1. Overview of the world bank The World Bank was orginally established to support reconstruction in Europe after World War II. On July 1, 2012, Jim Yong Kim became the 12th president of the World Bank Group.
2. WORLD BANK Headquarters: Washington, DC and more than 100 offices around the world. Established: July 1, 1944 by a conference of 44 governments in Bretton Woods, New Hampshire, USA Membership: 185 countries Staff: Approximately 7,000 employees in Washington,DC and over 3,000 in offices around the world.
3. IS ONE OF THE WORLDS LARGEST SOURCES OF FUNDING FOR THE DEVELOPING WORLD SPECIAL FEATURES OF WORLD BANK Its primary focus is on helping the poorest people and the poorest countries. It uses its financial resources, its staff, and extensive experience to help developing countries, reduce poverty, increase economic growth, improve their quality of life.
4. FUNCTIONS Reconstruction Promotion and development. of investment. Promotion of long range balanced growth of international trade. Arranging the loans through other channels for priority.
5. WHO GOVERNS THE WORLD BANK? o Executive Board (16) o Board of Governers o President o Unequal representation - USA: 16.68% - Japan:8% - Germany:4.5% - UK and France:4.38% 6
6. WHO PAYS FOR THE WORLD BANK? (5%) IBRD - paid-in capital subscription(USA: 16.98%) AAA rated bonds & debt securities (25%) IDA concessional loans periodic replenishments USA 20.86%, Japan 18.7%, UK & France 7.3% 7 Tail has been used to shake the dog:
7. THE WORLD BANK AND ON WHAT CONDITIONS? Any member country can propose a loan Staffs carefully prepare the proposal A detailed proposal goes to the Board A simple majority of votes. No 8
8. MILLENNIUM DEVELOPMENT GOALS
9. ACTIVE AREAS The World Bank is active in the following areas: Agriculture and Rural Development Conflict and Development Development Operations and Activities Economic Policy Education Energy Environment Financial Sector Gender Governance Health, Nutrition and Population Industry Information and Communication Technologies Information, Computing and International Economics and Trade Labor and Social Protections Law and Justice Macroeconomic and Economic Growth Mining Poverty Reduction Poverty Private Sector Public Sector Governance Rural Development Social Development Social Protection Trade Transport Urban Development Water Resources Water Supply and Sanitation
10. IBRD The International Bank for Reconstruction & Development (1945) IDA The International Developmen t Association (1960) IFC The International Finance Corporation (1956) M.I.G.A The Multilateral Investment Guarantee Agency (1988) ICSID The International Centre for the Settlement of Investment Disputes (1966)
11. THE WORLD BANK GROUP 1. International Bank for Reconstruction and Development (IBRD) Founded: 1944 Members: 176 aims to reduce poverty in middle-income and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and analytical and advisory services 2. International Development Association (IDA) Founded: 1960 Members: 185 interest free loans and grants 3. International Finance Corporation (IFC) Founded: 1956 Members: 185 Private sector arm of the World Bank 4. Multilateral Investment Guarantee Agency (MIGA) Founded: 1988 Members: 101 Promotes Foreign Direct Investment in developing countries 5. International Centre for Settlement of Investment Disputes (ICSID) Est. 1966, facilitate the settlement of investment disputes between governments and foreign investors www.worldbank.org
12. SIMILARITIES BETWEEN IMF & WB The Bank and the IMF are twin intergovernmental pillars supporting the structure of the world's economic and financial order Both are in a sense owned and directed by the governments of member nations. Both institutions concern themselves with economic issues and concentrate their efforts on broadening and strengthening the economies of their member nations. Staff members of both the Bank and IMF often appear at international conferences, Share a common library and other facilities, regularly exchange economic data, sometimes present joint seminars, daily hold informal meetings, and occasionally send out joint missions to member countries.
13. DISTINCTION BETWEEN IMF & WB World Bank is primarily a development institution IMF is a cooperative institution that seeks to maintain an orderly system of payments and receipts between nations. Receives its funding from different sources Assists different categories of members, and strives to achieve distinct goals through methods peculiar to itself A distinct size & structure
14. DISTINCTION BETWEEN IMF & WB The IMF is small (about 2,300 staff members) and, Most of its staff members work at headquarters in Washington, D.C., although three small offices are maintained in Paris, Geneva, and at the United Nations in New York. Its professional staff members are for the most part economists and financial experts. The World Bank itself comprises two major organizations IBRD & IDA. With over 7,000 staff members, the World Bank Group is about three times as large as the IMF, and maintains about 40 offices throughout the world, although 95 percent of its staff work at its Washington, D.C., headquarters.
15. MILLENNIUM DEVELOPMENT GOALS Targets and Goals set for 2015 1. Reducing Poverty and Hungerglobal poverty is projected to fall to 12 percent 2. Educating All Childrenensure that all children complete primary education. 3. Empowering Womeneliminate gender disparity in primary and secondary education. 4. Saving Childrenreduce the under 5 mortality rate. www.web.worldbank.org Millennium Development Goals
16. MILLENNIUM DEVELOPMENT GOALS 5. Caring for Mothersreduce the maternal mortality rate. 6. Combating Diseasessuch as AIDS/HIV, Tuberculosis, malaria, and other major diseases. 7. Using Resources Wiselyimprovements in slum dwellings, create sustainable access to drinking water, and sustainable access to basic sanitation. 8. Working Togethermake available technological advancements in information and communication. Allow affordable access to essential drugs in developing countries. Address the particular need of developing countries. www.web.worldbank.org Millennium Development Goals
17. PROJECTS IN INDIA
18. NATIONAL AIDS CONTROL SUPPORT PROJECT The government of India and the World Bank signed a $255 million credit agreement to support the National AIDS Control Support Project to help accelerate AIDS prevention programs by targeting vulnerable groups at high risk of infection. So far the World Bank has provided a total of $525 million under the last three projects.
19. INDIA LOW-INCOME HOUSING FINANCE The development objective of the Low Income Housing Finance Project for India is to provide access to sustainable housing finance for low income households Approval Date (as of board presentation)-:May 14, 2013. Closing Date-:December 31, 2018 Total Project Cost-:US$ 100.00 million