World Bank

in Washington (D.C.) (the USA) settled group of World Banks had originally the purpose to finance the reconstruction of the states devastated by the Second World War. It covers the following five organizations, which possess their own juridical personality in each case:

the group of World Banks is connected by administrative entwinements and by a common president (in the case of the ICSID as a chairman of the board of directors).

The term “World Bank” (in the Ggs. to “group of World Banks”)covered only both first of the five aforementioned above organizations.

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common task of core

the common task of core of these institutions is, those economic development of less developed member countries by financial assistance for promoting by consultation and technical aid and to the conversion of the international development targets to contribute in such a way (above all the portion poor in the population of world up to the year 2015 around halfreduce to help). They serve also as catalyst for the support through third. This is done primarily via the assignment from long-term loans to marketnear conditions (IBRD) and/or long-term credits free of interest and (IDA) for investment projects, comprehensive reform programsand technical aid, increasingly also by the promotion of the private-economical development by the participation in companies (IFC) and by the assumption of warranties (MIGA).

1974 has the boards of governors of the World Bank and the IWF when desired that Developing countries a common Minister committee over the transfer of financial resources inserted into developing countries - the development Committee (DC). DC has 24 members, that represent the entire membership of the group of World Banks and the IWF, and meets twice in the year. ItsTask is it to advise the boards of governors of the bank and the IWF over important development questions and over resources necessary for the economic and social development in the developing countries. In the course of the time DC has also questions of the trade and global environmental protection into its consultation included.

The World Bank publishes annually the world development report (World development report), which is dedicated to a spreading and topic important for the current development discussion in each case. It does not only seize the discussion conditions in its detailed analysestogether, but above all and gets going the international debate over development gives also crucial impacts around important steps. Further central of World Bank reports „global the Economic Prospects is”, „global development Finance” and „Doing Business”.

Those Private second gate development (PSD) is a strategy of the World Bank to in front drive the privatisation in developing countries it is valid for all parts of the World Bank, and all other strategies must be co-ordinated with PSD. Also the assignment of credits is onfundamental reforms in the sense of the PSD attached, which private production of infrastructure are are promoted: one argues the fact that the public hand prefers public enterprises and prevents a competition (see. Structural adjustment programs).

criticism

the promotional practice of the World Bankoften by environmental protection organizations and globalization-critical groups one attacks. To often large-scale projects were promoted such as dams or pipelines, the devastating environmental damage and disadvantages for the residents population to the consequence would have and rather companies from the industrialized countries as well as the elite to thatServed developing countries as really the development to promote.

The being correct rights are distributed after portion property, with the IBRD (IFC) e.g. so:

past presidents of the group of World Banks

of term of office name
June - December 1946 Eugene Meyer
March 1947 - June 1949 John Jay McCloy
July 1949 - December 1962 Eugene R. Black
January 1963 - March 1968 George D. Woods
April 1968 - June 1981 Robert S. McNamara
July 1981 - June 1986 Alden W. Clausen
July 1986 - August 1991 Barber B. Conable
September 1991 - May 1995 Lewis T. Preston
June 1995 - May 2005 James D. Wolf son
since June 2005 Paul Wolfowitz

literature

see also

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