World bank

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World bank

  1. 1. Dony zacharias Joshy joseph
  2. 2. Overview .... • It is an international financial institution that provides loan to developing countries for capital programs • The Bank’s initial goal was to assist in the reconstruction of post-war Europe and to reduce poverty • Robert Zoellick has been President of the World Bank since 2007
  3. 3. The World Bank Group 1. International Bank for Reconstruction and Development (IBRD) – Est. 1946, “aims to reduce poverty in middle-income and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and analytical and advisory services” 2. International Development Association (IDA) – Est.1960, interest free loans and grants 3. International Finance Corporation (IFC) – Est.1956, Private sector arm of the World Bank 4. Multilateral Investment Guarantee Agency (MIGA) – Est.1988, Promotes Foreign Direct Investment in developing countries 5. International Centre for Settlement of Investment Disputes (ICSID) – Est. 1966, facilitate the settlement of investment disputes between governments and foreign investors
  4. 4. PURRPOSE OF WORLD BANK • Assist development and reconstruction • To promote long term balanced international trade • To lend for project development • To conduct its operations with due regard to business conditions • Promote private investment
  5. 5. Structure of the World Bank • • • • • Headquartered in Washington D.C. Over 100 offices all over the world 185 member countries Membership of the IMF is required 5 Largest shareholders: France, Germany, Japan, UK, and US
  6. 6. Board of Directors • 24 members of the Board (5 from the largest shareholders, 19 to cover the remaining geography) • President of the World Bank serves as the Chairman of the Board • General operations • Meet twice a week • According to the Charter, the member with the greatest # of shares, chooses the president. • The president is, traditionally, a U.S. citizen and is the chairman of the Board.
  7. 7. Future plans : Millennium Development Goals Targets and Goals set for 2015 • Reducing Poverty and Hunger—global poverty is projected to fall to 12 percent • Educating All Children—ensure that all children complete primary education. • Empowering Women—eliminate gender disparity in primary and secondary education. • Saving Children—reduce the under 5 mortality rate.
  8. 8. • Caring for Mothers—reduce the maternal mortality rate. • Combating Diseases—such as AIDS/HIV, Tuberculosis, malaria, and other major diseases. • Using Resources Wisely—improvements in slum dwellings, create sustainable access to drinking water, and sustainable access to basic sanitation. • Working Together—make available technological advancements in information and communication. Allow affordable access to essential drugs in developing countries. Address the particular need of developing countries.
  9. 9. Guiding principles • The World Bank Group focus on governance and anticorruption (GAC) follows from its mandate to reduce poverty—a capable and accountable state creates opportunities for poor people, provides better services, and improves development outcomes. • The country has primary responsibility for improving governance— country ownership and leadership are key to successful implementation, and the World Bank Group is committed to supporting a country’s own priorities. A country’s government remains the principal counterpart for the World Bank Group. • The World Bank Group is committed to remaining engaged in the fight against poverty, and seeking creative ways of providing support, even in poorly-governed countries—“don’t make the poor pay twice”.
  10. 10. • The form of World Bank Group engagement on GAC will vary from country to country, depending on specific circumstances—while there is no ‘one-size-fits-all’, the WBG will adopt a consistent approach towards operational decisions across countries, systematically anchored in national strategies, supported by World Bank Group Country Assistance Strategies, with no change in the performance-based allocation system for IDA countries or IBRD resource allocation system. • Engaging systematically with a broad range of government, business, and civil society stakeholders is key to GAC reform and development outcomes—so, consistent with its mandate, the World Bank Group will scale up existing good practice in engaging with multiple stakeholders in its operational work, including by strengthening transparency, participation, and third-party monitoring in its own operations. • The World Bank Group will strive to strengthen, rather than bypass, country systems—better national institutions are the more effective and long term solution to governance and corruption challenges and to mitigating fiduciary risk for all public money, including that from the Bank.
  11. 11. • The World Bank Group will work with donors, international institutions, and other actors at the country and global levels to ensure a harmonized approach and coordination based on respective mandates and comparative advantage—“the World Bank Group should not act in isolation.”
  12. 12. Thank you !

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