Tell me about world bank.Anythink you know about history?

Question

I,m working on my paper about world bank.Could you tell me about world bank.Anythink you know about history of world bank

Answer 1

Well I think you can google the history of World Bank, but how it works is more interesting. What’s so different between WB to let’s say Citibank (or you can choose your own bank)? The customers basically support the bankers. They pay the interest to support the bank to run. Some people might need credit card and utilize it carefully, they assess their ability and needs before applying to get a credit card. Some other people might not be this way, moreover it is pretty easy to get credit cards and often leads these people into trouble. You can check how many Americans got problem because of their credit cards. Sure one can easily say that these people are irresponsible, they have overspent their budget. But look also in a different way, how the banks and other goody product advertisement spoil us.

It is also similar to the WB. Some countries might need international aid (well…loan, no matter how low the interest is it is still loan), but how these countries manage this aid would be another issue. If we look further, who decide one country needs certain loan from the Bank? Has the country assessed and found its need? Or is the need “created” by the Bank? If a country is already in debt, why some Banks (not only WB, but there are some others development banks too) then keep showering loan? Is it purely the irresponsibility of the country? Or the WB has played significant roles too? Well…one thing for sure, besides of the fact that WB is a bank without ATM, that it will be kicked out off business when it stops providing loans. What will those fancy bankers do then?

Hey…maybe it would be interesting if you write a paper on the history of the average WB bankers’ salary. Is it rising time to time or stable? And the gaps between their salary to the average GDP in poor countries and rich countries. FYI you might be interested to see the WB boss’s speech on the bank’s 50th anniversary.

Answer 2

The World Bank is a vital source of financial and technical assistance to developing countries around the world.  They are made up of two unique development institutions owned by 185 member countries—the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).

Each institution plays a different but supportive role in the World Bank's mission of global poverty reduction and the improvement of living standards. The IBRD focuses on middle income and creditworthy poor countries, while IDA focuses on the poorest countries in the world. World Bank provides low-interest loans, interest-free credit and grants to developing countries for education, health, infrastructure, communications and many other purposes.

HISTORY

Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions. Their mission evolved from the International Bank for Reconstruction and Development (IBRD) as facilitator of post-war reconstruction and development to the present day mandate of worldwide poverty alleviation in conjunction with our affiliate, the International Development Association.

World Bank had a homogeneous staff of engineers and financial analysts, based solely in Washington, DC. Today, World Bank has a multidisciplinary and diverse staff that includes economists, public policy experts, sector experts and social scientists, and 30% of our staff is now based in country offices.

Reconstruction remains an important focus of their work, given the natural disasters and post conflict rehabilitation needs that affect developing and transition economies. World Bank has, however, broadened their portfolio's focus to include social sector lending projects, poverty alleviation, debt relief and good governance.  World Bank,  has sharpened their focus on poverty reduction as the overarching goal of all our work.

CHALLENGES

It's work focuses on achievement of the Millennium Development Goals that call for the elimination of poverty and sustained development. The goals provide World Bank with targets and yardsticks for measuring results.

Their mission is to help developing countries and their people reach the goals by working with our partners to alleviate poverty. To do that World Bank concentrates on building the climate for investment, jobs and sustainable growth, so that economies will grow, and by investing in and empowering poor people to participate in development.

ORGANIZATION

The World Bank is like a cooperative, where its 185 member countries are shareholders. The shareholders are represented by a Board of Governors, who are the ultimate policy makers at the World Bank. Generally, the governors are member countries' ministers of finance or ministers of development. They meet once a year at the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund.

Because the governors only meet annually, they delegate specific duties to 24 Executive Directors, who work on-site at the Bank. The five largest shareholders, France, Germany, Japan, the United Kingdom and the United States appoint an executive director, while other member countries are represented by 19 executive directors.

The President of World Bank chairs meetings of the Boards of Directors and is responsible for overall management of the Bank. By tradition, the Bank president is a U.S. national and is nominated by the United States, the Bank's largest shareholder. The President is elected by the Board of Governors for a five-year, renewable term.

The Executive Directors make up the Boards of Directors of the World Bank. They normally meet at least twice a week to oversee the Bank's business, including approval of loans and guarantees, new policies, the administrative budget, country assistance strategies and borrowing and financial decisions.

The World Bank operates day-to-day under the leadership and direction of the president, management and senior staff, and the vice presidents in charge of regions, sectors, networks and functions.Vice Presidents are the principal managers at the World Bank

In addition to the International Bank for Reconstruction and Development and the International Development Association, three other institutions are closely associated with the World Bank: the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID). All five of these institutions together make up the World Bank Group.

Answer 3

Conceived during World War II at Bretton Woods, New Hampshire, the World Bank initially helped rebuild Europe after the war. Its first loan of $250 million was to France in 1947 for post-war reconstruction. Reconstruction has remained an important focus of the Bank's work, given the natural disasters, humanitarian emergencies, and post­conflict rehabilitation needs that affect developing and transition economies.

Today's Bank, however, has sharpened its focus on poverty reduction as the overarching goal of all its work. It once had a homogeneous staff of engineers and financial analysts, based solely in Washington, D.C. Today, it has a multidisciplinary and diverse staff including economists, public policy experts, sectoral experts, and social scientists. 40 percent of staff are now based in country offices

Click on the link for much more.

Answer 4

I  don't know much about the world bank as I bank with another. because the world bank don't have any ATMs :)

Answer 5

You say "anything" not "anythink"

Answer 6

It was set up by the Allies after WW2 to help ebuild war damaged nations. It should now be scrapped