GROUP MEMBERS Nishanth M.S. -13160 Palghat.S.Hitesh-13161 Pranjal Kalita-13162 Prayati Baxi-13163 Priyankar Das-13164 Rachit Kumar Gupta-13165 THE WORLD BANK Headquarters- Washington DC
COMPRISES OF TWO MAIN INSTITUTIONS:
IBRD-aims to reduce poverty in middle-income and creditworthy poorer countries
IDA-IDA focuses exclusively on the worlds poorest countries.
IBRD VISION:
"The World Bank Group aims to fight poverty with passion and professionalism for lasting results - to help people help themselves and their environments by producing resources, sharing knowledge, building capacity, and forging partnerships in the public and private sector
PRIMARY OBJECTIVE:
Long-term financing of after-war reconstruction and long-term financing of development of less developed member countries (developing countries and countries in transition)
INTRODUCTION The International Bank for Reconstruction and Development is commonly known as the World Bank
Jim Yong Kim, a Korean-American physician and anthropologist is serving as the 12th President of the World Bank since July 1 2012
It aims to reduce poverty in middle-income countries and creditworthy poorer countries
BRIEF HISTORY OF THE WORLD BANK It was set up in 1944 at a conference convened in the town of Bretton Woods, New Hampshire, at the end of the Second World War
The Bank issued its inaugural loan of $250 million ($2.6 billion dollars) to France in 1947 to finance infrastructure projects.
In 1978, it began its Annual World Development Report, which discusses growth prospects for developing countries
The Bank set up a Prototype Carbon Fund in 2000 to promote technology transfer to developing countries for addressing climate change.
In response to the 20072008 world food price crisis, the IBRD initiated a Global Food Crisis Response Program. GOVERNANCE AND MEMBERSHIP It is governed by the World Bank's Board of Governors
Board of Directors consists of 25 executive directors and is chaired by the President of the World Bank Group.
IBRD is owned by 188 member countries which pay in capital, vote on matters of policy, and approve all of its activities
ROLES AND OBJECTIVES OF WORLD BANK 1. To assist in the reconstruction and development of territories of members by facilitating the investment of capital for productive purpose 2. When private capital is not available on reasonable terms, to supplement private investment 3. To promote the long-range balanced growth of international trade and the maintenance of equilibrium in balances of payments 4. To arrange the loans made or guaranteed by it in relation to international loans through other channels 5. To conduct its operations with due regard to the effect of international investment on business conditions MAJOR FUCNTIONS FUNDING
KNOWLEDGE SERVICES International Development Association It is an international financial institution which offers concessional loans and grants to the world's poorest developing countries .
The IDA is a member of the World Bank Group and is headquartered in Washington, D.C., United States.
It was established in 1960 to complement the existing International Bank for Reconstruction and Development .
The association shares the World Bank's mission of reducing poverty and aims to provide affordable development financing to countries .
The IDA is the single largest provider of funds to economic and human development projects in the world's poorest nations.
Brief History IDA was created as an agency to provide loans to developing countries.
With an initial funding of $912.7 million, IDA was launched on September 24, 1960 with 15 signatory countries.
By the end of January 1960, fifteen countries signed the articles of agreement which established the International Development Association
IDA has grown to include 172 member countries .
It has become the leading source of concessional lending to 82 of the worlds poorest countries with 40 countries in Africa.
Functions of IDA To provide long term credit to poor countries at soft terms. To co-ordinate with IBRD in co-financing. To create supplementary source of capital for member countries. To increase the productivity. To promote economic growth of member developing countries
Membership IDA has 172 member countries Lends to 81 borrowing countries Eligibility criteria: countries are assessed by their poverty and their lack of creditworthiness for commercial and IBRD borrowing
UNCTAD It was established in 1964 as a permanent intergovernmental body. It is the principal organ of the United Nations General Assembly
It was established in order to provide a forum where the developing countries could discuss the problems relating to their economic development.
UNCTAD has 194 member states, has 400 staff members and is headquartered in Geneva, Switzerland.
The Secretary-General of UNCTAD is Dr. Supachai Panitchpakdi (Thailand) BRIEF HISTORY OF UNCTAD In the early 1960s, growing concerns about the place of developing countries in international trade led many of these countries to call for the convening of a full- fledged conference specifically devoted to tackling these problems and identifying appropriate international actions.
UNCTAD grew from the view that existing institutions like GATT (now replaced by the world trade organisation, WTO), the international monetary fund (IMF), and World Bank were not properly organized to handle the particular problems of developing countries.
OBJECTIVES To work as a laboratory of ideas and to provide on-the-ground assistance to help developing countries raise living standards through trade, investment, finance and technology
To help developing countries benefit from the globalized economy
To contribute to international debate on emerging issues related to developing countries and the world economy
FUNCTIONS It functions as a forum for intergovernmental deliberations
It undertakes research, policy analysis and data collection for the debates of government representatives and experts.
It provides technical assistance tailored to the specific requirements of developing countries,