WHAT IS THE WORLD BANk?

Question

WHAT IS THE WORLD BANk?

Answer 1

World Bank (often referred to by employees and others as simply "the Bank") is an internationally supported bank that provides financial and technical assistance[1] to developing countries for development programs (e.g. bridges, roads, schools, etc.) with the stated goal of reducing poverty. The World Bank differs from the World Bank Group in that the former comprises only the International Bank for Reconstruction and Development and the International Development Association, while the latter incorporates these entities in addition to three others.[2] The World Bank was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. The concept was originally conceived in July 1944 at the United Nations Monetary and Financial Conference. Two years later, the Bank issued its first loan: $250 million to France for post-war reconstruction, the main focus of the Bank's work in the early post-World War II years. Over time, the "development" side of the Bank's work has assumed a larger share of its lending, although it is still involved in post-conflict reconstruction, together with reconstruction after natural disasters, response to humanitarian emergencies and post-conflict rehabilitation needs affecting developing and transition economies. There are some criticisms of the results of the World Bank's "development schemes" leading to corruption and widespread exploitation of the corporations who are given monopolies of developing nation's resources.

Answer 2

I learned about this yesterday.  The World Bank was created shortly after the United Nations.  The World Bank regulates the currency of the world market.  It has the final authority in how much money a government can print and how much credit a government can have outstanding.  Once it deems that a country is in far too much debt it stops the Central banks and the local banks to loan money.  It also orders the collection of loans that are outsatanding when it feels that the country is headed into recession.  This is what is happening in the U.S.  The World Bank has destroyed the economies of Africa, Brazil, many South American countries, Mexico, Japan, China and others.  America is next and soon the entire world will be under the control of this privately owned entity.

Answer 3

Both Wikipedia and the World Bank's own web site offer a good explanation of what the World Bank is.

For an alternative, anti-World Bank view, see

http://www.whirledbank.org/