The World Bank, an international financial institution, aims to reduce global poverty through loans to use to reduce its developing member countries and underdeveloped. Read more about the World Bank, its objectives, its institutions to learn, etc.
The World Bank was founded in 1944 with four other institutions in the conference in Bretton Woods. It was the official name of the International Bank for Reconstruction and Development and with efforts, Europe and Japan re-established after the destruction of the Second World War. It began operations in 1946 with 38 members, and France was the first country to receive support.
Today almost all countries in the world, members of the bank, which started with only 38 members. The IBRD has 186 member countries, while IDA has 168 members. United States of America is the largest shareholder, followed by Japan, China, Germany, Great Britain and France.
The World Bank is looking for economic growth with an emphasis on infrastructure development, strengthening of financial systems, control of corruption, strengthening the capacity of governments and research and consulting firm. About the same, the Bank is granted to lower interest rates for middle-income countries and irrelevant to the poor and underdeveloped countries. Moreover, these loans have a very long period extended a moratorium.
Bank loans is usually in the form:
• Investment loans - for several infrastructure projects
• Adaptable program loans - for advanced development programs in the long run.
• Learning and Innovation Loan - for investment in small projects and capacity building.
• Technical assistance loans - strengthening the institutional capacity in the borrowing country.
• financial intermediary loans - long-term funds to financial institutions in the borrowing country.
• The loan Disaster Recovery - recovery of property in case of exceptional events.
• Rehabilitation loans - to support reform programs of the government.
• Debt reduction loan - to help highly indebted countries to reduce their commercial debt.
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