World Bank And Its Role In The International Arena

1112 words - 5 pages

Overview:

The World Bank is an international institution that has the duty to provide poorer countries with finance to reduce poverty. The headquarters are located in Washington, D.C. furthermore, the World Bank is consisting of two institutions and each one has its different strategies and goals to achieve. These institutions are: International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA).

Moreover, the World Bank has a very vital source for financial and technical assistance to countries where people are suffering from poverty by helping these countries through its financial ability as well as experience. Its major concentrations are, ...view middle of the document...

THE FORMAL AND INFORMAL STRUCTURE OF THE ORGANIZATION:

The World Bank is tied to the United Nations and it was established in 1945. It is a multi-lateral financial institution that is owned by a number of countries and governed by elected individuals that each country choose to have. Furthermore, member countries exercise their judgments and views through the Board of Governors, which is consisting of 185 members; each is from a different country. Moreover, the Bank is a huge organization that employs over 10,000 people in headquarter in Washington D.C. and the regional Units worldwide. There are 4 overseen institutions that tied to the World Bank to function in different ways; the first branch is; The International Bank for Reconstruction and Development (IBRD); the role of the IBRD is to borrow funds and lend it on to qualifying member governments for agreed projects. The second branch is the International Development Agency (IDA); its role is similar to the IBRD role however, and the IDA is more like an aid agency that mainly focuses on Africa and South Asia. The third component is the International Finance Corporation (IFC); and its main purpose is to lend funds to private sectors without governmental guarantee and it also has equity shares within the private sector enterprises. And the fourth and final component is the Multinational Investment Guarantee Agency (MIGA); this organization protects foreign investors in the developing countries from expropriation as well as repatriation.

THE RELATIONSHIP TO THE NATION-STATE:

The world bank as a financial body which provides loans to poorest countries in order to make them stand on their feet, requires many things in return of the loans they give out to those countries. For instance, if the bank funds a country that is in need, that means this country has to pay them back within an agreed period of time in addition to the high interest that reaches high levels that the Bank would request before providing loans. Moreover, it has been argued that the World Bank is funding countries that are not only undemocratic but also corrupted. For example, the amount of...

Other Papers Like World Bank and Its Role in the International Arena

The Muslim World and Its Problem in 21st Century

2008 words - 9 pages The Muslim World and its Problems in the 21st Century The Prospects of Muslim Renaissance Problems of the Muslim world in 21st century and Prospects of Muslim renaissance In the twenty first century the Muslim world is passing through a very challenging and crucial situation. We will face countless problems in the near future and

Accounting And Its Role In Society

2244 words - 9 pages Accounting and its role in society Accounting is concerned with collecting, analysing and communicating economic information (Atrill & McLaney, 2004, p1). However in order to develop a broader understanding of accounting and the central role it plays in society, we need to consider it from a social perspective. Individuals in society coexist by establishing relationships with each other. Another way of viewing society is by segmenting it

Responsibility And Its Role In Education

819 words - 4 pages Responsibility and its Role in Education NAME CLASS DATE INSTRUCTOR Responsibility and its Role in Education “Personal responsibility.” people have heard it a thousand times before. A dreaded image instantly comes to mind. Follow the rules and meet obligations. Freedom, lost! These are some of the negative thoughts conjured up in the mass mind when discussing personal responsibility. Even though society should be generally responsible

Bhutan's Role In The Modern World

615 words - 3 pages Bhutan’s Role in the Modern World The Kingdom of Bhutan may be a small and remote country, but it does play a considerable role in the modern world due to its hydroelectricity, national happiness, and their preservation of their land and culture. According to CIA World Factbook, Bhutan ranks 6th in the world from generating electricity with hydroelectric plants. Karma Tshewang, chief engineer of Bhutan’s Department of Hydropower said, “As a

Social Work and Its Code of Ethics in the West and the Arab World

2182 words - 9 pages of social work in the Arab world, Ragab (1995, cited in Al-Krenawi, and Graham, 2003) maps out the historical progress of social work as a profession in the Arab world as a product of both French and British colonialism. According to Al-Krenawi and Graham (2003), Egypt played a significant and influential role in the development and expansion of the social work profession in the Middle East and Arab world. In 1935, Egypt became the receiver of

Creativity and Its Role in Entrepreneurship, Innovation and Economic Development

1705 words - 7 pages innovation is usually the creation of new products that may be the solution to real world problems. Next, process innovation would be defined as introducing a new methods or new materials to add value to the existing products. Economic Development Economic development, as defined by the World Bank, is the qualitative change and restructuring in a country’s economy in connection with technological and social progress . GNP per capita of GDP per

The Role of Culture in International Joint Venture

863 words - 4 pages Objectives of the Study The main aim and objective of this study/report is to critically evaluate and understand the use and importance of public relations management in the modern era, with special consideration on the role social media plays in crisis management. Objectives In order to achieve the aim the following objectives must be met: * To understand the meaning of Public Relations. * To trace the history and development of

The Benefits and Disadvantages of the Imf and the World Bank

1215 words - 5 pages benefits of the institutions to the member states and the disadvantages of their policies and operations before concluding the discussion. The International Monetary Fund (IMF) and the World were formed shortly before the end of the World War II in 1944 at the Bretton Woods conference. The IMF was formed to promote international economic cooperation and provide its members with short term loans to enable trade with other counties. This role has

What Is the Impact of Demographic Trends and Latin American Migration? Specifically in the U.S. International Political Role?

1648 words - 7 pages migration. The history shows that public policies of immigration control are unlikely to be successful. But most important here is the awareness of illegal immigrants cannot be ever treated like criminals and the United States has to measure in its immigration policy. Over the past 50 years Latin America has made a transition from a region of immigration to one of emigration particularly to the United States. The called new world was not an

Contrast Liberal And Mercantilist Theories Of International Political Economy And Consider Which Approach Is Most Apparent In The Contemporary World

1452 words - 6 pages within the international political economy (Hobsbawm, 1987, p. 54). It was a great paradox that liberal theory would regain some of its prominence in international political economy after 1945 just as the free market within most of the world was either tempered by welfare states or communist takeovers. The United States promoted freer trade both out of self-interest and the desire to prevent the great failings within the international political

The Continuing Role Of The Outside World In Afghanistan

3223 words - 13 pages The Continuing Role of the Outside World in Afghanistan Afghanistan has been considered a land of violence and discontent for much of its history. The government always seems to be in disorder, and its people never seem completely happy. Because of this image of being unfit to control its own affairs, the international community has long been involved in the history of Afghanistan. The world intervenes in Afghan conflicts and works to

Related Essays

The Struggle Of Facts And Value In The Politcal Arena And Its Impact On The Political System

572 words - 3 pages reflects, that human life has small value, and other examples can be taken from past and contemporary dictatorships all around the world. The miss calculation or the error in mixing, of the value of the individual and the fact of the humanity is mainly the catalyst of harsh political decisions or wars. Therefore I think that facts and values can not be separated in the study of political systems or in the practices of politics. The facts should

Indian Foreign Policy: Its Basic Framework And Its Role In A Changing World Scenario

4750 words - 19 pages Essay: Indian Foreign Policy: Its Basic Framework and Its Role in a Changing World Scenario Introduction: Every country must have a foreign policy for a fuller and systematic involvement in the international relations. A state without foreign policy is like a ship without a rudder and will drift aimlessly without any direction buffeted by every storm and sweep of events. A foreign policy creates a sense of purpose as well as the

Saudi Arabia And Its Role In The Wto

1879 words - 8 pages A look at Saudi Arabia and WTO : Opportunities and Challenges : As the world’s largest oil exporter, the 23rd largest importer, and the largest economy in the Middle East, Saudi Arabia is a global trade power and as such the Kingdom’s absence from the World Trade Organization (WTO) has been an obvious shortcoming in the global trade system. This was rectified on 11 December 2005 when Saudi Arabia became the 149th member of the WTO after

The World Bank Essay

2251 words - 10 pages system not only allows parties to access to most updated data, but also avoids data discrepancies from human errors during traditional report and data input process. 4. In your opinion, how well has the World Bank coped with the information revolution? The transition of IT role at the WB from a supporting role to enabling business role must be credited to Wolfensohn’s vision and ability to spot powerful trends in business development to