The World Bank was formed in 1944 at the Bretton Woods Conference to provide financing for postwar reconstruction and development. It began providing loans to devastated European and Asian countries in 1947 and has since grown to include 188 member countries. The World Bank aims to reduce poverty and support development by providing low-interest loans, interest-free credit, and grants to developing countries for education, health, infrastructure, and other projects. India has been the largest borrower from the World Bank and International Development Association since their inceptions.
IFC
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries.The IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States. It was established on July 20, 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profit and commercial projects that purport to reduce poverty and promote development.The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private sector entities, and creating jobs and delivering necessary services to those who are poverty-stricken or otherwise vulnerable. Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve health and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
The IFC is owned and governed by its member countries (184), but has its own executive leadership and staff that conduct its normal business operations. It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.Originally more financially integrated with the World Bank Group, the IFC was established separately and eventually became authorized to operate as a financially autonomous entity and make independent investment decisions.It offers an array of debt and equity financing services and helps companies face their risk exposures, while refraining from participating in a management capacity. The corporation also offers advice to companies on making decisions, evaluating their impact on the environment and society, and being responsible.It advises governments on building infrastructure and partnerships to further support private sector development. The IFC is governed by its Board of Governors which meets annually and consists of one governor per member country.Each member typically appoints one governor and also one alternate.[ International Finance Corporation (2010). IFC Annual Report 2010: Where Innovation Meets Impact (Report). World Bank Group. Retrieved 2012-06-09.] Although corporate authority rests with the Board of Governors, the governors delegate most of their corporate powers and their authority over daily matters such as lending and business operations to the Board of Directors.The IFC's Board of Directors consists of 25 executive directors who meet regularly and work at the IFC's headquarters, and is chaired by the President of the World Bank Group.
Balance of Payment Disequilibrium and CausesNeema Gladys
1.Balance of Payment
The balance of payment of a country is a systematic accounting record of all economic transactions during a given period of time between the residents of the country and residents of foreign countries.
2.Componets of BOP
Current Account
It includes imports and exports of goods and services and unilateral transfer of goods and services.
Capital Account
Under this are grouped transactions leading to changes in foreign assets and liabilities of the country.
3. Accounting Treatment of Items (Debit and Credit Items)
Any item which gives rise to a sale of foreign exchange (an inflow) is recorded as a credit item (+) in the accounts e.g. export of goods and services
Any item which gives rise to the purchase of foreign exchange (an outflow) is recorded as a debit item (-) in the accounts e.g imports of goods and services.
4. BOP Disequilibrium
BOP is a double entry accounting record, then apart from errors and omissions, it must always balance.
The BOP deficit or surplus indicate imbalance in the BOP.
This imbalance is interpreted as BOP Disequilibrium.
A country’s balance of payments is said to be in disequilibrium when its autonomous receipts (credits) are not equal to its autonomous payments (debits).
5.BOP Deficit
A deficit or an unfavorable balance exists when the value of autonomous debit items exceeds the value of autonomous credit items.
6. BOP Surplus
A surplus or a favourable balance exists when the value of autonomous credit items exceeds the value of autonomous debit items.
IFC
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries.The IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States. It was established on July 20, 1956 as the private sector arm of the World Bank Group to advance economic development by investing in strictly for-profit and commercial projects that purport to reduce poverty and promote development.The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private sector entities, and creating jobs and delivering necessary services to those who are poverty-stricken or otherwise vulnerable. Since 2009, the IFC has focused on a set of development goals that its projects are expected to target. Its goals are to increase sustainable agriculture opportunities, improve health and education, increase access to financing for microfinance and business clients, advance infrastructure, help small businesses grow revenues, and invest in climate health.
The IFC is owned and governed by its member countries (184), but has its own executive leadership and staff that conduct its normal business operations. It is a corporation whose shareholders are member governments that provide paid-in capital and which have the right to vote on its matters.Originally more financially integrated with the World Bank Group, the IFC was established separately and eventually became authorized to operate as a financially autonomous entity and make independent investment decisions.It offers an array of debt and equity financing services and helps companies face their risk exposures, while refraining from participating in a management capacity. The corporation also offers advice to companies on making decisions, evaluating their impact on the environment and society, and being responsible.It advises governments on building infrastructure and partnerships to further support private sector development. The IFC is governed by its Board of Governors which meets annually and consists of one governor per member country.Each member typically appoints one governor and also one alternate.[ International Finance Corporation (2010). IFC Annual Report 2010: Where Innovation Meets Impact (Report). World Bank Group. Retrieved 2012-06-09.] Although corporate authority rests with the Board of Governors, the governors delegate most of their corporate powers and their authority over daily matters such as lending and business operations to the Board of Directors.The IFC's Board of Directors consists of 25 executive directors who meet regularly and work at the IFC's headquarters, and is chaired by the President of the World Bank Group.
Balance of Payment Disequilibrium and CausesNeema Gladys
1.Balance of Payment
The balance of payment of a country is a systematic accounting record of all economic transactions during a given period of time between the residents of the country and residents of foreign countries.
2.Componets of BOP
Current Account
It includes imports and exports of goods and services and unilateral transfer of goods and services.
Capital Account
Under this are grouped transactions leading to changes in foreign assets and liabilities of the country.
3. Accounting Treatment of Items (Debit and Credit Items)
Any item which gives rise to a sale of foreign exchange (an inflow) is recorded as a credit item (+) in the accounts e.g. export of goods and services
Any item which gives rise to the purchase of foreign exchange (an outflow) is recorded as a debit item (-) in the accounts e.g imports of goods and services.
4. BOP Disequilibrium
BOP is a double entry accounting record, then apart from errors and omissions, it must always balance.
The BOP deficit or surplus indicate imbalance in the BOP.
This imbalance is interpreted as BOP Disequilibrium.
A country’s balance of payments is said to be in disequilibrium when its autonomous receipts (credits) are not equal to its autonomous payments (debits).
5.BOP Deficit
A deficit or an unfavorable balance exists when the value of autonomous debit items exceeds the value of autonomous credit items.
6. BOP Surplus
A surplus or a favourable balance exists when the value of autonomous credit items exceeds the value of autonomous debit items.
Group 7
AGUILA, Don George Kinsee M.
DIMACULANGAN, Shella H.
DINGLASAN, Rydg Chrejt V.
MANTUANO, Dannah Francesca B.
OLAN, Elona Mathel B.
PAALA, Kaycee Ericka B.
PROMENTILA, Julie Anne E.
A2D - Macecon
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
2. Fact file
Formation: July 1944; 70 years ago
Type: International Financial
Organization
Headquarters: Washington D.C., United
States
Membership: 188 countries (IBRD)
172 countries (IDA)
Official language: Arabic, Chinese, English,
French, Russian, Spanish
President: Jim Yong Kim
Parent organization: World Bank Group
3. What is World Bank?
• An international
organization dedicated to
providing financing,
advice and research to
developing nations to aid
their economic
advancement.
4. Why it came into existence?
The World Bank was created at
the end of World War II as a
result of many European and
Asian countries needing
financing to fund reconstruction
efforts.
The Bank is successful in
providing financing for these
devastated (destroyed) countries.
5. The International Bank for Reconstruction and Development was the
first “Multilateral Development Bank.”Before World War II had
ended.
Harry Dexter White and John Maynard Keynes conceptualised an
international institution to stabilize exchange rates and provide a
source of financing for reconstruction and development among
countries ravaged by the war.
6. What is Bretton Woods Conference:
• The Bretton Woods Conference was held from the 1st to 22nd of
July, 1944 .
• Contained 730 delegates from all 44 Allied nations in Bretton
Woods
• To regulate the international monetary and financial order after the
conclusion of World War II.
• Created two major institutions:
– World bank : (long term loan for distressed economy and
member countries )
– IMF : (grants the short term loans to develop the cyclical
disturbance in economy.)
7. PROGRESS
The new bank received most of its funds from the New
York investment community
The bank made its first, general reconstruction loans to France
($250 million – largest ever) , the Netherlands, Denmark, and
Luxembourg in 1947.
The bank’s first bond offering abroad, worth £5 million, came in
London in 1951
China used IDA loans for agriculture and education projects while
oil wells were financed with IBRD loans.
It helped resolve the Indus water dispute between India
and Pakistan.
8. Key Dates
• The “World Bank Group” first came into being in the 1960s
• 1946: World Bank founded along with sister institution, the
International Monetary Fund.
• 1956:International Finance Corporation(IFC) created to support
private ventures and industrial loans.
• 1960:International Development Association(IDA) created to
give “soft loans” to very poor countries.
• 1966: International Center for the Settlement of International Disputes
(ICSID)
• 1988: The new Multilateral Investment Guarantee Agency (MIGA)
insures against political risks and to encourage private inestments.
10. OBJECTIVES
1. To provide long-run capital to member countries for economic reconstruction
and development.
2. To induce long-run capital investment for assuring Balance of Payments
(BoP) equilibrium and balanced development of international trade.
3. To provide guarantee for loans granted to small and large units and other
projects of member countries.
4. To ensure the implementation of development projects so as to bring about a
smooth transference from a war-time to peace economy.
5. To promote capital investment in member countries by the following ways;
(a) To provide guarantee on private loans or capital investment.
(b) If private capital is not available even after providing guarantee, then
IBRD provides loans for productive activities on considerate conditions.
11. FUNCTIONS
Granting reconstruction loans to war devastated countries.
Granting developmental loans to underdeveloped countries.
Providing loans to governments for agriculture, irrigation, power,
transport, water supply, educations, health, etc
Providing loans to private concerns for specified projects.
Promoting foreign investment by guaranteeing loans provided by
other organisations.
Providing technical, economic and monetary advice to member
countries for specific project.
Encouraging industrial development of underdeveloped countries
by promoting economic reforms
12. World bank's top borrowers:
1. Mexico
2. Brazil
3. Turkey
4. Pakistan
5. China
6. India
7. Argentina
13. World Bank's Top contributor's:
1. USA 16.39%
2. Japan 7.87%
3. Germany 4.49%
4. UK 4.30%
5. France 4.30%
14. India and World Bank
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.
The Bank lending to India started in 1949, when the first loan
of $34 million was approved for the Indian Railways.
The aggregate of the Bank's lending in India in the last 45
years was approximately $42 billion.
India is the single largest borrower of WB and IDA.
15. The World Bank Group’s Partnership Strategy for India
(2013-2017) will help India lay the foundations for
achieving “faster, sustainable, and more inclusive
growth” as outlined in the government’s 12th five year
plan.
The World Bank Group will support India with an
integrated package of financing, advisory services, and
knowledge. During the World Bank financial year (July
2013-June 2014), funding for India was $5.2 billion
($2.0 billion in International Bank for Reconstruction
and Development (IBRD), $3.1 billion in International
Development Association and $0.1 billion in CTF or
Clean Technology Fund) across 16 projects.
16. CRITISISM
• Promoting Washington consensus and allow only
big corporations to flourish
• Ignore the environmental and social impct of
projects
• Resentment and social turmoil in India
• Cause high debt amongst the countries
• Working with private sector will lead to decrease
in the role of the state as primary provider.
• Decisions are made and policies implemented by
leading industrialised countries