The World Bank is an international financial institution that provides loans to developing countries for capital programs.
The World Bank's official goal is the reduction of poverty. According to the World Bank's Articles of Agreement (as amended effective 16 February 1989), all of its decisions must be guided by a commitment to promote foreign investment, international trade, and facilitate capital investment.
The World Bank differs from the World Bank Group, in that the World Bank comprises only two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the latter incorporates these two in addition to three more: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID).
Read more about World Bank: History, Leadership, List of Chief Economists, Members, Poverty Reduction Strategies, Global Partnerships and Initiatives, Country Assistance Strategies, Clean Air Initiative, United Nations Development Business, Open Data Initiative, Criticisms
... of liquidity threatened its main creditors, Malawi’s two commercial banks ... After 1985, declining world tobacco prices and supporting the estates made ADMARC insolvent ... agreed to partially privatise it to obtain World Bank loans, which required a phased but complete elimination of fertilizer subsidies ...
... The following listing is taken from the World Bank's Conflict in Somalia Drivers and Dynamics from 2005 and the United Kingdom's Home Office publication, Somalia Assessment 2001 ... Habar Gidir Sa'ad Suleiman Ayr Sarur Waadan In the south central part of Somalia the World Bank shows the following clan tree Hawiye Karanle Murusade Gorgate Abgal Habargidir Sheikhal ...
... The World Bank requires sovereign immunity from countries it deals with ... the people." As the United States has veto power, it can prevent the World Bank from taking action against its interests ...
... In Pakistan the central bank's foreign currency reserves, when counting forward liabilities is said to only amount to as little as $3 billion, sufficient for a single month of imports ... The new finance advisor led the Pakistani delegation to IMF-World Bank meeting in USA with a hope to obtain a loan from the World Bank which has been stopped now due to reservations ...
... United States and launched by the World Bank and its former president, James Wolfensohn in 1997, is a coalition of civil society organizations, their governments and the World Bank researching about structural ...
Famous quotes containing the words bank and/or world:
“on a May morwening upon Malverne hilles
Me befel a ferly, of fairye me thoughte;
I was wery ofwandred and wente me to reste
Under a brod bank by a bournes side;
And as I lay and lenede and lookede on the watres,
I slomerede into a sleeping, it swyede so merye.”
—William Langland (13301400)
“In this world without quiet corners, there can be no easy escapes from history, from hullabaloo, from terrible, unquiet fuss.”
—Salman Rushdie (b. 1947)