Social sector lending projects,
poverty alleviation, and the
International Bank for Reconstruction and Development
International Development Association (IDA)
International Finance Corporation (IFC)
Multilateral Investment Guarantee Agency (MIGA)
International Centre for Settlement of Investment Disputes
The International Bank for Reconstruction and Development
(IBRD) lends to governments of middle-income and creditworthy
The International Development Association (IDA) provides
interest-free loans—called credits— and grants to governments
of the poorest countries.
The International Finance Corporation (IFC) provides loans,
equity and technical assistance to stimulate private sector
investment in developing countries
The Multilateral Investment Guarantee Agency (MIGA)
provides guarantees against losses caused by non-commercial
risks to investors in developing countries
The International Centre for Settlement of Investment Disputes
(ICSID) provides international facilities for conciliation and
arbitration of investment disputes.
On 30 May 2007, US President George W.
Bush nominated former deputy secretary of
state Robert Zoellick as the 11th President of
the World Bank, effective 1st July 2007.
Zoellick announced in October, 2007 that his
priorities for the World Bank included
increasing efforts to reduce poverty in the
world's poorest countries, increasing support
for neglected Arab countries, increasing
support for countries emerging from violent
conflicts, addressing poverty in "emerging"
economies like India and China, increasing
emphasis on environmental issues (especially
global warming), and improving access to
treatments for HIV and malaria.
The Executive Directors, representing the Bank's member countries,
make up the Board of Directors, usually meeting twice a week to
oversee activities such as the approval of loans and guarantees, new
policies, the administrative budget, country assistance strategies and
borrowing and financing decisions.
The Vice Presidents of the Bank are its principal managers, in charge
of regions, sectors, networks and functions. There are 24 Vice-
Presidents, three Senior Vice Presidents and two Executive Vice
Chief Economist – Justin Yifu
Lin (june 2008), a Chinese
economist, is the chief
economist and senior vice
president of the world bank
The World Bank's work plan in India is spelt out in its Country
The Country Strategy for India for 2009-2012 is aligned with the
government's Eleventh Five Year Plan.
It focuses on helping the country to fast-track the development of
much-needed infrastructure, support the seven poorest states, and
respond to the financial crisis.
The strategy envisages total proposed lending of US$14 billion for
2009 - 2012.
The strategy is implemented through lending, dialogue, analytical
work, engagement with the private sector, and capacity building
Commitments FY05 FY06 FY07 FY08 FY09 FY10
New Lending 2.9 1.4 3.7 2.7 2.3 9.3
12.8 11.3 14.3 13.8 14.9 21.4
Total No. of Active
64 56 67 60 61 75
At the end of June 30, 2010, the World Bank group had 75 active projects in
the country. The net commitment for these projects was about $21.4 billion.
New lending in FY10 (1 July 2009- 30 June 2010) amounted to $9.3 billion.
Total IBRD/IDA Commitments as on June 30,2010 (FY10): $21.4 billion
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%),
and India (2.91%).
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 and Saudi Arabia were
World Bank Releases US$500 million to Assist Philippine
Government Address Impacts of Devastating Storm : The
World Bank released US$500 million to assist the Philippine
government’s recovery and reconstruction efforts in the wake of
tropical storm Washi, locally known as Sendong, which devastated
parts of the country during December 17-18, 2011.
World Bank Group to Provide up to $5.5 billion to Pakistan
for Next Three Years: The World Bank Group (WBG) will
continue to support Pakistan’s poverty reduction and development
agenda with an assistance of up to $5.5 billion over the FY 12-14,
according to the World Bank’s Country Partnership Strategy
Progress Report (CPSPR).
Brazil: More Reliable, Affordable and Sustainable Power for All:
Brazil’s energy and mining sectors are among the largest in the
developing world, and have contributed significantly to the country’s
growth in recent years. However, both still face challenges to realize
their full development potential and promote environmental
sustainability and social inclusion. To support Brazil’s efforts to meet
these challenges, the World Bank has approved a US$ 49.6 million
loan for the Energy and Mineral Sectors Strengthening Project.
World Bank to Finance Better Health Services for up to 8 Million
Tanzanians a Year: – Up to 8 million Tanzanians should have access
to better health services each year from now until 2015 following
World Bank approval of US$100 million for the Basic Health
Services Project. The new project is designed to build on Tanzania’s
success in improving access to health services, which has helped to
cut infant and child mortality rates by nearly half over the past