A World free of poverty

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• A World free of poverty

World Bank
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History

• Founded in 1944,at Bretton Woods, New Hampshire
• First loan to France in 1947 of 250 million
• 1947 - Incorporation into UN System
• 1979 - Lending for the fiscal year crosses the
  10 billion mark for the first time
• 1995 James D. Wolfensohn becomes Bank president

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What is the World Bank ?

• One of the worlds largest sources of development
  assistance (FY 2001 provided more than US17
  billion in loans)
• IBRD has 183 members, IDA has 161, the IFC has
  174, MIGA has 154 and ICSID has 133

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Partners

• International Organizations (EU,IMF,UN,WTO)
• Affiliates (CGIAR,CGAP, Development Gateway, GEF)
• NGOs and Civil Society
• Business and the Private Sector
• Donors Co-financing
• Students and the Academic Community

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The Bank is Accountable

• Information sharing essential for effective and
  sustainable growth.publicly accountable to
  member countries
• Staff and management held directly accountable by
  its members
• OED reviews all Bank-financed projects and
  reports directly to the Board

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Where does the money go?
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Where does the money go? (cont.)
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The role of the World Bank

• Partner in strengthening economies and expanding
  markets lends money, doesnt make grants
• G-7 members (Canada ,France, Germany, Italy,
  Japan, UK, and U.S)- U.S. has largest
  shareholding in the Bank (approximately 17)
• Bank comparable to a Global Cooperative

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Conclusion Lessons of Experience

• Challenges
• Proposal for a comprehensive development
  Framework might be too holistic
• Absolute number of poor people is rising as a
  result of rapid population growth
• Resistance by some governments