The World Bank was created in 1944 at a conference called the Bretton Woods Conference, also known as the United Nations Monetary and Financial Conference, and it is located in Washington DC along with the International Monetary Fund. These two entities work closely with each other. Two men by the names of Lord Keynes and Harry Dexter are the founding fathers of both of The World Bank and The International Monetary Fund. World Bank (Europe)
The world bank has great impact in improvement the countries and struggle against poverty. In development countries the world bank improved the Infrastructure construction, educations, and support the governments, in order to handle the peace on their countries. World bank provides the load for the developments countries in order to reduction the poverty. Bank started to provides loan in Europe especially in France,Poland and Chile. The loan was not small and not big amount, it was more than 250 million. Poland, Chile, and France were among the first countries to apply for a loan. The first country to receive a World Bank loan was France. This was on the condition that the French government first removes all of their members that were associated with the Communist party, and give first priority of debt repayment to the World Bank over other governments. France did so and the World Bank gave them a loan of $250 million US dollars. Joshi. Devin. (2013).
In the beginning of 1980 the bank started to enriched its skills and focus in the developing countries. The aim of the administration of the bank is to help the normal or the simple people that they are in the needs. When the aim was determined for the simple or the ordinary people the money and the number and the amount increased up in shortly time and expended from Infrastructure construction into the social services and the other aspects. The change came with Robert McNamara, he improved the bank technological and ideological.
The World Bank also tries to control many communicable diseases like, malaria by shipping vaccines to several parts of the world. In the year 2000 The World Bank announced a War on Aids and in the year 2011 they joined with the Stop Tuberculosis Partnership, all in order to promote global public goods. The world bank of today has some very important goals. These goals include; stronger and more inclusive growth in Africa and other states, more efforts in educational and health, movement on trade negotiations, more and better aid, and more focus on support from multilateral institution that are like the World Bank. Grossman. (Richard. 2013).
They are attempting to eradicate extreme hunger and poverty around the world. They want to achieve universal primary education, and promote gender equality. They want to do what they can to reduce child mortality, and approve maternal health. They hope to ensure environmental sustainability, and develop a global partnership for development of their (MDG) Millennium Development Goals which are stated above. Environmental, social and legal safeguards were defined to make sure the World Bank financed operations do not compromise these goals, instead to add to their realizations. These safeguards have not been completely implemented yet, but, their plan was welcomed by several civil society organizations at the World Bank’s annual meeting in Tokyo. (Weaver. Catherine. 2007).
My colleague Malika went through the entire research that I made on World Bank was satisfied with the information gathered. She added saying World Bank has great impact in Yemen too and manager has taken the decisions on improving the middle east as all and I agree with what she said because all people are talking about the achievements of world bank in idle east more than any other countries.
Joshi. Devin. (2013).International Economic. p249-275. 27p...
References: Joshi. Devin. (2013).International Economic. p249-275. 27p
Weaver. Catherine. (2007).Banking Industries. 13 Issue 4, p493-512. 20p.
Grossman. Richard. (2013). Economic Aspects. 1, p132-155. 24p.
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