The World Bank
Jordan Furtado
Research Paper
12/4/2010
Economics Money and Banking
The World Bank
The World Bank, when you first hear the name it makes you think that it is a traditional international bank. That is not true though; The World Bank isn’t exactly what you would think it is. In reality, it is a group that is compiled of five international organizations that facilitate poverty stricken countries all across the world for developing economic growth and the elimination of poverty. The five organizations that combine to form The World Bank are: The International Bank for Reconstruction and Development, The International Finance Cooperation, The International Development Association, The Multilateral Investment Guarantee Agency, and The International Center for Settlements of Investment Disputes. The World Bank has supported and provided for countries across the world and has been a vital part of the worlds improving economies.
Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions. Their mission evolved from the International Bank for Reconstruction and Development (IBRD) as a facilitator of post-war reconstruction and development to the present day mandate of worldwide poverty alleviation in close coordination with their affiliate, the International Development Association, and other members of the World Bank Group, the International Finance Corporation (IFC), the Multilateral Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). They are based solely in Washington, DC, where their staff includes economists, public policy experts, sector experts and social scientists and now more than a third of the staff is based in country offices (1.The World Bank).
The World Bank focuses only on developing countries with the ambitions to improve certain things such as agriculture for example. It provides loans to countries that are
Research Paper
12/4/2010
Economics Money and Banking
The World Bank
The World Bank, when you first hear the name it makes you think that it is a traditional international bank. That is not true though; The World Bank isn’t exactly what you would think it is. In reality, it is a group that is compiled of five international organizations that facilitate poverty stricken countries all across the world for developing economic growth and the elimination of poverty. The five organizations that combine to form The World Bank are: The International Bank for Reconstruction and Development, The International Finance Cooperation, The International Development Association, The Multilateral Investment Guarantee Agency, and The International Center for Settlements of Investment Disputes. The World Bank has supported and provided for countries across the world and has been a vital part of the worlds improving economies.
Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions. Their mission evolved from the International Bank for Reconstruction and Development (IBRD) as a facilitator of post-war reconstruction and development to the present day mandate of worldwide poverty alleviation in close coordination with their affiliate, the International Development Association, and other members of the World Bank Group, the International Finance Corporation (IFC), the Multilateral Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). They are based solely in Washington, DC, where their staff includes economists, public policy experts, sector experts and social scientists and now more than a third of the staff is based in country offices (1.The World Bank).
The World Bank focuses only on developing countries with the ambitions to improve certain things such as agriculture for example. It provides loans to countries that are