We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

History of the World Bank. What is the impact of the world bank upon development in the south - Essay Example

Comments (1) Cite this document
The World Bank (WB) is a renowned international financial institution. Major objective behind its formation was to provide loans to developing countries through capital programs. …
Download full paperFile format: .doc, available for editing
Polish This Essay93.4% of users find it useful
History of the World Bank. What is the impact of the world bank upon development in the south
Read TextPreview

Extract of sample
"History of the World Bank. What is the impact of the world bank upon development in the south"

Download file to see previous pages The World Bank Group has five agencies (IEG, 2008). Since its inception during World War II with an objective to rebuild Europe, the World Bank generated more criticism and controversy than any other financial institution in the world. Even threatened by its conceivers, beneficiaries, and supporters, the World Bank is closely monitored by agencies which developed around it over a period of time. The institution itself reached at a stage of engulfed by the mounting pressures. However, these pressures have always been there and exerted by either donor governments, national governments, donor agencies, citizen groups, or even World Bank's employees. Their annual meetings are echoed by the slogans of "Ya Basta!" ("Enough is enough!")(Nath, 2001, p.1). Moreover, Meltzer commission report (2000) declared the World Bank as "irrelevant" in the mission of reducing poverty and promoting development (cited in Nath, 2001, p.1). The World Bank as Global Development Agency During the Bretton Woods, USA conference in 1944, 43 countries' meeting led to the establishment of International Bank for Reconstruction and Development (IBRD).IBRD's major objective was to provide loans for rebuilding Europe after WWII. For instance IBRD provided US$28,600,000 for rebuilding and development of the steel industry in France, Belgium, and Luxembourg (World Bank, cited in Nath, 2001, p.2).However, the World Bank's lending portfolio failed to meet the increasing demands within the industrialized countries. Mounting pressure led IBRD to channelize its funds in other developing and poor nations. However, the lack of expertise in dealing with developing countries and a continuous pressure to lend made it disastrous which led to overnight rebirth of IBRD as the World Bank. In its shift from West to East, the World Bank could anticipate the investment opportunities in long-term loans to developing countries for their huge infrastructure projects. It led to the dramatic increase in the Bank's lending for large scale dam project sin Asia, roads projects in Africa, and highway projects in Latin America(Nath,2001,pp.2-3). With above deployments, the World Bank found its niche-electricity supply that is associated with dam projects and represented nearly 50 percent of Bank's annual lending.World Bank patented the approach of "Economic Colonization" for global development. The newly found role as a developmental financial institution, World Bank grew as a powerful and influential institution throughout world. Its investments proved to be very profitable for donors and stakeholders since 1948.There had been times when annual rate of return exceeded the annual amount of loan provided. In that period, even when Bank focused on investing in socials sector, the traditional sector investments increased (World Bank 1992, BIC, 1990 cited in Nath, 2001, p.3). The trend of such investment and returns continued until international debt crisis emerged in early 1980s.The risk of World Bank loan's default increased. The Bank changed its focus after a series of closed door meetings of World Bank's shareholders (United States, Japan, Germany, France, and UK). Rather than a traditional project lending approach, World Bank focused on bringing developing economies in its control in order to ensure the return. Until the ends of early 80s, approximately 25 percent of the Bank's funds were used for economic restructuring of developing countries through its Structural Adjustment Programs (SAPs).SAP was remote controlling the budget and expenses of the recipient countries. World Bank and IMF, often called Bretton Woods twins, were in a ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“History of the World Bank. What is the impact of the world bank upon Essay”, n.d.)
History of the World Bank. What is the impact of the world bank upon Essay. Retrieved from https://studentshare.org/business/1400929-what-is-the-impact-of-the-world-bank-upon
(History of the World Bank. What Is the Impact of the World Bank Upon Essay)
History of the World Bank. What Is the Impact of the World Bank Upon Essay. https://studentshare.org/business/1400929-what-is-the-impact-of-the-world-bank-upon.
“History of the World Bank. What Is the Impact of the World Bank Upon Essay”, n.d. https://studentshare.org/business/1400929-what-is-the-impact-of-the-world-bank-upon.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
alana30 added comment 7 days ago
Student rated this paper as
The topic of "History of the World Bank. What is the impact of the world bank upon development in the south?" was tough to find. I spent countless hours to find it. Here at StudentShare, I got the best example. Many thanks!
Economic Development in South East Asia
Economic Development in South East Asia Student’s Names Institution’s Name Abstract The economic outlay of South East Asia reveals diverse yet unifying similarities regarding policy issues, socio-political background, and development strategy. A sound grasp of globalization demands itemized analysis of the region in question in view of its socio-economic and political identity, from the relevant past to the foreseeable future.
16 Pages(4000 words)Term Paper
Impact of the world bank and UNCTAD on developing countries

It is evidently clear from the discussion that among the various policies, the Investment Policy of UNCTAD is directed towards the developing countries in order to enhance their investment policies as well as to publicize the governments and the international private sector with an individual country’s business atmosphere.

14 Pages(3500 words)Essay
What has been the impact of World Bank upon development in the south
What has been the impact of World Bank upon development in the south? Can the economic growth of the country be ascertained through external borrowing? Or it becomes just another burden for the future generation? International debts are debts owned by the countries to the non-residents.
15 Pages(3750 words)Essay
The IMF and the World Bank “The International Monetary Fund (IMF) and the World Bank are institutions in the United Nations system and are composed of member countries, 188 countries. Their approaches to this goal are complementary, with the IMF, focusing on macroeconomic issues and the World Bank concentrating on long-term economic development and poverty reduction” (IMF, 2012, p.
5 Pages(1250 words)Essay
World Bank- Globalization
The World Bank is also an international institution that has its activities spread across the globe. These activities are performed under the World Bank's mission "a world free of poverty". World Bank has in real sense a great contribution towards globalization in most of its activities.
12 Pages(3000 words)Essay
World Bank Anti-Corruption
Studies contend that the phenomenon of corruption severely inhibits socio-economic growth to have drastic consequences for developing nations through distortion of law and an undermining of institutions that are fundamental to development (Kaufmann & Vicente, 2005; World Bank, 2006a).
4 Pages(1000 words)Essay
World Bank
It is no doubt the best tool for managing globalization but there is also the danger of declining of this tool when it is needed the most - in present times. The study deals with all such policies of World Bank, their implementation, its role in global economic reforms and the emerging challenges and the consequent evolving roles to handle the tough situations.
12 Pages(3000 words)Essay
Case study World Bank
(Kotler, Philip. Marketing management: analysis, planning, implementation and control 8th ed. Prentice-Hall, 1994) ( Webber) Globalization and International investment on the rise, the premier business publication Forbes magazine undertook the responsibility of evaluating the world trend in investment and marketing on some sound ground rules which would govern their role in the arena of international player in the world market.
3 Pages(750 words)Essay
World bank
It helps them in developing reforms and provides them with finance which helps member nations in healing different sectors of their nations such as the education sector. The organization is following two objectives that it wants to attain by the period of 2030
2 Pages(500 words)Research Paper
World Bank project
Senegal is a poor country and therefore funding of the training project by the World Bank was inevitable. The central purpose of the project
3 Pages(750 words)Essay
Let us find you another Essay on topic History of the World Bank. What is the impact of the world bank upon development in the south for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us