World Bank: Difference between revisions
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The World Bank [http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,pagePK:50004410~piPK:36602~theSitePK:29708,00.html ] was set up in 1944 at the [[Bretton Woods Conference]]. Its purpose is to reduce global poverty and improve living standards by providing | {{subpages}} | ||
'''The World Bank''' [http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,pagePK:50004410~piPK:36602~theSitePK:29708,00.html ] was set up in 1944 at the [[Bretton Woods Conference]]. Its purpose is to reduce global poverty and improve living standards by providing low-interest loans, interest-free credit and grants to developing countries. It raises most of its funds by issuing [[bond]]s on the world's financial markets - and the remainder from members' contributions. | |||
The Bank’s five branches are: | The Bank’s five branches are: | ||
*The International Bank for Reconstruction and Development | * The International Bank for Reconstruction and Development | ||
:(provides loans to middle-income countries); | :(provides loans to middle-income countries); | ||
*The International Development Association | * The International Development Association | ||
:(gives interest-free loans to the poorest countries) | :(gives interest-free loans to the poorest countries) | ||
*The International Finance Corporation | * The International Finance Corporation | ||
:(finances private-sector projects and provides technical support); | :(finances private-sector projects and provides technical support); | ||
*The Multilateral Investment Guarantee Agency | * The Multilateral Investment Guarantee Agency | ||
:(guarantees foreign investors against non-commercial risks); and | :(guarantees foreign investors against non-commercial risks); and | ||
*The International Center for the Settlement of Investment Disputes | * The International Center for the Settlement of Investment Disputes | ||
:(seeks to settle disputes between foreign investors and host countries). | :(seeks to settle disputes between foreign investors and host countries). | ||
Revision as of 14:48, 4 February 2008
The World Bank [1] was set up in 1944 at the Bretton Woods Conference. Its purpose is to reduce global poverty and improve living standards by providing low-interest loans, interest-free credit and grants to developing countries. It raises most of its funds by issuing bonds on the world's financial markets - and the remainder from members' contributions.
The Bank’s five branches are:
- The International Bank for Reconstruction and Development
- (provides loans to middle-income countries);
- The International Development Association
- (gives interest-free loans to the poorest countries)
- The International Finance Corporation
- (finances private-sector projects and provides technical support);
- The Multilateral Investment Guarantee Agency
- (guarantees foreign investors against non-commercial risks); and
- The International Center for the Settlement of Investment Disputes
- (seeks to settle disputes between foreign investors and host countries).