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- Established: December 27, 1945World Bank: About The World Bank
- Part of the Bretton Woods Agreement
- Headquarters: Washington D.C.
- Offices in more than 100 countries
- President: Robert ZoellickWorld Bank: Office of the President
- Stated goal is reducing poverty
- First loan: $250 million to France for reconstruction after World War II
- Training wings: World Bank Institute and Global Development Learning Network
- 185 member countries
- Over 10,000 employees
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The World Bank grants loans to fund international development projects. Established on December 27, 1945, initial investments were devoted to rebuilding nations after conflict, specifically war-torn Europe after World War II. While the organization still helps fund post-conflict reconstruction, its focus has shifted to projects that foster economic growth and business development
On April 2, 2009, the leaders at the G20 London summit agreed to provide an additional $1 trillion in funds for the World Bank and IMF. Falling short of committing to a global stimulus package, the funds are proposed to help offset the global economic downturn.Fox News: G-20 Leaders to Give $1 Trillion ... (April 2, 2009)
World Bank PresidentsWorld Bank: [http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/EXTARCHIVES/0,,contentMDK:20510826~pagePK:36726~piPK:437378~theSitePK:29506,00.html World Bank Group Presidents]
Shrinking Economy
In March 2009 the World Bank indicated that the world economy was shrinking for the first time since World War II. They also indicated that the economy is in the worst condition since the Great Depression, with developing countries facing a potential shortfall of $700 billion.CNNMoney: Economy worst since Great Depression (March 9, 2009)Investments
The Bank's investments are guided by five key principles which include capacity building, infrastructure creation and improvement, development of financial systems and institutions, combating corruption and providing consultancy and training.World Bank: About The World BankCriticism
The World Bank has received considerable criticism, most of which argues that the institution was not, in reality, established to combat poverty but instead to promote United States and similar industrialized countries business interests.Bretton Woods Project: ...Criticsm about the World Bank and IMF Many have argued that World Bank programs have actually contributed to poverty and environmental degradation in many areas.Guardian UK: WorldBank Accused of Razing Congo forests (October 4, 2007)-
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World Bank Questions
Why will the strategy of building reserves stabilize the banks and build confidence? 1 Answerit prevents are run on the bank and the market from not lending to them read more
What function does an investment bank play in the financial services sector? 1 Answerwow, way too many functions to list here check out linkedin.com, you will find various answers read more
What happens when a bank is seized by the FDIC? 1 AnswerFriday afternoon FDIC field team takes control of the bank. Because of the boom in business, they just opened up a field office in southern California (Irvine)... read more
Do all banks sell fixed asset, government securities? 1 AnswerAll banks can trade government securities in the secondary market just like any investor can buy a stock in the secondary market (but can't necessarily particip... read more
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Working on: Digital Bangladesh, ICT for climate change @ World Bank, just back from AECF in Seoul, workshop on funding ICT, ICT kiosk @ CPH
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RT @vakanala: #Madagascar 's rainfall has decreased 10% in the last 50 years, and its temperature has risen 10%. -- The World Bank #Climat
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RT @vakanala: #Madagascar 's rainfall has decreased 10% in the last 50 years, and its temperature has risen 10%. -- The World Bank #Climat
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World Bank Wants Zambia To Increase Power Tariffs - Report, http://www.myfeedme.com/article/4900088.html
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