Role of IMF, World Bank, and Development Banks

Role of IMF and World Bank Essay example
Introduction
The world's major international financial institutions represent paradoxical ideals in their quest to satisfy the needs of both developed and developing
nations. These institutions are chartered with helping poor nations but are criticized for their neo–colonial policies. Member nations are all considered
equal, but contributions make some more equal than others. Mostly, these organizations are managed by rich nations that usurp the autonomy of
developing nations in the pursuit of free markets and economic reform.
This paper will examine the roles of the International Monetary Fund and World Bank with parallels to the Asian Development Bank and African
Development Bank Group. It will include descriptions of these...show more content...
The IMF was first conceptualized in 1944 at the UN–sponsored Monetary and Financial Conference in Bretton Woods, New Hampshire. Renowned
economist John Maynard Keynes and Assistant Secretary to the U.S. Treasury, Harry Dexter White, are credited as "principal architects" of the
organization that began financial operations in 1947. Along with the Bank for International Settlements (BIS) and the World Bank, these institutions
define the monetary policy shared by almost all countries with market economies.
Countries apply for membership in the IMF, then once approved, receives a quota to determine their voting weight, access to IMF financing and other
provisions. Today, a primary mission of the IMF is to provide financial assistance to countries experiencing serious economic difficulties.Member states
request assistance in the form of loans or management support in return for agreeing to enact economic reforms within their country.
The role of the three Bretton Woods institutions became controversial during the Cold War as policy makers allegedly supported unsavory governments
that favored U.S. and European corporations. Additionally, IMF critics say the organization is apathetic to abuses in human rights abuses, labor rights
and democracy, sparking the modern anti–globalization
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The Imf And The World Bank Essay
Globalization Learning Journal 2 Throughout this section of the class, the IMF and the World Bank have been studied extensively. All students have
come away with different ideas about these two organizations. In the following paragraphs, I will attempt to explain my own thoughts on the IMF and
the World Bank. Mainly, that their practices are insufficient for accountability and do threaten the sovereignty of certain nations. I will also attempt to
explain why I think this is the case. The first item of importance, however, is to go through what the goals and criticisms are of these two organizations.
The goals of the IMF are "global monetary cooperation, securing financial stability, facilitating international trade, promoting high employment and
sustainable economic growth, and reducing poverty around the world." (IMF – About, 2016). In comparison, the goals of the World Bank are less
obviously stated due to the fact that they are an organization with many sub organizations within it. The overarching goal, however, seems to be
around assisting countries with both poverty alleviation and economic development (About the World Bank, 2016). Both the IMF and the World
Bank have similar goals, and they also have similar criticisms as well. In terms of the IMF, several of the criticisms are as follows: "They do not
generally specialize in the economies of the countries whose policies they oversee, often do not live in those countries and mostly work from
Washington, D.C. and

The World Bank Essay
The World Bank
Bureaucracy is one of the pillars of modern western society. Although this statement is debatable from many aspects, most would agree that, at the
very least, our lives are greatly affected by bureaucracy. Bureaucracy is the 'pure form of rational organization' (Newson, Jan 11). Not only is it a
method for achieving goals efficiently and effectively, but it is acclaimed as the most able strategy to meet objectives. TheWorld Bank is a classic
example of a bureaucratic organization. It embodies all the characteristics necessary to qualify; from its complicated hierarchy and impersonal relations,
to the specialization and career orientation of its employees. However, not everyone agrees on the competency of the bureaucratic...show more content...
It is a relatively small organization, and immensely respected, which allows it to chose its staff from the best in the world. However, the Bank's rules
and traditions do not allow these top notch women and men to work at maximum efficiency. It is an organization trapped in its own structure, stifling
the staff which works for it. Lower level employees are silenced by a hierarchy which provides few methods for the expressing of opinions, and in
fact discourages dissent. This commitment to orthodoxy has caused the Bank to fall behind on its development strategies in comparison to the rest of
the world. Nevertheless it is not an organization composed of stupid people and is aware –– of at least some –– of its faults.
Although attempts have been made to restructure the Bank, they have only ended up further focusing the Bank on its orthodox path. Quantity, instead
of quality, has become its purpose and is causing further havoc in the countries to which it loans (part II countries). Instead of dealing with these
problems, it fools itself and others into believing in a positive end result; ignoring the rule
'the ends do not justify the means' not to mention the fact that many do not foresee a positive end. To deal with the image problem created by its own
disasters, the World Bank has attempted to make itself appear more effective.
Yet it seems to have forgotten that what is important is not the image but the results. This is what has

What is the World Bank? Essay
During, and in the years after the World War 2, there was a significant need of financial aid, especially in Europe. The structural US were almost
untouched, and their economy was rising. Soon they became the new superpower. At a conference held in Bretton Woods, New Hampshire, in 1944,
the World Bank (WB) was founded for purposes of reconstruction in Europe. The head office was placed in Washington, and the bank president was
American. When the economic situation in Europe stabilized, the WB shifted its focus. The WB evolved from being a postwar lender in Europe, into
one of the most influential financial institution today, because of its funding in the development world on different continents. This text will deal with
the World Bank,...show more content...
So the output is proportional to machines, if you change the amount of machines, you get the same change in output. "Domar's model was not intended
as a growth model, made no sense as a growth model and was repudiated as a growth model, so it is ironic that Domar's growth model became and
continues to be today the most applied growth model in economic history." (Easterly, Elusive Quest for Growth p.28) The result of the use of this
economic model was short term. The growth stopped quickly, and even more money was invested. Easterly argues that the models used for growth,
unfortunately was influenced by the great depression, with huge unemployment, and the industrialization of Soviet. What applies to one country and
one situation does not necessarily go well in another. Many of the poor countries used import substituted industrializations, making their own goods
instead of importing cheaper and better merchandise. By the start of the 80s, countries such as Mexico were in so deep debt, that they could not afford
to pay the interest rate. (Easterly, Elusive Quest for Growth) The end of the 80's and communism introduced the Washington Consensus. The
Consensus was a long term structural adjustment, where the recipients of financial aid relied on some fundamental conditions. The loaner needed to
apply free trade and private enterprise. This became a contributory factor for the introduction of capitalism

Conclusion Of The World Bank
Conclusion: The World Bank was founded to address what we would today call imperfections in international capital markets. Its founders thought
that countries would borrow from the Bank temporarily, until they grew enough to borrow commercial loan. The Bank could arguably address capital
market failures if private banks would not lend to truly creditworthy projects in developing countries out of fear that they would not be repaid. In that
case, a multilateral institution backed by the world's governments might be able to secure repayment. Some critiques and analyses of the Bank are
based on the assumption that this continues to be its role. For example, some argue that the growth of private capital flows to the developing world
has rendered the Bank irrelevant. We will argue that modern analyses should proceed from the premise that the Bank's central goal is and should be to
reduce extreme poverty, and that addressing failures in global capital markets is now of subsidiary importance. The overwhelming majority of Bank
subsidies from its shareholder countries go to the International Development Association (IDA), its arm for making grants and highly concessional
loans to the lowest–income countries, and other. funding vehicles for the same countries. The Bank's greatest impact comes from its role in the
dramatic policy changes many developing countries have undertaken in multiple sectors that most economists would consider likely to reduce poverty,
either by increasing growth

This is the second Global Financial Development Report published by the World Bank. It seeks to contribute to enhancing the knowledge of financial
inclusion around the world. In the recent times, financial inclusion has become an important aspect for economic and social development of an
economy and has become a significant topic of discussion for the policy makers, market practitioners etc. Financial inclusion has been given a lot
importance in our country and this can be proven by the recently launched 'Pradhan Mantri Jan Dhan Yojana' which aims to provide abank account for
every household. This report provides us with new data and research filling certain gaps in the knowledge of financial inclusion.
Financial inclusion, as defined in the report, is the proportion of individuals and firms that use financial services. The new evidence as given in the
report suggests that financial inclusion can lead to a reduction in poverty, boost shared prosperity and support inclusive and sustainable development.
A range of theoretical models demonstrate that lack of access to finance can lead poverty traps and inequalities. Empirical evidence on the impact of
financial inclusion leads to a situation that is far from distinct. The evidence varies by the type of financial services provided. For basic savings and
payments, evidence is quite supportive. Similarly for insurance products there is some positive impact, although studies on the impact of
microinsurance are inconclusive. As

The Failure Of The World Bank Essay
The Failure of the World Bank's Sardar Sarovar Dam project in India
Lira Samanta
The World Bank is known to fund many infrastructure projects in developing countries, presumably as a means to achieve their goals of increasing
development in those countries. Hydroelectric dams are some of the much–maligned infrastructure projects funded by the World Bank. In a report
authored by employees of the World Bank itself, the authors themselves highlight the "adverse environmental and related social impacts" of large
dams, while attempting to draw a distinction between "relatively good dams and bad dams". (Ledec & Quintero, 2003)
One example of a hydroelectric dam funded by the World Bank is the Sardar Sarovar Dam in India. The World Bank funded Sardar Sarovar in 1985,
approving $450 million in loans for the development of this dam. (Bosshard, 2008)
This development was envisioned as part of the Narmada Valley Development Project, also known as the "Narmada Project", the scope of which
included the provisioning of thirty large dams, 135 medium dams, and 3000 small dams. Of these, the Sardar Sarovar is one of the larger and most
publicly troubling projects. The Indian government's many claims about this dam have included that it would irrigate roughly 1.8 million hectares of
land in the state of Gujarat, irrigate 73,000 hectares of land in the nearby state Rajasthan, and provide drinkable water to roughly 8000 Gujarati
villages and 125 urban centers. (Narula, 2008)
Despite these

World Bank Essay
Norman Pongracz:
Nature's strange game
What happened? I still remember those days in spring, those strange times. I think of the noise of workers, the apparently scared people, who lived
on the bank of the river Bodrog. This time of the year was always special in Sarospatak, my home town; this part of the year was the flood season.
Groups of people, helpful volunteers gathered, and started to build an obstacle on the two sides of the river, to prevent the frightening mass of water
flowing, and drowning the city.
Everybody was very optimistic, the people thought in general, that we can avoid letting the water ruin our homes, in other words we can prevail
against the nature. However, in the row of floods we had every spring, we...show more content...
The countries held conferences all over the world, summoning the best of the scientist, to solve the increasing problems of climate change. Kyoto
Protocol was born in Japan, to prevent the increase of carbon dioxide, which was considered to be the main cause of the global warming. Some nations
however considered this as a threat to the stability to their economy, so they rejected it, making this project a less successful policy. However this was
only the first big step; that humanity has done to handle the problems of climate–change.
In some ways politics and science did great effort, to create the sustainable growth concept, they just had forgotten to act in favor of this new ideology;
in the recent years we have not seen anything important to happen, and conditions were getting worse. News from all over the country and the world
were indicating that nature's strange game is changing our future and society. As I said earlier: we felt that while the past was about the humanity, the
future was in the hand of the planet and the environment.
The seasons had been becoming more and more extreme in the past few years: the summer's sun is burning down the forest, the winter's snow is
freezing the country to the bones, and we cannot find any ease during the spring and fall. The older people are sensitive to extreme

United Nations Foundation
Professional Organization Report
WRT293 Introduction to Professional Writing
Edmundo Gomez
December 5, 2016
The World Bank The World Bank is an international organization that strives to work with countries to end poverty and increase global economic
growth. Created in 1944 they have locations in five countries, each managed by their host country and are headquarter in Washington, DC. With over
10,000 employees the World Bank supplies countries with the tools needed to progress and sustain.
According to the "What We Do" page The World Bank has two missions which they base all their work on. The first is to bring down to below three
percent the number of people living on $1.99 and to promote the economic growth of the bottom forty percent of every country (para. 1).
They do this by offering low interest loans, credit and grants to countries in need. Additionally, they give policy advisement based on top research that
is used to inform countries on investment opportunities. Because many financial issues that countries face are based on social issues The World Bank
has conducted research that aims to better improve the life of women, people of color and other disenfranchised communities.
The Annual Meeting with International Monetary Fund and World Bank Group The Annual Meeting is held every year in the spring and according to
their event website over 11,000 people participated in both formal and informal talks on corruption,

What Are The Objectives Of The World Bank
The World Bank was created at the 1944 Bretton Woods Conference, along with three other institutions, including the International Monetary Fund
(IMF). The president of the World Bank is, traditionally, an American. The World Bank and the IMF are both based in Washington, D.C., and work
closely with each other.
Before 1968, the reconstruction and development loans provided by the World Bank were relatively small. The Bank staffs were aware of the need to
instil confidence in the bank. Fiscal conservatism ruled, and loan applications had to meet strict criteria.
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.
During the 1980s, the bank emphasized lending to service Third–World debt, and structural adjustment policies...show more content...
Furthermore, Senior Advisors and Advisors assist the Executive Directors in their work, who can, along with the Alternates to Executive Directors,
attend most Board meetings in an advisory capacity, without voting rights.
Objectives:
The World Bank was established to promote long–term foreign investment loans on reasonable terms. The, purposes of the Bank, as set forth in the
'Articles of Agreement' are as follows:
(i) To assist in the reconstruction and development of territories of members by facilitating the investВ¬ment of capital for productive purpose
including;
(a) The restoration of economies destroyed or disrupted by war;
(b) The reconversion of productive facilities to peaceful needs; and
(c) The encouragement of the development of productive facilities and resources in under developing countries;
(ii) To promote private investment by means of guarantee or participation in loans and other investments made by private

Introduction
Considering the international organizations all could be a complex function in terms of the World problems. This essay discusses the role of the
International Monetary Fund and the World Bank positions in the World life. The essay will reflects the two organizations purposes, also provide an
inside to the operation system, decision making, structure and shows some example for the failure or success of the institutions.
Finding
International Monetary Fund (IMF) aims to maintain and defeat and sometimes to restrain the financial crises. (BBC, 2012) Basically it was created to
avoid another Great Depression with an economical cooperation. It was founded more than 60 years ago at the end of the II World War. (International
Monetary Fund, 2015) Mostly the institution has directed to focus the developing world. Nowadays there are few purposes of the IMF such as
monetary stability, exchange rate stability, facilitate trade, help their members with balance the payment difficulties and also to help with the poverty
reduction. (International Monetary Fund, 2015)
The International Bank for Reconstruction and Development which was the forerunner of the World Bank (WB) – was established to handle post–war
renewal. Nowadays the organisation is the biggest leading development institution and basically operating for growth and poverty decrease. "Owned by
the governments of its 188 member states, the Bank channels loans and grants and advises low and middle–income

The Impacts of the IMF and the World Bank Essay
The Impacts of the IMF and the World Bank
The World Bank and the International Monetary fund make up major parts of the UN's Economic sector. For both institutions the groundwork was laid
in the Bretton Woods conference. The World Bank's initial task was to facilitate reconstruction in the post
– World War II Europe. It generates capital
fund from member state contributions and from international financial markers. Its loans are not designed to replace private capital but to facilitate its
operation by funding projects that private banks would not support, e.g. primary education. The World Bank also attaches conditions of its loans in the
form of policy changes it would like to see states make to...show more content...
They were therefore, almost forcing their loans on to others, particularly on middle–income countries such as those of Latin America. At the same time,
developing countries, faced with prices of oil and other imports, which were rising faster then their export prices, were only too eager to absorb
foreign loans to bridge the gap. This could go on well for some time but then interest rates began to rise, causing serious strain on the annual payments
stream. The Debt crisis came about, and it was centralized mainly in Latin America. Their budgets were out of control and hyperinflation set in. The
crisis was triggered by the default of Mexico: it ran out of foreign currency in August 1982, and other countries followed. Immediate help was offered
by the IMF, but in the loner term the problem was solved by "rescheduling". This usually meant a reduction in the interest rates payable and a
lengthening of the repayment period, so that the annual burden was lightened: it also commonly involved new lending to get through a critical
transition period. In 1982, over twenty countries were renegotiating and by the end of 1983 seventeen Latin America countries had adjustment
agreements with the IMF. Thus, the IMF had helped avoid a major crisis with the coming of the coming of the Debt dilemma.
The World Bank had its positive

Pros And Cons Of World Bank
Andi Nadya Amanda
AE1A Fall 2016
World Bank
World Bank is a private institution which provide development assistance as the world's largest source of fund for its client countries. The main focus
is helping the poorest countries and its client countries to develop by investing in human resources, particularly through basic education and health,
infrastructure, environment protection and also maintain global financial stability. Despite of its good investment, it was criticized for carry out
environmentally unfriendly projects and other error on the target of the fund. These two concepts are at the vital over the pros and cons of World Bank
and many arguments from both positive and negative sides are still debated (Bretton Woods Project,2005). This essay will discuss the positive and
negative impacts from the World Bank's aid, as information provided before pull up the conclusion that World Bank does either harm or good.
One good point of World Bank is it supports economic growth in developing countries. World Bank has helped many developing countries on their
economic growth. It supports economic growth by providing fund in the form of loan to build infrastructure that could boost the economic activities.
An example from Tanzania, home for 51.8 million people whom 73% of people still live in the rural area where there is no electricity yet. In this
mission,...show more content...
Despite of many positive projects that had been funded by World Bank, many of them were failures. The bank's 1987 annual review of the project
performance, published by the Operations Evaluation Department (OED) stated that 75% percent of World Bank African Agriculture projects were
fail. Another failed project was in Indonesia where the government borrowed USD600 million to reduce the density population of Java Island. Among
all those failed projects, the debt is still ongoing which could make a big loss for the country

The Pros And Cons Of The World Bank
World bank what is it? The World Bank is an international financial institution that provides loans[2] to countries of the world for capital programs. It
comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA).
The World Bank is a component of the World Bank Group.
World Bank. (2017, June 24). Retrieved June 24, 2017, from https://en.wikipedia.org/wiki/World_Bank
What we know about him why it's good and why it's bad? I was read issue brief through the Levin Institute that describes the development, purpose, and
criticisms of the International Financial Institutions (International Monetary Fund and World Bank): https://my.uopeople.edu/pluginfile.php/179925
/mod_book/chapter/117314/glob101imfandwb.pdf What's show me a lot if things good and bad. Some times when I was start read I was in shock how
many things the World Bank help to do for different countries.
"Examples of the programs the World Bank funds include:
п‚· In Bangladesh, the World Bank provided a $59.8 million credit to provide medical services and nutritional supplements to children and their
mothers.
п‚· In Bosnia, the World Bank helps offer "microcredit" loans, typically less than $1,000, to individuals who wish to start small businesses and
otherwise would not have access to bank credit.
I think that's more then enough what's can show how many good things they do. But is it the only one what they do? Or

World Bank and Poverty Essay
Executive Summary
This research paper is focused on the role World Bank in Poverty Reduction, as the primary role of the World Bank is to enable development and
progress in the backward countries and regions of this world. This paper explains the brief history of the World Bank, and World Bank's five
institutions. It also investigates how the World Bank is continually trying to reduce poverty by lending billions of dollars to poor countries .This paper
gives some of the facts of the under–developed countries and the strategies which World Bank has incorporated to reduce the poverty in those countries.
Introduction
The World Bank was incepted with the mission of achieving a world without poverty and to provide bare minimum living...show more content...
Healthcare initiatives and rebuilding nations affected by natural disasters are some of the primary areas of focus for the bank.
The Role of the World Bank in Poverty Reduction
The world is place which has both the rich and the poor masses. There are around 2.6 billion people in this world which make less than $1 a day.
The repercussions of this extremity cause around 33000 children to die every day from hunger and diseases which could have been easily avoided
otherwise. Statistics have shown that on an average at least one woman dies every minute during child birth. Poverty causes around 100 million
children to not seek education. This involves a majority of girl children who are forced to drop out from schools since their families can't afford to
send them to school and provide education. Poverty causes a lot of derivatives or side effects in the life of the poor people. Due to lack of inadequate
financing these people are left without proper health care, education, jobs and cause them to be vulnerable to corruption, violence and mental pressure
leading to high number of suicide rates. The poor governance and waste of public resources due to inadequate management further worsens the
situation. Figure1 below depicts the distribution of the percentage of people living under $1 per day. It's quite evident that the

The Pros And Cons Of The World Bank
Angry protesting, political upset, governments falling, privatization failing, and money lost are a few outcomes that influence the public opinion on the
World Bank, and its involvement in many underdeveloped countries. While the World Bank claims that reducing poverty across the globe is its
foremost priority, many opponents believe that it is responsible for increasing poverty. The World Bank is a multifaceted organization that loans money
to government around the world for development.
One major complaint about the World Bank is that it causes high debt in developing countries. Even though the loans are meant to help these countries,
they end up causing the countries to take on debt that they must pay interest on and remain under the conditions of the institution. Another is that as
part of their lending requirements; the World Bank has imposed rigorous conditions on recipient countries. These requirements are known as structural
adjustment programs. These programs force countries to adopt their conditions, such as deregulation of capital markets, reformation of national
companies to private corporations, and downscaling of social welfare programs. Privatization of water supplies and public pensions, and imposing
fees for public hospitals and publics schools are among the debated bank reforms. In his book, 50 Years Is Enough, Kevin Danaher describes the
World Bank's policies as "austerity plans that 'reform' economic policies by suffocating the poor and inviting

The Creation Of The World Bank
The creation of The World Bank was an attempt to remedy the wealth disparities facing African nations, and open new markets for international trade.
Africa's economic stagnation calls for a shift in paradigm, leaning towards sustained economic growth. It is only through the sustained growth of these
economies that the World Bank can claim success. This essay will assess the meaning of failed development, effects of trade liberalization and the
impact that multi–national corporations have had on African countries. Imposing neo–liberalism on African nations has led to a lack of sustainable
development due to its ability to proliferate complex interdependency and exploitation. Failure in development is a lack of sustained periods of
economic growth and stability, and an increased dependence on foreign aid. For example, forty five per cent of people in Sub–Saharan Africa still
continue to live in poverty (About Sub–Saharan Africa). Secondly, the inability to meet eight of the Millennium Development Goals constitutes a
failure in promoting development within the last fifteen years (The Millennium Development Goals 2014). Furthermore, World Bank prescriptions
have not promoted sustained growth independent of foreign involvement by "[raising] Southern output" (Mosley 1949). The World Bank's "measured
ability to trigger sustained growth in developing countries has been poor [...] particularly [...] in the poorest countries" (1951). This disparity in flow of
investments to developing

The World Bank
The World Bank
Bureaucracy is one of the pillars of modern western society. Although this statement is debatable from many aspects, most would agree that, at the
very least, our lives are greatly affected by bureaucracy. Bureaucracy is the 'pure form of rational organization' (Newson, Jan 11). Not only is it a
method for achieving goals efficiently and effectively, but it is acclaimed as the most able strategy to meet objectives. TheWorld Bank is a classic
example of a bureaucratic organization. It embodies all the characteristics necessary to qualify; from its complicated hierarchy and impersonal relations,
to the specialization and career orientation of its employees. However, not everyone agrees on the competency of the bureaucratic...show more content...
Many seeking a future in development, first attempt to enter the World Bank. Most of the Bank's new recruits are Young Professionals (YP). This is an
extremely competitive program which thousands apply to, of which only 35 a year get in.
Although Young Professionals come from a variety of countries, this does not necessarily reflect various cultural perspectives. Most of the YP are
educated in the North, and a large proportion come from the Ivy League or similar academic institutions (Faith 113). For those who do manage to join
the staff, the training does not end there. Once accepted, they must complete one year on probation; usually two six month field projects in which they
must make
"significant contributions" (Faith 115). Members of the staff are thus the true cream of the crop.
The obvious question that one must ask, is how can it be that these top notch men and women can participate in such an ineffective organization. The
answer lies in the culture of the World Bank. From the very recruitment of its staff the Bank ensures conformity and unswerving loyalty. "It tries to
pick its people young, and shapes them to what it believes to be its needs" (Faith 112). George and Sabelli describe YP very highly, but point to their
most lacking characteristic –– apart from humility –– no bent for heresy or dissidence. In other words YP, and all new recruits, do not question

The World Bank
Governance is becoming more and more essential in values of major international institutions. In order to receive the World Bank credit, poor
countries need to comply several conditions set by World Bank which are in most cases aim to promote good governance but also liberalise countries
economy to open market. As the essay question suggests not all people support this neo–capitalist approach as it may result in tension, exploiting of
one by the other, and impact negatively on both society and environment of the developing country. As a result of successful lobbying from civil society
institutions, World Bank and other major international institutions created monitoring and complaint processing panels to monitor its activities (Park,
2010). However the scope of influence of these panels can be limited and can have insufficient results. Though decision making in World Bank is
getting more horizontal than it used to be, still economically and politically powerful countries are ultimately making key decisions without enough
involvement of poorer countries. This paper will aim to analyse the reasons behind criticisms towards World Bank, nature of its funded projects, and
effectiveness of the World Bank inspection panel.
World Bank's influence is expanding due to the enormity of the challenges it is facing. Challenges of the modern world in most cases cannot be
handled by single state or institution (W.Scharpf, 1994). Issues of climate change or poverty will not be limited by

Role of IMF, World Bank, and Development Banks

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