Assignment on

International Business Management

Submitted to;

Mohammaad Emdadul Haque

Lecturer of Uttara University

Submitted by;

Suman Kumer Ghosh - M 21311121063

MBA (For BBA) 30th Batch

Table of Contents

Acknowledgement.

World Bank.

ISO (International Organization for Standardization).

WTO (World Trade Organization).

ILO (The International Labor Organization )

IMF (The International Monetary Fund)

IEC (International Electro technical Commission's ) 

IDA (The International Development Association )

Conclusion.

References.

Acknowledgement

First of all, I am expressing my sincere gratefulness to

Almighty for enabling me to prepare this Paper on

International Business.

The success of this Paper depends on the contribution of number of

people specially those who have shared their thoughtful guidance and

suggestions to complete this Paper. I am indebted to a number of persons

for their kind recommendation, information, direction, cooperation, and

their collaboration.

World Bank:The World Bank is an International financial institution that provides technical and

financial assistance to developing countries for development programs (E.g.

Bridges, Roads, and Schools) with the stated goal of reducing poverty. The World

Bank is an international financial institution that provides loans to developing

countries for capital programmers. The World Bank has a goal of

reducing poverty. By law, all of its decisions must be guided by a commitment to

promote foreign investment, international trade and facilitate capital investment.

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)

The International Development Association (IDA)

Whereas the latter incorporates these two in addition to three more: 

International Finance Corporation (IFC)

Multilateral Investment Guarantee Agency (MIGA)

 International Centre for Settlement of Investment Disputes (ICSID).

World Bank- History:

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 post conflict 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,

sectorial experts, and social scientists. 40 percent of staff is now based in country

offices.

The Bank itself is bigger, broader, and far more complex. It has become a Group,

encompassing five closely associated development institutions: the International

Bank for Reconstruction and Development (IBRD), the International Development

Association (IDA), The International Finance Corporation (IFC), the Multilateral

Investment Guarantee Agency (MIGA), and the International Centre for Settlement

of Investment Disputes (ICSID).

1989–present;

Beginning in 1989, in response to harsh criticism from many groups, the bank

began including environmental groups and NGOs in its loans to mitigate the past

effects of its development policies that had prompted the criticism.[7]:93–97 It also

formed an implementing agency, in accordance with the Montreal Protocols, to

stop ozone-depletion damage to the Earth's atmosphere by phasing out the use of

95% of ozone-depleting chemicals, with a target date of 2015. Since then, in

accordance with its so-called "Six Strategic Themes," the bank has put various

additional policies into effect to preserve the environment while promoting

development. For example, in 1991, the bank announced that to protect against

deforestation, especially in the Amazon, it would not finance any commercial

logging or infrastructure projects that harm the environment.

Member Countries;

The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial or membership issues.

Member countries govern the World Bank Group through the Boards of Governors and the Boards of Executive. These bodies make all major decisions for the organizations.

To become a member of the Bank, under the IBRD Articles of Agreement, a country must first join the International (IMF). Membership in IDA, IFC and MIGA are conditional on membership in IBRD.

In tandem with the IMF, and in consultation with other World Bank Group staff, the Corporate Secretariat vice Presidency coordinates the process for new membership and maintains the information relating to the status of membership which includes the membership lists.

International Bank for Reconstruction and Development188countries

Country / Date of MembershipAfghanistan, Jul 14, 1995Albania, Oct 15, 1991Algeria, Sep 26, 1963Angola, Sep 19, 1989Antigua and Barbuda, Sep 22, 1983Argentina, Sep 20, 1956Armenia, Sep 16, 1992Australia, Aug 5, 1947Austria, Aug 27, 1948Azerbaijan, Sep 18, 1992Bahamas, The Aug 21, 1973Bahrain, Sep 15, 1972Bangladesh, Aug 17, 1972

Country / Date of MembershipLiberia, Mar 28, 1962Libya, Sep 17, 1958Lithuania, Jul 6, 1992Luxembourg, Dec 27, 1945Macedonia, FYR of, Feb 25, 1993Madagascar, Sep 25, 1963Malawi, Jul 19, 1965Malaysia, Mar 7, 1958Maldives, Jan 13, 1978Mali, Sep 27, 1963Malta, Sep 26, 1983Marshall Islands, May 21, 1992Mauritania, Sep 10, 1963

Barbados, Sep 12, 1974Belarus, Jul 10, 1992Belgium, Dec 27, 1945Belize, Mar 19, 1982Benin, Jul 10, 1963Bhutan, Sep 28, 1981Bolivia, Dec 27, 1945Bosnia and Herzegovina, Feb 25, 1993Botswana, Jul 24, 1968Brazil, Jan 14, 1946Brunei Darussalam, Oct 10, 1995Bulgaria, Sep 25, 1990Burkina Faso, May 2, 1963Burundi, Sep 28, 1963Cambodia, Jul 22, 1970Cameroon, Jul 10, 1963Canada, Dec 27, 1945Cape Verde, Nov 20, 1978Central African Republic, Jul 10, 1963Chad, Jul 10, 1963Chile, Dec 31, 1945China, Dec 27, 1945Colombia, Dec 24, 1946Comoros, Oct 28, 1976Congo, Democratic Republic of, Sep 28, 1963Congo, Republic of, Jul 10, 1963Costa Rica, Jan 8, 1946Cote d'Ivoire, Mar 11, 1963Croatia, Feb 25, 1993Cyprus, Dec 21, 1961Czech Republic, Jan 1, 1993Denmark, Mar 30, 1946Djibouti, Oct 1, 1980Dominica, Sep 29, 1980

Mauritius, Sep 23, 1968Mexico, Dec 31, 1945Micronesia, Federated States of, Jun 24, 1993Moldova, Aug 12, 1992Mongolia, Feb 14, 1991Montenegro, Jan 18, 2007Morocco, Apr 25, 1958Mozambique, Sep 24, 1984Myanmar, Jan 3, 1952Namibia, Sep 25, 1990Nepal, Sep 6, 1961Netherlands, Dec 27, 1945New Zealand, Aug 31, 1961Nicaragua, Mar 14, 1946Niger, Apr 24, 1963Nigeria, Mar 30, 1961Norway, Dec 27, 1945Oman, Dec 23, 1971Pakistan, Jul 11, 1950Palau, Dec 16, 1997Panama, Mar 14, 1946Papua New Guinea, Oct 9, 1975Paraguay, Dec 28, 1945Peru, Dec 31, 1945Philippines, Dec 27, 1945Poland, Jun 27, 1986Portugal, Mar 29, 1961Qatar, Sep 25, 1972Romania, Dec 15, 1972Russian Federation, Jun 16, 1992Rwanda, Sep 30, 1963Samoa, Jun 28, 1974San Marino, Sep 21, 2000Sao Tome and Principe, Sep 30, 1977

Dominican Republic, Sep 18, 1961Ecuador, Dec 28, 1945Egypt, Arab Republic of, Dec 27, 1945El Salvador, Mar 14, 1946Equatorial Guinea, Jul 1, 1970Eritrea, Jul 6, 1994Estonia, Jun 23, 1992Ethiopia, Dec 27, 1945Fiji, May 28, 1971Finland, Jan 14, 1948France, Dec 27, 1945Gabon, Sep 10, 1963Gambia, The, Oct 18, 1967Georgia, Aug 7, 1992Germany, Aug 14, 1952Ghana, Sep 20, 1957Greece, Dec 27, 1945Grenada, Aug 27, 1975Guatemala, Dec 28, 1945Guinea, Sep 28, 1963Guinea-Bissau, Mar 24, 1977Guyana, Sep 26, 1966Haiti, Sep 8, 1953Honduras, Dec 27, 1945Hungary, Jul 7, 1982Iceland, Dec 27, 1945India, Dec 27, 1945Indonesia, Apr 13, 1967Iran, Islamic Republic of, Dec 29, 1945Iraq, Dec 27, 1945Ireland, Aug 8, 1957Israel, Jul 12, 1954Italy, Mar 27, 1947Jamaica, Feb 21, 1963Japan, Aug 13, 1952

Saudi Arabia, Aug 26, 1957Senegal, Aug 31, 1962Serbia, Feb 25, 1993Seychelles, Sep 29, 1980Sierra Leone, Sep 10, 1962Singapore, Aug 3, 1966Slovak Republic, Jan 1, 1993Slovenia, Feb 25, 1993Solomon Islands, Sep 22, 1978Somalia, Aug 31, 1962South Africa, Dec 27, 1945South Sudan, Apr 18, 2012Spain, Sep 15, 1958Sri Lanka, Aug 29, 1950St. Kitts and Nevis, Aug 15, 1984St. Lucia, Jun 27, 1980St. Vincent and the Grenadines, Aug 31, 1982Sudan, Sep 5, 1957Suriname, Jun 27, 1978Swaziland, Sep 22, 1969Sweden, Aug 31, 1951Switzerland, May 29, 1992Syrian Arab Republic, Apr 10, 1947Tajikistan, Jun 4, 1993Tanzania, Sep 10, 1962Thailand, May 3, 1949Timor-Leste, Jul 23, 2002Togo, Aug 1, 1962Tonga, Sep 13, 1985Trinidad and Tobago, Sep 16, 1963Tunisia, Apr 14, 1958Turkey, Mar 11, 1947Turkmenistan, Sep 22, 1992Tuvalu, Jun 24, 2010

Jordan, Aug 29, 1952Kazakhstan, Jul 23, 1992Kenya, Feb 3, 1964Kiribati, Sep 29, 1986Korea, Republic of, Aug 26, 1955Kosovo, Jun 29, 2009Kuwait, Sep 13, 1962Kyrgyz Republic, Sep 18, 1992Lao People's Democratic Republic, Jul 5, 1961Latvia, Aug 11, 1992Lebanon, Apr 14, 1947Lesotho, Jul 25, 1968

Uganda, Sep 27, 1963Ukraine, Sep 3, 1992United Arab Emirates, Sep 22, 1972United Kingdom, Dec 27, 1945United States, Dec 27, 1945Uruguay, Mar 11, 1946Uzbekistan, Sep 21, 1992Vanuatu, Sep 28, 1981Venezuela, Republican Bolivarian de, Dec 30, 1946Vietnam, Sep 21, 1956Yemen, Republic of, Oct 3, 1969Zambia, Sep 23, 1965Zimbabwe, Sep 29, 1980

Objectives of World Bank;

The World Bank was established to promote long-term foreign investment loans on reasonable terms. The, purposes of the Bank, as set forth in the 'Articles of Agreement’ are as follows:

(i) To assist in the reconstruction and development of territories of members by facilitating the investment of capital for productive purpose including;

(a) The restoration of economies destroyed or disrupted by war;

(b) The reconversion of productive facilities to peaceful needs; and

(c) The encouragement of the development of productive facilities and resources in fewer developing countries;

(ii) To promote private investment by means of guarantee or participation in loans and other investments made by private investors.

(iii) When private capital is not available on reasonable terms, to supplement private investment by providing on suitable conditions finance for productive purpose out of its own capital funds raised by it and its other resources.

(iv) To promote the long-range balanced growth of international trade and the maintenance of equilibrium in balances of payments by encouraging international investment for the development of the productive resources of members, thereby assisting in raising productivity, the standard of living, and conditions of labor in their territories.

(v) To arrange the loans made or guaranteed by it in relation to international loans through other channels so that the more useful and urgent projects, large and small alike, will be dealt with first.

ISO;ISO (International Organization for Standardization) is the world’s largest developer of voluntary International Standards. International Standards give state of the art specifications for products, services and good practice, helping to make industry more efficient and effective. Developed through global consensus, they help to break down barriers to international trade.

The ISO history;ISO (International Organization for Standardization) is the world’s largest developer of voluntary International Standards. We were founded in 1947, and since then have published more than 19 500 International Standards covering almost all aspects of technology and business. Today we have members from 164 countries and about 150 people work full time for our Central Secretariat in Geneva, Switzerland.

In London, in 1946, 65 delegates from 25 countries meet to discuss the future of International Standardization. In 1947, ISO officially comes into existence with 67 technical committees (groups of experts focusing on a specific subject)

ISO Today;

At the start of 2012, ISO has 163 members and has a total of over 19 000 standards. Today, ISO International Standards cover almost all aspects of technology and business.

Industry-wide standardization is a condition existing within a particular industrial sector when the large majority of products or services conform to the same standards. It results from consensus agreements reached between all economic players in that

Objectives or Activities of ISO;

Industrial sector - suppliers, users, and often governments. They agree on specifications and criteria to be applied consistently in the choice and classification of materials, the manufacture of products, and the provision of services. The aim is to facilitate trade, exchange and technology transfer through:

Enhanced product quality and reliability at a reasonable price. Improved health, safety and environmental protection, and reduction of

waste. Greater compatibility and interoperability of goods and services, Simplification for improved usability. Reduction in the number of models, and thus reduction in costs. Increased distribution efficiency, and ease of maintenance.

INVOLVEMENT WITH BANLADESH:

The Bangladesh Standards and Testing Institution (BSTI) were established by the Government through an Ordinance passed in July 1985. BSTI is headed by a Director General (Additional Secretary to the Government).

The primary activities of the Bangladesh Standards and Testing Institution (BSTI) are: standardization of services and products (S); introduction of the international unit system of weights and measures and promotion of metrology services (M); promotion of quality assurance activities; rendering testing facilities for services and products; preparation, promotion and adoption of national standards. The Institution is also empowered with some regulatory measures in these fields. The Institutional budget is fully supported by its own income, i.e. It is functioning as a self-financing organization.

World Trade Organization (WTO):

The WTO is a place where the member governments go, to try to sort out the trade problems they face with each other. The WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTO’s current work comes from the 1986–94 negotiations called the Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The WTO began life on 1 January 1995, but its trading system is half a century older. Since 1948, the General Agreement on Tariffs and Trade (GATT) had provided the rules for the system.

Location:

It is situated in Geneva, Switzerland. It consists of 153 member countries. The WTO is currently the host to new negotiations, under the “Doha Development Agenda” launched in 2001.

Organization:

The WTO is run by its member governments. All major decisions are made by the membership as a whole, either by ministers (who meet at least once every two years) or by their ambassadors or delegates (who meet regularly in Geneva). Decisions are normally taken by consensus. In this respect, the WTO is different from the other international organizations such as the World Bank and International Monetary Fund. In the WTO, power is not delegated to a board of directors or the organization’s head.

So, the WTO belongs to its members. The countries make their decisions through various councils and committees, whose membership consists of all WTO members. Topmost is the ministerial conference which has to meet at least once every two years.

Day-to-day work in between the ministerial conferences is handled by three bodies:

The General Council The Dispute Settlement Body The Trade Policy Review Body

All three are in fact the same — the Agreement Establishing the WTO states they are all the General Council, although they meet under different terms of reference.

Again, all three consist of all WTO members. They report to the Ministerial Conference.

Three more councils, each handling a different broad area of trade, report to the General Council:

The Council for Trade in Goods (Goods Council) The Council for Trade in Services (Services Council) The Council for Trade-Related Aspects of Intellectual Property Rights

(TRIPS Council)

Each of the higher level councils has subsidiary bodies. The Goods Council has 11 committees dealing with specific subjects (such as agriculture, market access, subsidies, anti-dumping measures and so on).

Purposes:

It deals with the rules of trade between nations at a global or near-global level. It’s an organization for liberalizing trade. It’s a forum for governments to negotiate trade agreements. It’s a place for them to settle trade disputes. It operates a system of trade rules.

Functions:

The following are the main functions of WTO:

Administering WTO trade agreements Forum for trade negotiations Handling trade disputes Monitoring national trade policies Technical assistance and training for developing countries Cooperation with other international organizations

Role of WTO in the economic development of Bangladesh:

WTO works for administering trade agreements for its member countries as well as for the developing countries. It ensures duty free and quota free market for developing countries and Bangladesh is one of the most beneficiaries of that. In fact Bangladesh receives the biggest benefit among the developing countries. The multilateral trading systems, GATT and WTO, have attained significant successes, which give overwhelming confidence to the countries promoting the ideals of free market and free trade. According to them, free trade can generate enormous economic growth and productivity. WTO has facilitated to talk about US duty-free access and free movement of natural persons to facilitate human resource exports to developed countries. Besides Bangladesh got the co-operation assurance from one of its neighboring countries, India in the WTO Geneva summit which increased the country’s opportunity to get co-operation from other developed countries. In the Geneva summit WTO also focused on the issue of increased capacity building in LDCs along with greater market access. At present, Bangladesh has a duty free access in the US market for 97% of its products which is again the result of WTO negotiations. Bangladesh is now enjoying a lot of facilities because of WTO. WTO has in fact developed itself as a developing-friendly organization. In the recent years WTO has taken some package and formula which can benefit Bangladesh to a large extent.The three donor agencies mentioned above are all equally important for the economic development of Bangladesh. WB gives financial aid and takes different projects for the economic development of the country. IMF gives financial aid and at the same time helps to take different policies which helps the economic growth of the country. Finally, WTO helps to ensure duty free access to the world market which is the most necessary thing for the economic development. If Bangladesh can utilize these opportunities given by these donor agencies Bangladesh will be able to make its economy a developed one in near future. All Bangladesh should do is to make arrangements ready to ensure the proper use of the financial aids, suggestions and projects. Then it will be possible to achieve economic development in real scene. In fine, we can say that, these three agencies have great significance in the economic development of Bangladesh.

The International Labor Organization (ILO);

The International Labor Organization is the UN specialized agency which seeks the promotion of social justice and internationally recognized human and labor rights. 

The ILO formulates international labor standards in the form of Conventions and Recommendations setting minimum standards of basic labor rights: freedom of association, the right to organize, collective bargaining, abolition of forced labor, equality of opportunity and treatment, and other standards regulating conditions across the entire spectrum of work related issues. It promotes the development of independent employers' and workers' organizations and provides training and advisory services to those organizations. Within the UN system, the ILO has a unique tripartite structure with workers and employers participating as equal partners with governments in the work of its governing organs.

The history of ILO ;

The ILO was created in 1919, as part of the Treaty of Versailles that ended World

War I, to reflect the belief that universal and lasting peace can be accomplished

only if it is based on social justice.

The Constitution was drafted between January and April, 1919, by the Labor

Commission set up by the Peace Conference, which first met in Paris and then in

Versailles. The Commission, chaired by Samuel Gompers, head of the American

Federation of Labor (AFL) in the United States, was composed of representatives

from nine countries: Belgium, Cuba, Czechoslovakia, France, Italy, Japan, Poland,

the United Kingdom and the United States. It resulted in a tripartite organization,

the only one of its kind bringing together representatives of governments,

employers and workers in its executive bodies.

The Constitution contained ideas tested within the International Association for

Labor Legislation, founded in Basel in 1901. Advocacy for an international

organization dealing with labor issues began in the nineteenth century, led by two

industrialists, Robert Owen (1771-1853) of Wales and Daniel Ligand (1783-1859)

of France.

The driving forces for ILO's creation arose from security, humanitarian, political

and economic considerations. Summarizing them, the ILO Constitution's Preamble

says the High Contracting Parties were 'moved by sentiments of justice and

humanity as well as by the desire to secure the permanent peace of the world.

Activities of ILO ;

• vocational training and vocational rehabilitation.

• Employment policy.

• Labor administration.

• Labor law and industrial relations.

• working conditions.

• Management development.

• Cooperatives.

• Social security.

• Labor statistics and occupational safety and health.

The   International Monetary Fund   (IMF);

The International Monetary Fund (IMF) is an international organization that was initiated in 1944 at the Bretton and formally created in 1945 by 29 member countries. The IMF's stated goal was to assist in the reconstruction of the world's international payment system post–World War II. Countries contribute money to a pool through a quota system from which countries with payment imbalances can borrow funds temporarily. Through this activity and others such as surveillance of its members' economies and the demand for self-correcting policies, the IMF works to improve the economies of its member countries.

History and Background;

The International Monetary Fund was originally laid out as a part of the Bretton

Woods system exchange agreement in 1944. During the earlier Great Depression,

countries sharply raised barriers to foreign trade in an attempt to improve their

failing economies. This led to the devaluation of national currencies and a decline

in world trade.

This breakdown in international monetary co-operation created a need for

oversight. The representatives of 45 governments met at the Bretton Woods

Conference in the Mount Washington Hotel in the area of Bretton Woods, New

Hampshire in the United States, to discuss framework for post-World War

II international economic co-operation. The participating countries were concerned

with the rebuilding of Europe and the global economic system after the war.

There were two views on the role the IMF should assume as a global economic

institution. British economist John Maynard Keynes imagined that the IMF would

be a cooperative fund upon which member states could draw to maintain economic

activity and employment through periodic crises. This view suggested an IMF that

helped governments and to act as the US government had during the New Deal in

response to World War II. American delegate Harry Dexter White foresaw an IMF

that functioned more like a bank, making sure that borrowing states could repay

their debts on time. Most of White's plan was incorporated into the final acts

adopted at Bretton Woods.

The International Monetary Fund formally came into existence on 27 December 1945, when the first 29 countries ratified its Articles of Agreement. By the end of 1946 the Fund had grown to 39 members. On 1 March 1947, the IMF began its financial operations,[28] and on 8 May France became the first country to borrow from it.

The IMF was one of the key organizations of the international economic system; its design allowed the system to balance the rebuilding of international capitalism with the maximization of national economic sovereignty and human welfare, also known as embedded liberalism. The IMF's influence in the global economy steadily increased as it accumulated more members. The increase reflected in particular the attainment of political independence by many African countries and more recently the 1991 dissolution of the Soviet Union because most countries in the Soviet sphere of influence did not join the IMF.

The Bretton Woods system prevailed until 1971, when the US government suspended the convertibility of the US$ (and dollar reserves held by other governments) into gold. This is known as the Nixon. As of January 2012, the largest borrowers from the fund in order are Greece, Portugal, Ireland, Romania and Ukraine.

Member Countries;

The 188 members of the IMF include 187 members of the UN and the Republic of Kosovo. All members of the IMF are also International (IBRD) members and vice versa.

Former members are Cuba (which left in 1964)[and the Republic of China, which was ejected from the UN in 1980 after losing the support of then US President Jimmy Carter and was replaced by China. However, "Taiwan Province of China" is still listed in the official IMF indices.

Apart from Cuba, the other UN states that do not belong to the IMF are Andorra, Liechtenstein, Monaco, Nauru and North Korea.

The former Czechoslovakia was expelled in 1954 for "failing to provide required data" and was readmitted in 1990, after the Velvet Revolution. Poland withdrew in 1950—allegedly pressured by the Soviet Union—but returned in 1986.

The objectives of the international monetary funds are;

1. The main objective of the fund is to promote monetary cooperation among the different countries of the world.

2. The funds aim at providing and establishing multilateral payments and trade system in place of bilateral agreements.

3. It will try to remove all restrictions and controls on foreign exchange imposed by the It will.

4. It will lend or sell to its member - countries’ currencies of other countries. This facilitates foreign exchange transactions among the members.

5. The fund aims at providing short - term monetary help to member countries during emergency.

6. The fund is also to provide monetary help to member country in order to shorten the duration and lessen the degree of disequilibrium in their international balance of payment.

7. Another objective of the fund is to help the member countries invest their long - term funds in profitable activities.

8. The fund is also to facilitate the expansion and balanced growth of international trade and to contribute thereby to promotion and maintenance of high levels of employment and real income of member countries.

IEC;

IEC 61850 is a standard for the design of electrical substation automation. IEC 61850 is a part of the International Electro technical Commission's (IEC) Technical Committee 57 (TC57)[1] reference architecture for electric power systems. The abstract data models defined in IEC 61850 can be mapped to a number of protocols. Current mappings in the standard are to MMS (Manufacturing Message Specification), GOOSE, SMV (Sampled Measured Values),[clarification needed] and soon to Web Services. These protocols can run over TCP/IP networks or substation LANs using high speed switched Ethernet to obtain the necessary response times below four milliseconds for protective relaying.

IEC History;

The IEC came into being on 26-27 June 1906 in London, UK, and ever since has been giving the very best global standards to the world's electro technical industries. The IEC thanks industry, government, academia, end-users, and everyone else who has been involved from around the world for more than a century of commitment and partnership.

IEC OBJECTIVES;

1) To promote individual services and all other interventions of the project by creating demand and acceptance among target groups

2) To bring about desirable behavioral changes in the household maternal, child care and feeding practices

3) To mobilize community participation and support for project activities

4) To empower the communities to plan and implement sustainable interventions to reduce malnutrition among adolescent girls, women and children and improve health and nutrition status of the community.

IEC member countries ;

Europe: Austria, Belarus, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, United Kingdom, Yugoslavia Asia: China, India, Indonesia, Iran, Israel, Japan, Korea, Malaysia, Pakistan, Philippines, Saudi Arabia, Singapore, Thailand, Turkey

Americas: Argentina, Canada, Mexico, the United States, Brazil (2000/12/1 rejoin).

Africa: Egypt, South Africa

Australia: Australia, New Zealand

A total of nine informal members (five in Europe, the Americas 1, 3 in Africa):

Europe: Bosnia and Herzegovina, Estonia, Iceland, Latvia, Lithuania

Americas: Colombia

Africa: Cyprus, Malta, Tunisia

Members belonging to four (Americas 3, Africa 1)

Americas: Costa Rica (February 2000), Cuba (January 1998), Uruguay (September 1996)

Africa: Eritrea province

The International Development Association (IDA);

The International Development Association (IDA) is the part of the World Bank that helps the world’s poorest countries. Established in 1960, IDA aims to reduce poverty by providing loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.

IDA complements the World Bank’s original lending arm—the International Bank for Reconstruction and Development (IBRD). IBRD was established to function as a self-sustaining business and provides loans and advice to middle-income and credit-worthy poor countries. IBRD and IDA share the same staff and headquarters and evaluate projects with the same rigorous standards.

IDA History;

The International Bank for Reconstruction and Development (IBRD), better known as the World Bank, was established in 1944 to help Europe recover from the devastation of World War II. The success of that enterprise led the Bank, within a few years, to turn its attention to the developing countries. By the 1950s, it became clear that the poorest developing countries needed softer terms than those that could be offered by the Bank, so they could afford to borrow the capital they needed to grow.

In the early 1950’s, reports from the United Nations and the U.S. government supported the establishment of a program to lend to poor countries on concessional terms with the backing of multilateral donors. After initial deliberations, the idea to create the International Development Association (IDA), an agency to provide ‘soft-loans’ to developing countries, was floated within the Bank under the stewardship of President Eugene Black.

Member Countries;

IDA is one of the largest sources of assistance for the world’s 82 poorest countries, 40 of which are in Africa. It is the single largest source of donor funds for basic social services in these countries. IDA-financed operations deliver positive change for 2.5 billion people, the majority of whom survive on less than $2 a day.

IDA lends money on concessional terms. This means that IDA charges little or no interest and repayments are stretched over 25 to 40 years, including a 5- to 10-year grace period. IDA also provides grants to countries at risk of debt distress.

The main objectives of the IDA are as follows:

(i) To provide development finance to the less developed countries on easy and flexible terms.(ii) To promote economic development, increase productivity, and thus, raise the standard of living in the less developed countries.(iii) To supplement the objectives and activities of the World Bank.

Financing Policy;

The IDA loans are different from the convention loans. The following are the distinctive features of the financing policy of the IDA:

(i) The IDA grants loans for projects whether they are directly productive or not.

(ii) The IDA loans are interest free; only a nominal annual rate of 3.4% on the amounts withdrawn and outstanding is charged to meet the administrative expenses.

(iii) The IDA loans are for long periods, i.e., for 50 years.

(iv) There is a 10 years of grace and no amount is repayable during this period of

grace.

Bangladesh Projects & Programs;

The International Development Association (IDA) has supported Bangladesh since

1972, just after the country’s independence. Since then, IDA has provided more

than $15 billion in support for policy reforms and projects, accounting for more

than one-quarter of all foreign aid to Bangladesh. Key elements of that support

have been the Bank’s long-term commitment to health and education, its support

for rural infrastructure, and its engagement in policy dialogues that have created

conditions for broad-based economic growth.

Conclusion:

All of subject equally important for the economic development of Bangladesh. WB

gives financial aid and takes different projects for the economic development of

the country. IMF gives financial aid and at the same time helps to take different

policies which helps the economic growth of the country. Finally, WTO helps to

ensure duty free access to the world market which is the most necessary thing for

the economic development. If Bangladesh can utilize these opportunities given by

these donor agencies Bangladesh will be able to make its economy a developed

one in near future. All Bangladesh should do is to make arrangements ready to

ensure the proper use of the financial aids, suggestions and projects. Then it will be

possible to achieve economic development in real scene. In fine, we can say that,

these three agencies have great significance in the economic development of

Bangladesh.

REFERENCES;

www.worldbank.org

www.globalexchange.org

www.highbeam.com

www.wikipedia.org

www.economywatch.org