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Working for a World Free of Poverty THE WORLD BANK

THE WORLD BANK

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Page 1: THE WORLD BANK

Working for a World Free of Poverty

THE WORLD BANK

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INTRODUCTION•The world bank is an international financial institution that provides loans to developing countries for capital programs.•The world bank main goal is to make world free of poverty.•The world bank is a leading institution that funds essential infrastructural requirement globally. •The world bank differs from the world bank group , in that the world bank comprises only two institutions : The International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).•World Bank group incorporates in addition to three more: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for settlement of Investment Disputes (ICSID)

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HISTORY OF WORLD BANK

In response to post-war (WW-II) Reconstruction and to discuss the future of international economic cooperation.

In July of 1944, representatives from 44 countries met at Britton Woods, New, Hampshire and creation of two institution.• 1.International Monetary Fund (IMF)

2.International Bank for Reconstruction and Development;

(IBRD) or “WorldIBRD approved its first loan in the amount of USD250 million to France for reconstruction purposes. This was one of the largest loans in real terms made by the World

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Organization•Its 188 member countries are shareholders.•These member countries, or shareholders, are represented by Board of Governors, who are the ultimate policymakers at the World Bank.•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 IMF.•World Bank Group President Jim Yong Kim chairs meetings of the Boards of Directors and is responsible for overall management of the Bank.

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MembersTotal member countries in each institutionInternational Bank for Reconstruction and Development (IBRD):188.

International Development Association (IDA) :173

International Finance Corporation (IFC):184

Multilateral Investment Guarantee Agency (MIGA):180

International Centre for Settlement of Investment Disputes (ICSID):150

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FUNCTIONS OF WORLD BANK•Granting reconstruction loans to war devastated countries.•Provides funds for development projects.•Providing loans to governments for agriculture, irrigation, power, transport, water supply, educations, health, etc•Providing loans to private concerns for specified projects.•Promoting foreign investment by guaranteeing loans provided by other organizations.•Providing technical, economic and monetary advice to member countries for specific projects•Encouraging industrial development of underdeveloped countries by promoting eco nomic reforms.

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5 Purposes of world bankAssists development and reconstruction.

To promote long term balanced international trade

To lend for project development

To conduct its operations with due regards to business

conditions

Promote private investment

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World Bank Goals

The World Bank Group has set two goals for the world to achieve by 2030:

End extreme poverty by decreasing the percentage of people living on less than $1.25 a day to no more than 3%

Promote shared prosperity by fostering the income growth of the bottom 40% for every country

For Achieve Goals10,000 employees in more than 120 offices works as worldwide.

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Area of OperationAgriculture and Rural Development Conflict and Development Development Operations and Activities Economic Policy Education Energy Environment Financial Sector Gender GovernanceHealth, Nutrition and PopulationIndustry Information and Communication TechnologiesInformation, Computing and Telecommunications International Economics and Trade

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Continues….Labor and Social ProtectionsLaw and Justice Macroeconomic and Economic Growth Mining Poverty Reduction Private Sector Public Sector Governance Rural Development Social Development Social Protection Trade Transport Urban Development Water Resources Water Supply and Sanitation

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India and The World BankThe World Bank Group’s Partnership Strategy for India (2013-2017)will help India lay the foundations for achieving “faster, sustainable, and more inclusive growth” as outlined in the government’s 12th five year plan.During the World Bank financial year (July 2013-June 2014), funding for India was $5.2 billion across 16 projects.The World Bank Group will be ready to provide financial support worth $15-18 billion over the next three years.”In July 11,2014World Bank Sign $153 Million Agreement for Odisha Disaster Recovery Project.Tamil Nadu and Pondicherry Coastal Disaster Risk Reduction Project.

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Conclusion Proposal for a comprehensive development framework

might be too. Absolute number of poor people is raising as a result of

rapid population growth. Make them awareness. Resistance by government . Increase Education ,Per capita income with

Employment. More look after to trade and growth of small term

business. Important role in promoting prosperity and economic

stability worldwide.

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THANK YOU

Presented By-Debabrata Mohanty