World Bank Fact Sheet:

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World Bank


Description

The World Bank provides a source of financial and technical assistance to developing countries. It consists of two development institutions which are currently owned by 185 memeber nations. The World Bank is made up of two sub-sections:

History
The organisation was set up in December 1945 after the United Nations Monetary and Financial Conference|Bretton Woods agreement.

Objectives

The World Bank's objective is fairly simple; to help countries emerging from conflict. This boils down to a variety of more targeted objective:
Funds biodiversity projects
  • Funds HIV/aids eradication projects
  • Work successfully in partnership with: International Emissions Trading Association, World Wildlife fund, Food and Agricultural Organization, United Nations Development Program, Consultative Group on International Agricultural Research, Consultative Group to Assist the Poor.
  • Cut debt in developing countries- 28 countries receiving financial support, which will surmount to US$56 billion over time via the Heavily Indebted Poor Countries initiative

Current activity

  • At work in over 100 countries
  • Transferred approximately US$36.5 billion to education since lending started in this sector in 1963
  • Works with united nations agencies, civil society organizations, bilateral agencies donors
  • Started the Heavily Indebted Poor Countries initiative in 1996 to cut debt in developing countries- 28 countries receiving financial support, which will surmount to US$56 billion over time


· Helps countries emerging from conflict

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Membership

Criticisms