World Bank

(Part 2)

 

The World Bank focus on making low interest loans to governments in poor nations that want to undertake significant infrastructure investments such as building damns or road ways. The bank objective is meeting the basic needs of the people in the developing world. The size and numbers of loans have expanded from infrastructures into social services and other sectors (Hill, 2011). This is beneficial to many nations in that they have support from the World Bank to prevent poverty.

Criticism of the World Bank and the IMF generally center on concern about the approaches adopted in formulating their policies, and the way they are governed. This includes the social and economic impact these policies have on the population of countries who gain from financial assistance from these two institutions, and accountability for these impacts (Woods, 2005).

 

The World Bank operates day-to-day under the leadership and direction of the president, management and senior staff, and the vice presidents in charge of regions, sectors, networks and functions (World Bank 2012).

These agencies oversee the coordination of a conglomerate of responsibilities that included in the World Banks mission. The World Banks is also a major contributor in the combating of AIDS in poor countries. (World Bank)

In conclusion, The World Bank consisting of member countries but Chaired by a US Citizen as President works to reduce poverty and contribute to sustainable development of poor countries. As stated early, the World Bank desire to be more transparent, more participatory, and more accountable to its customers and countries it provides assistance to as well as member nations that provide its funding. As discussed, the functions, who benefits from the World Bank, itТs make up, and how important itТs organization is to the global environment are all key responsibilities of the World Bank in keeping the bank in existence and ensuring poor countries are funded during crisis to prevent global issues throughout the World from trickling form Country to Country.

 

References

 

Woods, B. (2005, August). What are the main concerns and criticism about the World Bank and IMF? Bretton Woods Project, Critical voices on the World Bank and IMF. Retrieved February 13, 2012,

World Bank. (2012, January). Leadership. About US. Retrieved February 13, 2012.

Woods, N. (2003, Spring). Unelected government making the IMF and the World Bank more accountable. Brookings Institution. Retrieved February 13, 2012.