World Bank - Wikipedia

The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the ... WorldBank FromWikipedia,thefreeencyclopedia Jumptonavigation Jumptosearch Internationalfinancialinstitution NottobeconfusedwithWorldBankGroup. TheWorldBankTheWorldBankGroupbuildinginWashington,D.C.EstablishedJuly 1944;77 yearsago (1944-07)TypeInternationalfinancialinstitutionLegalstatusTreatyHeadquarters1818HStreetNWWashington,D.C.,U.S.[1]Membership189countries(IBRD)[2]174countries(IDA)[2]KeypeopleDavidMalpass(President)[3]AnshulaKant(MDandCFO)CarmenReinhart(ChiefEconomist,15June2020)[4]ParentorganizationWorldBankGroupWebsitewww.worldbank.org TheWorldBankisaninternationalfinancialinstitutionthatprovidesloansandgrantstothegovernmentsoflow-andmiddle-incomecountriesforthepurposeofpursuingcapitalprojects.[5]TheWorldBankisthecollectivenamefortheInternationalBankforReconstructionandDevelopment(IBRD)andtheInternationalDevelopmentAssociation(IDA),twooffiveinternationalorganizationsownedbytheWorldBankGroup.ItwasestablishedalongwiththeInternationalMonetaryFundatthe1944BrettonWoodsConference.Afteraslowstart,itsfirstloanwastoFrancein1947.Inthe1970s,itfocusedonloanstodevelopingworldcountries,shiftingawayfromthatmissioninthe1980s.Forthelast30years,ithasincludedNGOsandenvironmentalgroupsinitsloanportfolio.ItsloanstrategyisinfluencedbytheMillenniumDevelopmentGoalsaswellasenvironmentalandsocialsafeguards. TheWorldBankisrunbyapresidentand25executivedirectors,aswellas29variousvicepresidents.IBRDandIDAhave189and174membercountries,respectively.TheU.S.,Japan,China,GermanyandtheU.K.havethemostvotingpower.Thebankaimsloansatdevelopingcountriestohelpreducepoverty.Thebankisengagedinseveralglobalpartnershipsandinitiatives,andtakesaroleinworkingtowardaddressingclimatechange.TheWorldBankoperatesanumberoftrainingwingsanditworkswiththeCleanAirInitiativeandtheUNDevelopmentBusiness.ItworkswithintheOpenDataInitiativeandhostsanOpenKnowledgeRepository. TheWorldBankhasbeencriticizedaspromotinginflationandharmingeconomicdevelopment.Thewayitisgovernedhasbeencriticized.Therehavebeenmajorprotestsagainstthebank.Therehasalsobeencriticismofthebank’sresponsetotheCovid-19pandemic. Contents 1WorldBankGroup 2History 2.11944–1974 2.21974–1980 2.31980–1989 2.41989–present 2.4.1Criteria 2.4.2EnvironmentalandSocialSafeguards 3Leadership 3.1Presidents 3.2ChiefEconomists 3.3Politics 4Members 4.1Votingpower 5Listof20largestcountriesbyvotingpowerineachWorldBankinstitution 6Povertyreductionstrategies 7Globalpartnershipsandinitiatives 7.1Climatechange 7.2Foodsecurity 8Trainingwings 8.1GlobalOperationsKnowledgeManagementUnit 8.2GlobalDevelopmentLearningNetwork 8.2.1GDLNAsiaPacific 8.3JUSTPALNetwork 9Countryassistancestrategies 10CleanAirInitiative 11UnitedNationsDevelopmentBusiness 12Opendatainitiative 13Grantstable 14OpenKnowledgeRepository 15Criticismsandcontroversy 15.1Structuraladjustment 15.2Fairnessofassistanceconditions 15.3Sovereignimmunity 15.4PricewaterhouseCoopers 15.5COVID-19 16Seealso 17References 18Furtherreading 19Externallinks WorldBankGroup[edit] TheWorldBankGroupisanextendedfamilyoffiveinternationalorganizations,andtheparentorganizationoftheWorldBank,thecollectivenamegiventothefirsttwolistedorganizations,theIBRDandtheIDA: InternationalBankforReconstructionandDevelopment(IBRD) InternationalDevelopmentAssociation(IDA) InternationalFinanceCorporation(IFC) MultilateralInvestmentGuaranteeAgency(MIGA) InternationalCentreforSettlementofInvestmentDisputes(ICSID) History[edit] HarryDexterWhite(left)andJohnMaynardKeynes,the"foundingfathers"ofboththeWorldBankandtheInternationalMonetaryFund(IMF)[6] TheWorldBankwascreatedatthe1944BrettonWoodsConference,alongwiththeInternationalMonetaryFund(IMF).ThepresidentoftheWorldBankistraditionallyanAmerican.[7]TheWorldBankandtheIMFarebothbasedinWashington,D.C.,andworkcloselywitheachother. TheGoldRoomattheMountWashingtonHotelwheretheInternationalMonetaryFundandWorldBankwereestablished AlthoughmanycountrieswererepresentedattheBrettonWoodsConference,theUnitedStatesandUnitedKingdomwerethemostpowerfulinattendanceanddominatedthenegotiations.[8]: 52–54 TheintentionbehindthefoundingoftheWorldBankwastoprovidetemporaryloanstolow-incomecountriesthatcouldnotobtainloanscommercially.[9]TheBankmayalsomakeloansanddemandpolicyreformsfromrecipients.[9] 1944–1974[edit] InitsearlyyearstheBankmadeaslowstartfortworeasons:itwasunderfunded,andtherewereleadershipstrugglesbetweentheUSExecutiveDirectorandthepresidentoftheorganization.WhentheMarshallPlanwentintoeffectin1947,manyEuropeancountriesbeganreceivingaidfromothersources.Facedwiththiscompetition,theWorldBankshifteditsfocustonon-Europeancountries.Until1968,itsloanswereearmarkedfortheconstructionofinfrastructureworks,suchasseaports,highwaysystems,andpowerplants,thatwouldgenerateenoughincometoenableaborrowercountrytorepaytheloan.In1960,theInternationalDevelopmentAssociationwasformed(asopposedtoaUNfundnamedSUNFED),providingsoftloanstodevelopingcountries. Before1974,thereconstructionanddevelopmentloanstheWorldBankmadewererelativelysmall.Itsstaffwasawareoftheneedtoinstillconfidenceinthebank.Fiscalconservatismruled,andloanapplicationshadtomeetstrictcriteria.[8]: 56–60  ThefirstcountrytoreceiveaWorldBankloanwasFrancein1947.TheBank'spresidentatthetime,JohnMcCloy,choseFranceovertwootherapplicants,PolandandChile.TheloanwasforUS$250 million,halftheamountrequested,andcamewithstrictconditions.FrancehadtoagreetoproduceabalancedbudgetandgivepriorityofdebtrepaymenttotheWorldBankoverothergovernments.WorldBankstaffcloselymonitoredtheuseofthefundstoensurethattheFrenchgovernmentmettheconditions.Inaddition,beforetheloanwasapproved,theUnitedStatesStateDepartmenttoldtheFrenchgovernmentthatitsmembersassociatedwiththeCommunistPartywouldfirsthavetoberemoved.TheFrenchgovernmentcompliedandremovedtheCommunistcoalitiongovernment—theso-calledtripartite.Withinhours,theloantoFrancewasapproved.[10] 1974–1980[edit] From1974to1980thebankconcentratedonmeetingthebasicneedsofpeopleinthedevelopingworld.Thesizeandnumberofloanstoborrowersgreatlyincreased,asloantargetsexpandedfrominfrastructureintosocialservicesandothersectors.[11] ThesechangescanbeattributedtoRobertMcNamara,whowasappointedtothepresidencyin1968byLyndonB.Johnson.[8]: 60–63 McNamaraimploredbanktreasurerEugeneRotbergtoseekoutnewsourcesofcapitaloutsideofthenorthernbanksthathadbeentheprimarysourcesoffunding.Rotbergusedtheglobalbondmarkettoincreasethecapitalavailabletothebank.[12]OneconsequenceoftheperiodofpovertyalleviationlendingwastherapidriseofThirdWorlddebt.From1976to1980,developingworlddebtroseatanaverageannualrateof20%.[13][14] TheWorldBankAdministrativeTribunalwasestablishedin1980,todecideondisputesbetweentheWorldBankGroupanditsstaffwhereallegationofnon-observanceofcontractsofemploymentortermsofappointmenthadnotbeenhonored.[15] 1980–1989[edit] McNamarawassucceededbyUSPresidentJimmyCarter'snominee,AldenW.Clausen,in1980.[16][17]ClausenreplacedmanymembersofMcNamara'sstaffandcraftedadifferentmissionemphasis.His1982decisiontoreplacethebank'sChiefEconomist,HollisB.Chenery,withAnneKruegerwasanexampleofthisnewfocus.KruegerwasknownforhercriticismofdevelopmentfundingandfordescribingThirdWorldgovernmentsas"rent-seekingstates". Duringthe1980sthebankemphasizedlendingtoserviceThird-Worlddebt,andstructuraladjustmentpoliciesdesignedtostreamlinetheeconomiesofdevelopingnations.UNICEFreportedinthelate1980sthatthestructuraladjustmentprogramsoftheWorldBankhadbeenresponsiblefor"reducedhealth,nutritionalandeducationallevelsfortensofmillionsofchildreninAsia,LatinAmerica,andAfrica".[18] 1989–present[edit] Beginningin1989,inresponsetoharshcriticismfrommanygroups,thebankbeganincludingenvironmentalgroupsandNGOsinitsloanstomitigatethepasteffectsofitsdevelopmentpoliciesthathadpromptedthecriticism.[8]: 93–97 Italsoformedanimplementingagency,inaccordancewiththeMontrealProtocols,tostopozone-depletiondamagetotheearth'satmospherebyphasingouttheuseof95%ofozone-depletingchemicals,withatargetdateof2015.Sincethen,inaccordancewithitsso-called"SixStrategicThemes",thebankhasputvariousadditionalpoliciesintoeffecttopreservetheenvironmentwhilepromotingdevelopment.Forexample,in1991thebankannouncedthattoprotectagainstdeforestation,especiallyintheAmazon,itwouldnotfinanceanycommercialloggingorinfrastructureprojectsthatharmtheenvironment. Inordertopromoteglobalpublicgoods,theWorldBanktriestocontrolcommunicablediseasessuchasmalaria,deliveringvaccinestoseveralpartsoftheworld,andjoiningcombatforces.In2000thebankannounceda"waronAIDS"andin2011theBankjoinedtheStopTuberculosisPartnership.[19] Traditionally,basedonatacitunderstandingbetweentheUnitedStatesandEurope,thepresidentoftheWorldBankhasbeenselectedfromcandidatesnominatedbytheUnitedStates.ThisissignificantbecausetheWorldBanktendstolendmorereadilytocountriesthatarefriendlywiththeUnitedStates,notbecauseofdirectU.S.influencebutbecauseoftheemployeesoftheWorldBank.[20]In2012,forthefirsttime,twonon-UScitizenswerenominated. On23March2012,U.S.PresidentBarackObamaannouncedthattheUnitedStateswouldnominateJimYongKimasthenextpresidentoftheBank.[21]JimYongKimwaselectedon27April2012andreelectedtoasecondfive-yeartermin2017.Heannouncedthathewouldresigneffective1February2019.[22]Hewasreplacedonaninterimbasisbynow-formerWorldBankCEOKristalinaGeorgieva,thenbyDavidMalpasson9April2019. AmidtheglobalfightwiththeCOVID-19pandemic,inSeptember2020theWorldBankannounceda$12billionplantosupply"lowandmiddleincomecountries"withavaccineonceitisapproved.Theplanissettoaffectovertwobillionpeople.[23] TheWorldBankGroupheadquartersbuildinginWashington,D.C. Criteria[edit] Thissectiondoesnotciteanysources.Pleasehelpimprovethissectionbyaddingcitationstoreliablesources.Unsourcedmaterialmaybechallengedandremoved.(January2022)(Learnhowandwhentoremovethistemplatemessage) VariousdevelopmentsbroughttheMillenniumDevelopmentGoalstargetsfor2015withinreachinsomecases.Forthegoalstoberealized,sixcriteriamustbemet:strongerandmoreinclusivegrowthinAfricaandfragilestates,moreeffortinhealthandeducation,integrationofthedevelopmentandenvironmentagendas,moreaswellasbetteraid,movementontradenegotiations,andstrongerandmorefocusedsupportfrommultilateralinstitutionsliketheWorldBank.[24] EradicateExtremePovertyandHunger:From1990through2004theproportionofpeoplelivinginextremepovertyfellfromalmostathirdtolessthanafifth.Althoughresultsvarywidelywithinregionsandcountries,thetrendindicatesthattheworldasawholecanmeetthegoalofhalvingthepercentageofpeoplelivinginpoverty.Africa'spoverty,however,isexpectedtorise,andmostofthe36countrieswhere90%oftheworld'sundernourishedchildrenliveareinAfrica.Lessthanaquarterofcountriesareontrackforachievingthegoalofhalvingunder-nutrition. AchieveUniversalPrimaryEducation:Thepercentageofchildreninschoolindevelopingcountriesincreasedfrom80%in1991to88%in2005.Still,about72 millionchildrenofprimaryschoolage,57%ofthemgirls,werenotbeingeducatedasof2005[update]. PromoteGenderEquality:Thetideisturningslowlyforwomeninthelabormarket,yetfarmorewomenthanmen—worldwidemorethan60%—arecontributingbutunpaidfamilyworkers.TheWorldBankGroupGenderActionPlanwascreatedtoadvancewomen'seconomicempowermentandpromotesharedgrowth. ReduceChildMortality:Thereissomeimprovementinsurvivalratesglobally;acceleratedimprovementsareneededmosturgentlyinSouthAsiaandSub-SaharanAfrica.Anestimated10million-pluschildrenunderfivediedin2005;mostoftheirdeathswerefrompreventablecauses. ImproveMaternalHealth:Almostallofthehalf-millionwomenwhodieduringpregnancyorchildbirtheveryyearliveinSub-SaharanAfricaandAsia.Therearenumerouscausesofmaternaldeaththatrequireavarietyofhealthcareinterventionstobemadewidelyaccessible. CombatHIV/AIDS,Malaria,andOtherDiseases:AnnualnumbersofnewHIVinfectionsandAIDSdeathshavefallen,butthenumberofpeoplelivingwithHIVcontinuestogrow.Intheeightworst-hitsouthernAfricancountries,prevalenceisabove15percent.Treatmenthasincreasedglobally,butstillmeetsonly30percentofneeds(withwidevariationsacrosscountries).AIDSremainstheleadingcauseofdeathinSub-SaharanAfrica(1.6 milliondeathsin2007).Thereare300to500 millioncasesofmalariaeachyear,leadingtomorethan1 milliondeaths.Nearlyallthecasesandmorethan95percentofthedeathsoccurinSub-SaharanAfrica. EnsureEnvironmentalSustainability:Deforestationremainsacriticalproblem,particularlyinregionsofbiologicaldiversity,whichcontinuestodecline.Greenhousegasemissionsareincreasingfasterthanenergytechnologyadvancement. DevelopaGlobalPartnershipforDevelopment:Donorcountrieshaverenewedtheircommitment.Donorshavetofulfilltheirpledgestomatchthecurrentrateofcoreprogramdevelopment.EmphasisisbeingplacedontheBankGroup'scollaborationwithmultilateralandlocalpartnerstoquickenprogresstowardtheMDGs'realization. EnvironmentalandSocialSafeguards[edit] ToensurethatWorldBank-financedoperationsdonotcompromisethesegoalsbutinsteadaddtotheirrealisation,thefollowingenvironmental,social,andlegalsafeguardsweredefined:EnvironmentalAssessment,IndigenousPeoples,InvoluntaryResettlement,PhysicalCulturalResources,Forests,NaturalHabitats,PestManagement,SafetyofDams,ProjectsinDisputedAreas,ProjectsonInternationalWaterways,andPerformanceStandardsforPrivateSectorActivities.[25] AttheWorldBank's2012annualmeetinginTokyo,areviewofthesesafeguardswasinitiated,whichwaswelcomedbyseveralcivilsocietyorganisations.[26]Asaresult,theWorldBankdevelopedanewEnvironmentalandSocialFramework,whichhasbeeninimplementationsince1October2018.[27] Leadership[edit] ThePresidentoftheBankisthepresidentoftheentireWorldBankGroup.ThepresidentisresponsibleforchairingmeetingsoftheboardsofdirectorsandforoverallmanagementoftheBank.Traditionally,thepresidentoftheBankhasalwaysbeenaU.S.citizennominatedbytheUnitedStates,thelargestshareholderinthebank(themanagingdirectoroftheInternationalMonetaryFundhavingalwaysbeenaEuropean).Thenomineeissubjecttoconfirmationbytheboardofexecutivedirectorstoserveafive-year,renewableterm.WhilemostWorldBankpresidentshavehadbankingexperience,somehavenot.[28][29] ThevicepresidentsoftheBankareitsprincipalmanagers,inchargeofregions,sectors,networksandfunctions.Therearetwoexecutivevicepresidents,threeseniorvicepresidents,and24vicepresidents.[30] TheboardsofdirectorsconsistoftheWorldBankGrouppresidentand25executivedirectors.Thepresidentisthepresidingofficer,andordinarilyhasnovoteexcepttobreakatie.TheexecutivedirectorsasindividualscannotexerciseanypowerorcommitorrepresenttheBankunlesstheboardsspecificallyauthorizedthemtodoso.Withthetermbeginning1November2010,thenumberofexecutivedirectorsincreasedbyone,to25.[31] Presidents[edit] PresidentsoftheWorldBank Name Dates Nationality Previouswork EugeneMeyer 1946–1946  UnitedStates NewspaperpublisherandChairmanoftheFederalReserve JohnJ.McCloy 1947–1949  UnitedStates LawyerandUSAssistantSecretaryofWar EugeneR.Black,Sr. 1949–1963  UnitedStates BankexecutivewithChaseandexecutivedirectorwiththeWorldBank GeorgeWoods 1963–1968  UnitedStates BankexecutivewithFirstBostonCorporation RobertMcNamara 1968–1981  UnitedStates PresidentoftheFordMotorCompany,USDefenseSecretaryunderpresidentsJohnF.KennedyandLyndonB.Johnson AldenW.Clausen 1981–1986  UnitedStates Lawyer,bankexecutivewithBankofAmerica BarberConable 1986–1991  UnitedStates NewYorkStateSenatorandUSCongressman LewisT.Preston 1991–1995  UnitedStates BankexecutivewithJ.P.Morgan JamesWolfensohn 1995–2005  UnitedStatesand Australia WolfensohnwasanaturalisedAmericancitizenbeforetakingoffice.Corporatelawyerandbanker PaulWolfowitz 2005–2007  UnitedStates USAmbassadortoIndonesia,USDeputySecretaryofDefense,DeanoftheSchoolofAdvancedInternationalStudies(SAIS)atJohnsHopkinsUniversity,aprominentarchitectof2003invasionofIraq,resignedWorldBankpostduetoethicsscandal[32] RobertZoellick 2007–2012  UnitedStates DeputySecretaryofStateandUSTradeRepresentative JimYongKim 2012–2019  UnitedStates FormerChairoftheDepartmentofGlobalHealthandSocialMedicineatHarvard,presidentofDartmouthCollege,naturalizedAmericancitizen[33] KristalinaGeorgieva 2019  Bulgaria FormerEuropeanCommissionerfortheBudgetandHumanResourcesand2010's"EuropeanoftheYear" DavidMalpass 2019–present  UnitedStates UnderSecretaryoftheTreasuryforInternationalAffairs ChiefEconomists[edit] Mainarticle:WorldBankChiefEconomist WorldBankChiefEconomists[34] Name Dates Nationality HollisB.Chenery 1972–1982  UnitedStates AnneOsbornKrueger 1982–1986  UnitedStates StanleyFischer 1988–1990  UnitedStatesand Israel LawrenceSummers 1991–1993  UnitedStates MichaelBruno 1993–1996  Israel JosephE.Stiglitz 1997–2000  UnitedStates NicholasStern 2000–2003  UnitedKingdom FrançoisBourguignon 2003–2007  France JustinYifuLin 2008–2012  China KaushikBasu 2012–2016  India PaulRomer 2016–2018  UnitedStates ShantaDevarajan(Acting) 2018–2018  UnitedStates PennyGoldberg[35][36][37] 2018–2020  UnitedStates AartKraay(Acting)[38][39] 2020–2020 CarmenReinhart 2020-present  UnitedStates Politics[edit] AmongnotablepoliticianswhoworkedforWorldBankisformerAfghanistanpresident,AshrafGhani.[40]Amid-levelemployee,FakhruddinAhmedwasthechiefadviseroftheinterimGovernmentofBangladeshduringthepoliticalcrisisof2006-2008.[41] Members[edit] Mainarticle:ListofWorldBankmembers TheInternationalBankforReconstructionandDevelopment(IBRD)has189membercountries,whiletheInternationalDevelopmentAssociation(IDA)has173.EachmemberstateofIBRDshouldalsobeamemberoftheInternationalMonetaryFund(IMF)andonlymembersofIBRDareallowedtojoinotherinstitutionswithintheBank(suchasIDA).[2]ThefiveUnitedNationsmemberstatesthatarenotmembersoftheWorldBankareAndorra,Cuba,Liechtenstein,Monaco,andNorthKorea.KosovoisnotamemberoftheUN,butisamemberoftheIMFandtheWorldBankGroup,includingtheIBRDandIDA. Votingpower[edit] In2010votingpowersattheWorldBankwererevisedtoincreasethevoiceofdevelopingcountries,notablyChina.ThecountrieswithmostvotingpowerarenowtheUnitedStates(15.85%),Japan(6.84%),China(4.42%),Germany(4.00%),theUnitedKingdom(3.75%),France(3.75%),India(2.91%),[42]Russia(2.77%),SaudiArabia(2.77%)andItaly(2.64%).Underthechanges,knownas'VoiceReform–Phase2',countriesotherthanChinathatsawsignificantgainsincludedSouthKorea,Turkey,Mexico,Singapore,Greece,Brazil,India,andSpain.Mostdevelopedcountries'votingpowerwasreduced,alongwithafewdevelopingcountriessuchasNigeria.ThevotingpowersoftheUnitedStates,RussiaandSaudiArabiawereunchanged.[43][44] Thechangeswerebroughtaboutwiththegoalofmakingvotingmoreuniversalinregardstostandards,rule-basedwithobjectiveindicators,andtransparentamongotherthings.Now,developingcountrieshaveanincreasedvoiceinthe"PoolModel",backedespeciallybyEurope.Additionally,votingpowerisbasedoneconomicsizeinadditiontotheInternationalDevelopmentAssociationcontributions.[45] Listof20largestcountriesbyvotingpowerineachWorldBankinstitution[edit] Thefollowingtableshowsthesubscriptionsofthetop20membercountriesoftheWorldBankbyvotingpowerinthefollowingWorldBankinstitutionsasofDecember2014orMarch2015:theInternationalBankforReconstructionandDevelopment(IBRD),theInternationalFinanceCorporation(IFC),theInternationalDevelopmentAssociation(IDA),andtheMultilateralInvestmentGuaranteeAgency(MIGA).Membercountriesareallocatedvotesatthetimeofmembershipandsubsequentlyforadditionalsubscriptionstocapital(onevoteforeachshareofcapitalstockheldbythemember).[46][47][48][49] The20LargestCountriesbyVotingPower(NumberofVotes) Rank Country IBRD Country IFC Country IDA Country MIGA World 2,201,754 World 2,653,476 World 24,682,951 World 218,237 1  UnitedStates 358,498  UnitedStates 570,179  UnitedStates 2,546,503  UnitedStates 32,790 2  Japan 166,094  Japan 163,334  Japan 2,112,243  Japan 9,205 3  China 107,244  Germany 129,708  UnitedKingdom 1,510,934  Germany 9,162 4  Germany 97,224  France 121,815  Germany 1,368,001  France 8,791 5  France 87,241  UnitedKingdom 121,815  France 908,843  UnitedKingdom 8,791 6  UnitedKingdom 87,241  India 103,747  SaudiArabia 810,293  China 5,756 7  India 67,690  Russia 103,653  India 661,909  Russia 5,754 8  SaudiArabia 67,155  Canada 82,142  Canada 629,658  SaudiArabia 5,754 9  Canada 59,004  Italy 82,142  Italy 573,858  India 5,597 10  Italy 54,877  China 62,392  China 521,830  Canada 5,451 11  Russia 54,651  Netherlands 56,931  Poland 498,102  Italy 5,196 12  Spain 42,948  Belgium 51,410  Sweden 494,360  Netherlands 4,048 13  Brazil 42,613  Australia 48,129  Netherlands 488,209  Belgium 3,803 14  Netherlands 42,348   Switzerland 44,863  Brazil 412,322  Australia 3,245 15  Korea 36,591  Brazil 40,279  Australia 312,566   Switzerland 2,869 16  Belgium 36,463  Mexico 38,929   Switzerland 275,755  Brazil 2,832 17  Iran 34,718  Spain 37,826  Belgium 275,474  Spain 2,491 18   Switzerland 33,296  Indonesia 32,402  Norway 258,209  Argentina 2,436 19  Australia 30,910  SaudiArabia 30,862  Denmark 231,685  Indonesia 2,075 20  Turkey 26,293  Korea 28,895  Pakistan 218,506  Sweden 2,075 Povertyreductionstrategies[edit] Forthepoorestdevelopingcountriesintheworld,thebank'sassistanceplansarebasedonpovertyreductionstrategies;bycombiningananalysisoflocalgroupswithananalysisofthecountry'sfinancialandeconomicsituationtheWorldBankdevelopsaplanpertainingtothecountryinquestion.Thegovernmentthenidentifiesthecountry'sprioritiesandtargetsforthereductionofpoverty,andtheWorldBankinstigatesitsaideffortscorrespondingly. Forty-fivecountriespledgedUS$25.1billionin"aidfortheworld'spoorestcountries",aidthatgoestotheWorldBankInternationalDevelopmentAssociation(IDA),whichdistributestheloanstoeightypoorercountries.Wealthiernationssometimesfundtheirownaidprojects,includingthosefordiseases.RobertB.Zoellick,theformerpresidentoftheWorldBank,saidwhentheloanswereannouncedon15December2007,thatIDAmoney"isthecorefundingthatthepoorestdevelopingcountriesrelyon".[50] WorldBankorganizestheDevelopmentMarketplaceAwards,agrantprogramthatsurfacesandfundsdevelopmentprojectswithpotentialfordevelopmentimpactthatarescalableand/orreplicable.Thegrantbeneficiariesaresocialenterpriseswithprojectsthataimtodeliversocialandpublicservicestogroupswiththelowestincomes. Globalpartnershipsandinitiatives[edit] TheWorldBankhasbeenassignedtemporarymanagementresponsibilityoftheCleanTechnologyFund(CTF),focusedonmakingrenewableenergycost-competitivewithcoal-firedpowerasquicklyaspossible,butthismaynotcontinueafterUN'sCopenhagenclimatechangeconferenceinDecember2009,becauseoftheBank'scontinuedinvestmentincoal-firedpowerplants.[51](InDecember2017,KimannouncedtheWorldBankwouldnolongerfinancefossilfueldevelopment.) TogetherwiththeWorldHealthOrganization,theWorldBankadministerstheInternationalHealthPartnership(IHP+).IHP+isagroupofpartnerscommittedtoimprovingthehealthofcitizensindevelopingcountries.Partnersworktogethertoputinternationalprinciplesforaideffectivenessanddevelopmentcooperationintopracticeinthehealthsector.IHP+mobilizesnationalgovernments,developmentagencies,civilsociety,andotherstosupportasingle,country-lednationalhealthstrategyinawell-coordinatedway. Climatechange[edit] WorldBankPresidentJimYongKimsaidin2012: A4-degreewarmerworldcan,andmustbe,avoided—weneedtoholdwarmingbelow2degrees ...Lackofactiononclimatechangethreatenstomaketheworldourchildreninheritacompletelydifferentworldthanwearelivingintoday.Climatechangeisoneofthesinglebiggestchallengesfacingdevelopment,andweneedtoassumethemoralresponsibilitytotakeactiononbehalfoffuturegenerations,especiallythepoorest.[52] AWorldBankreportintoclimatechangein2012notedthat(p.xiii)"evenwiththecurrentmitigationcommitmentsandpledgesfullyimplemented,thereisroughlya20percentlikelihoodofexceeding4 °Cby2100."Thisisdespitethefactthatthe"globalcommunityhascommitteditselftoholdingwarmingbelow2 °Ctoprevent'dangerous'climatechange".Furthermore,"aseriesofrecentextremeeventsworldwidehighlightthevulnerabilityofallcountries ...Nonationwillbeimmunetotheimpactsofclimatechange."[53] TheWorldBankdoubleditsaidforclimatechangeadaptationfrom$2.3bn(£1.47bn)in2011to$4.6bnin2012.Theplanetisnow0.8 °Cwarmerthaninpre-industrialtimes.Itsaysthat2 °Cwarmingwillbereachedin20to30years.[54][55] InDecember2017,KimannouncedtheWorldBankwouldnolongerfinancefossilfueldevelopment,[56][57]buta2019InternationalConsortiumofInvestigativeJournalistsarticlefoundthattheBankcontinues"tofinanceoilandgasexploration,pipelinesandrefineries,"that"thesefossilfuelinvestmentsmakeupagreatershareofthebank'scurrentenergylendingportfoliothanrenewableprojects,"andthattheBank"hasyettomeaningfullyshiftawayfromfossilfuels."[58] EUfinanceministersjoinedcivilsectorgroups,includingExtinctionRebellion,inNovember2019incallingforanendtoWorldBankfundingoffossilfuels.[59][60][61] In2021,theWorldBankofferedsupporttoKazakhstantohelpthecountryinitsmissionfordecarbonizationandcarbonneutrality.[62] Foodsecurity[edit] Mainarticle:Foodsecurity GlobalFoodSecurityProgram:LaunchedinApril2010,sixcountriesalongsidetheBillandMelindaGatesFoundationhavepledged$925millionforfoodsecurity.Todate,theprogramhashelpedeightcountries,promotingagriculture,research,tradeinagriculture,etc. LaunchedGlobalFoodCrisisResponseProgram:Givengrantstoapproximately40nationsforseeds,etc.forimprovingproductivity. Inprocessofincreasingitsyearlyspendingforagricultureto$6–8billionfromearlier$4billion. Runsvariousnutritionprogramsacrosstheworld,e.g.,vitaminAdosesforchildren,schoolmeals,etc.[63] Trainingwings[edit] GlobalOperationsKnowledgeManagementUnit[edit] TheWorldBankInstitute(WBI)wasa"globalconnectorofknowledge,learningandinnovationforpovertyreduction".Itaimedtoinspirechangeagentsandpreparethemwithessentialtoolsthatcanhelpachievedevelopmentresults. WBIhadfourmajorstrategiestoapproachdevelopmentproblems:innovationfordevelopment,knowledgeexchange,leadershipandcoalitionbuilding,andstructuredlearning.WorldBankInstitute(WBI)wasformerlyknownasEconomicDevelopmentInstitute(EDI),establishedon11March1955withthesupportoftheRockefellerandFordFoundations.Thepurposeoftheinstitutewastoprovideanopenplacewhereseniorofficialsfromdevelopingcountriescoulddiscussdevelopmentpoliciesandprograms.Overtheyears,EDIgrewsignificantlyandin2000,theinstitutewasrenamedastheWorldBankInstitute.SanjayPradhanisthepastVicePresidentoftheWorldBankInstitute.[64]Asof2019,WorldBankInstitutefunctionshavebeenmostlyencapsulatedbyanewunitGlobalOperationsKnowledgeManagementUnit(GOKMU),whichisnowresponsibleforknowledgemanagementandlearningacrosstheBank. GlobalDevelopmentLearningNetwork[edit] TheGlobalDevelopmentLearningNetwork(GDLN)isapartnershipofover120learningcenters(GDLNAffiliates)innearly80countriesaroundtheworld.GDLNAffiliatescollaborateinholdingeventsthatconnectpeopleacrosscountriesandregionsforlearninganddialogueondevelopmentissues. GDLNclientsaretypicallyNGOs,government,privatesector,anddevelopmentagencieswhofindthattheyworkbettertogetheronsubregional,regional,orglobaldevelopmentissuesusingthefacilitiesandtoolsofferedbyGDLNAffiliates.ClientsalsobenefitfromtheabilityofAffiliatestohelpthemchooseandapplythesetoolseffectivelyandtotapdevelopmentpractitionersandexpertsworldwide.GDLNAffiliatesfacilitatearound1000videoconference-basedactivitiesayearonbehalfoftheirclients,reachingsome90,000peopleworldwide.Mostoftheseactivitiesbringtogetherparticipantsintwoormorecountriesoveraseriesofsessions.AmajorityofGDLNactivitiesareorganizedbysmallgovernmentagenciesandNGOs. GDLNAsiaPacific[edit] TheGDLNintheEastAsiaandPacificregionhasexperiencedrapidgrowthandDistanceLearningCentersnowoperateorareplannedin20countries:Australia,Mongolia,Cambodia,China,Indonesia,Singapore,Philippines,SriLanka,Japan,PapuaNewGuinea,SouthKorea,Thailand,Laos,TimorLeste,Fiji,Afghanistan,Bangladesh,India,Nepal,andNewZealand.Withover180DistanceLearningCenters,itisthelargestdevelopmentlearningnetworkintheAsiaandPacificregion.TheSecretariatOfficeofGDLNAsiaPacificislocatedintheCenterofAcademicResourcesofChulalongkornUniversity,Bangkok,Thailand. GDLNAsiaPacificwaslaunchedattheGDLN'sEastAsiaandPacificregionalmeetingheldinBangkokfrom22to24May2006.Itsvisionistobecome"thepremiernetworkexchangingideas,experienceandknow-howacrosstheAsiaPacificRegion".GDLNAsiaPacificisaseparateentitytoTheWorldBank.IthasendorseditsownCharterandBusinessPlanand,inaccordancewiththeCharter,aGDLNAsiaPacificGoverningCommitteehasbeenappointed. ThecommitteecomprisesChina(2),Australia(1),Thailand(1),TheWorldBank(1),andfinally,anomineeoftheGovernmentofJapan(1).TheorganizationiscurrentlyhostedbyChulalongkornUniversityinBangkok,Thailand,afoundingmemberoftheGDLNAsiaPacific. TheGoverningCommitteehasdeterminedthatthemostappropriatelegalstatusfortheGDLNAPinThailandisa"Foundation".TheWorldBankisengagingasolicitorinThailandtoprocessalldocumentationinordertoobtainthisstatus. GDLNAsiaPacificisbuiltontheprincipleofsharedresourcesamongpartnersengagedinacommontask,andthisisvisibleintheorganizationalstructuresthatexist,asthenetworkevolves.PhysicalspaceforitsheadquartersisprovidedbythehostoftheGDLNCentreinThailand–ChulalongkornUniversity;TechnicalexpertiseandsomeinfrastructureisprovidedbytheTokyoDevelopmentLearningCentre(TDLC);FiduciaryservicesareprovidedbyAustralianNationalUniversity(ANU)UntiltheGDLNAsiaPacificisestablishedasalegalentityinThailand,ANU,hasofferedtoassistthegoverningcommittee,byprovidingameansofmanagingtheinflowandoutflowoffundsandofreportingonthem.Thisadmittedlyresultsinsomecomplexityincontractingarrangements,whichneedtobeworkedoutonacase-by-casebasisanddependstosomeextentonthelegalrequirementsofthecountriesinvolved. JUSTPALNetwork[edit] AJusticeSectorPeer-AssistedLearning(JUSTPAL)NetworkwaslaunchedinApril2011bythePovertyReductionandEconomicManagement(PREM)DepartmentoftheWorldBank'sEuropeandCentralAsia(ECA)Region.JUSTPAL'sobjectiveistoprovideanonlineandofflineplatformforjusticeprofessionalstoexchangeknowledge,goodpractices,andpeer-drivenimprovementstojusticesystemsandtherebysupportcountriestoimprovetheirjusticesectorperformance,qualityofjustice,andservicedeliverytocitizensandbusinesses. TheJUSTPALNetworkincludesrepresentativesofjudiciaries,ministriesofjustice,prosecutors,anti-corruptionagencies,andotherjustice-relatedentitiesfromacrosstheglobe.Ithasactivemembersfrommorethan50countries. Tofacilitatefruitfulexchangeofreformexperiencesandsharingofapplicablegoodpractices,JUSTPALhasorganizeditsactivitiesunderfiveCommunitiesofPractice(COPs):BudgetingfortheJusticeSector;InformationSystemsforJusticeServices;JusticeSectorPhysicalInfrastructure;CourtManagementandAdministration;andProsecutionandAnti-CorruptionAgencies. Countryassistancestrategies[edit] AsaguidelinetotheWorldBank'soperationsinanyparticularcountry,aCountryAssistanceStrategyisproducedincooperationwiththelocalgovernmentandanyinterestedstakeholdersandmayrelyonanalyticalworkperformedbytheBankorotherparties. CleanAirInitiative[edit] CleanAirInitiative(CAI)isaWorldBankinitiativetoadvanceinnovativewaystoimproveairqualityincitiesthroughpartnershipsinselectedregionsoftheworldbysharingknowledgeandexperiences.Itincludeselectricvehicles.[65]Initiativeslikethishelpaddressandtacklepollution-relateddiseases. UnitedNationsDevelopmentBusiness[edit] BasedonanagreementbetweentheUnitedNationsandtheWorldBankin1981,DevelopmentBusinessbecametheofficialsourceforWorldBankProcurementNotices,ContractAwards,andProjectApprovals.[66] In1998,theagreementwasrenegotiated,andincludedinthisagreementwasajointventuretocreateanonlineversionofthepublication.Today,DevelopmentBusinessistheprimarypublicationforallmajormultilateraldevelopmentbanks,U.N.agencies,andseveralnationalgovernments,manyofwhichhavemadethepublicationoftheirtendersandcontractsinDevelopmentBusinessamandatoryrequirement.[66] TheWorldBankortheWorldBankGroupisalsoasittingobserverintheUnitedNationsDevelopmentGroup.[67] Opendatainitiative[edit] TheWorldBankcollectsandprocesseslargeamountsofdataandgeneratesthemonthebasisofeconomicmodels.Thesedataandmodelshavegraduallybeenmadeavailabletothepublicinawaythatencouragesreuse,[68]whereastherecentpublicationsdescribingthemareavailableasopenaccessunderaCreativeCommonsAttributionLicense,forwhichthebankreceivedtheSPARCInnovator2012award.[69] TheWorldBankalsoendorsesthePrinciplesforDigitalDevelopment.[70] Grantstable[edit] Thefollowingtableliststhetop15DAC5DigitSectors[71]towhichtheWorldBankhascommittedfunding,asrecordedinitsInternationalAidTransparencyInitiative(IATI)publications.TheWorldBankstatesontheIATIRegistrywebsitethattheamounts"willcover100%ofIBRDandIDAdevelopmentflows"butwillnotcoverotherdevelopmentflows.[72] Committedfunding(US$millions) Sector Before2007 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Sum Roadtransport 4,654.2 1,993.5 1,501.8 5,550.3 4,032.3 2,603.7 3,852.5 2,883.6 3,081.7 3,922.6 723.7 34,799.8 Social/welfareservices 613.1 208.1 185.5 2,878.4 1,477.4 1,493.2 1,498.5 2,592.6 2,745.4 1,537.7 73.6 15,303.5 Electricaltransmission/distribution 1,292.5 862.1 1,740.2 2,435.4 1,465.1 907.7 1,614.9 395.7 2,457.1 1,632.2 374.8 15,177.8 Publicfinancemanagement 334.2 223.1 499.7 129.0 455.3 346.6 3,156.8 2,724.0 3,160.5 2,438.9 690.5 14,158.6 Railtransport 279.3 284.4 1,289.0 912.2 892.5 1,487.4 841.8 740.6 1,964.9 1,172.2 −1.6 9,862.5 Ruraldevelopment 335.4 237.5 382.8 616.7 2,317.4 972.0 944.0 177.8 380.9 1,090.3 −2.5 7,452.4 Urbandevelopmentandmanagement 261.2 375.9 733.3 739.6 542.1 1,308.1 914.3 258.9 747.3 1,122.1 212.2 7,214.9 Businesssupportservicesandinstitutions 113.3 20.8 721.7 181.4 363.3 514.0 310.0 760.1 1,281.9 1,996.0 491.3 6,753.7 Energypolicyandadministrativemanagement 102.5 243.0 324.9 234.2 762.0 654.9 902.1 480.5 1,594.2 1,001.8 347.9 6,648.0 Agriculturalwaterresources 733.2 749.5 84.6 251.8 780.6 819.5 618.3 1,040.3 1,214.8 824.0 −105.8 7,011.0 Decentralisationandsupporttosubnationalgovernment 904.5 107.9 176.1 206.7 331.2 852.8 880.6 466.8 1,417.0 432.5 821.3 6,597.3 Disasterpreventionandpreparedness 66.9 2.7 260.0 9.0 417.2 609.5 852.9 373.5 1,267.8 1,759.7 114.2 5,733.5 Sanitation-largesystems 441.9 679.7 521.6 422.0 613.1 1,209.4 268.0 55.4 890.6 900.8 93.9 6,096.3 Watersupply-largesystems 646.5 438.1 298.3 486.5 845.1 640.2 469.0 250.5 1,332.4 609.9 224.7 6,241.3 Healthpolicyandadministrativemanagement 661.3 54.8 285.8 673.8 1,581.4 799.3 251.5 426.3 154.8 368.1 496.0 5,753.1 Other 13,162.7 6,588.3 8,707.1 11,425.7 17,099.5 11,096.6 16,873.4 13,967.1 20,057.6 21,096.5 3,070.3 140,074.5 Total 24,602.6 13,069.4 17,712.6 27,152.6 33,975.6 26,314.8 34,248.6 27,593.9 43,748.8 41,905.2 7,624.5 297,948.5 OpenKnowledgeRepository[edit] Mainarticle:OpenKnowledgeRepository TheWorldBankhoststheOpenKnowledgeRepository(OKR)[73]asanofficialopenaccessrepositoryforitsresearchoutputsandknowledgeproducts.TheWorldBank'srepositoryislistedintheRegistryofResearchDataRepositoriesre3data.org.[74] Criticismsandcontroversy[edit] TheWorldBankhaslongbeencriticizedbynon-governmentalorganizations,suchastheindigenousrightsgroupSurvivalInternational,andacademics,includingHenryHazlitt,LudwigVonMises,anditsformerChiefEconomistJosephStiglitz.[75][76][77]HazlittarguedthattheWorldBankalongwiththemonetarysystemitwasdesignedwithinwouldpromoteworldinflationand"aworldinwhichinternationaltradeisState-dominated"whentheywerebeingadvocated.[78]StiglitzarguedthatthefreemarketreformpoliciesthattheBankadvocatesareoftenharmfultoeconomicdevelopmentifimplementedbadly,tooquickly("shocktherapy"),inthewrongsequenceorinweak,uncompetitiveeconomies.[76][79] OneofthemostcommoncriticismsoftheWorldBankhasbeenthewayitisgoverned.WhiletheWorldBankrepresents188countries,itisrunbyasmallnumberofeconomicallypowerfulcountries.Thesecountries(whichalsoprovidemostoftheinstitution'sfunding)choosetheBank'sleadershipandseniormanagement,andtheirinterestsdominate.[80]: 190 TitusAlexanderarguesthattheunequalvotingpowerofwesterncountriesandtheWorldBank'sroleindevelopingcountriesmakesitsimilartotheSouthAfricanDevelopmentBankunderapartheid,andthereforeapillarofglobalapartheid.[81]: 133–141  Inthe1990s,theWorldBankandtheIMFforgedtheWashingtonConsensus,policiesthatincludedderegulationandliberalizationofmarkets,privatizationandthedownscalingofgovernment.ThoughtheWashingtonConsensuswasconceivedasapolicythatwouldbestpromotedevelopment,itwascriticizedforignoringequity,employment,andhowreformslikeprivatizationwerecarriedout.StiglitzarguedthattheWashingtonConsensusplacedtoomuchemphasisonGDPgrowthandnotenoughonthepermanenceofgrowthoronwhethergrowthcontributedtobetterlivingstandards.[77]: 17  TheUnitedStatesSenateCommitteeonForeignRelationsreportcriticizedtheWorldBankandotherinternationalfinancialinstitutionsforfocusingtoomuch"onissuingloansratherthanonachievingconcretedevelopmentresultswithinafiniteperiodoftime"andcalledontheinstitutionto"strengthenanti-corruptionefforts".[82] JamesFergusonhasarguedthatthemaineffectofmanydevelopmentprojectscarriedoutbytheWorldBankandsimilarorganizationsisnotthealleviationofpoverty.Instead,theprojectsoftenservetoexpandtheexerciseofbureaucraticstatepower.HiscasestudiesofdevelopmentprojectsinThaba-TsekashowthattheWorldBank'scharacterizationoftheeconomicconditionsinLesothowasflawed,andtheBankignoredthepoliticalandculturalcharacterofthestateincraftingitsprojects.Asaresult,theprojectsfailedtohelpthepoorbutsucceededinexpandingthegovernmentbureaucracy.[83] CriticismoftheWorldBankandotherorganizationsoftentakestheformofprotesting,suchastheWorldBankOslo2002Protests,[84]the2007OctoberRebellion,[85]andthe1999BattleofSeattle.[86]Suchdemonstrationshaveoccurredallovertheworld,evenamongtheBrazilianKayapopeople.[87] AnothersourceofcriticismhasbeenthetraditionofhavinganAmericanheadthebank,implementedbecausetheUnitedStatesprovidesthemajorityofWorldBankfunding."WheneconomistsfromtheWorldBankvisitpoorcountriestodispensecashandadvice,"observedTheEconomistin2012,"theyroutinelytellgovernmentstorejectcronyismandfilleachimportantjobwiththebestcandidateavailable.Itisgoodadvice.TheWorldBankshouldtakeit."[88] In2021,anindependentinquiryoftheWorldBank'sDoingBusinessreportsbythelawfirmWilmerHalefoundthatWorldBankleaders,includingthen-ChiefExecutiveKristalinaGeorgievaandthen-PresidentJimYongKim,[89]pressuredstaffmembersofthebanktoalterdatatoinflatetherankingsforChina,SaudiArabia,AzerbaijanandtheUnitedArabEmirates.[90][91] Structuraladjustment[edit] TheeffectofstructuraladjustmentpoliciesonpoorcountrieshasbeenoneofthemostsignificantcriticismsoftheWorldBank.[92]The1979energycrisisplungedmanycountriesintoeconomiccrisis.[93]: 68 TheWorldBankrespondedwithstructuraladjustmentloans,whichdistributedaidtostrugglingcountrieswhileenforcingpolicychangesinordertoreduceinflationandfiscalimbalance.Someofthesepoliciesincludedencouragingproduction,investmentandlabour-intensivemanufacturing,changingrealexchangerates,andalteringthedistributionofgovernmentresources.Structuraladjustmentpoliciesweremosteffectiveincountrieswithaninstitutionalframeworkthatallowedthesepoliciestobeimplementedeasily.Forsomecountries,particularlyinSub-SaharanAfrica,economicgrowthregressedandinflationworsened. Bythelate1980s,someinternationalorganizationsbegantobelievethatstructuraladjustmentpolicieswereworseninglifefortheworld'spoor,duetoareductioninsocialspendingandanincreaseinthepriceoffood,assubsidieswerelifted.TheWorldBankchangedstructuraladjustmentloans,allowingforsocialspendingtobemaintained,andencouragingaslowerchangetopoliciessuchastransferofsubsidiesandpricerises.[93]: 70 In1999,theWorldBankandtheIMFintroducedthePovertyReductionStrategyPaperapproachtoreplacestructuraladjustmentloans.[94]: 147  Fairnessofassistanceconditions[edit] Somecritics,[95]mostprominentlytheauthorNaomiKlein,areoftheopinionthattheWorldBankGroup'sloansandaidhaveunfairconditionsattachedtothemthatreflecttheinterests,financialpowerandpoliticaldoctrines(notablytheWashingtonConsensus)oftheBankand,byextension,thecountriesthataremostinfluentialwithinit.Amongotherallegations,KleinsaystheGroup'scredibilitywasdamaged"whenitforcedschoolfeesonstudentsinGhanainexchangeforaloan;whenitdemandedthatTanzaniaprivatiseitswatersystem;whenitmadetelecomprivatisationaconditionofaidforHurricaneMitch;whenitdemandedlabour'flexibility'inSriLankaintheaftermathoftheAsiantsunami;whenitpushedforeliminatingfoodsubsidiesinpost-invasionIraq".[96] Astudyoftheperiod1970-2004foundthataless-developedcountrywouldonaveragereceivemoreWorldBankprojectsduringanyperiodwhenitoccupiedoneoftherotatingseatsontheUNSecurityCouncil.[97] Sovereignimmunity[edit] TheWorldBankrequiressovereignimmunityfromcountriesitdealswith.[98][99][100]Sovereignimmunitywaivesaholderfromalllegalliabilityfortheiractions.Itisproposedthatthisimmunityfromresponsibilityisa"shieldwhichTheWorldBankwantstoresortto,forescapingaccountabilityandsecuritybythepeople".[98]AstheUnitedStateshasvetopower,itcanpreventtheWorldBankfromtakingactionagainstitsinterests.[98] PricewaterhouseCoopers[edit] WorldBankfavoredPricewaterhouseCoopersasaconsultantinabidforprivatizingthewaterdistributioninDelhi,India.[101] COVID-19[edit] TheWorldBankhasbeencriticizedfortheslowresponseofitsPandemicEmergencyFinancingFacility(PEF),afundthatwascreatedtoprovidemoneytohelpmanagepandemicoutbreaks.ThetermsofthePEF,whichisfinancedbybondssoldtoprivateinvestors,preventanymoneyfrombeingreleasedfromthefunduntil12weeksaftertheoutbreakwasinitiallydetected(23March).TheCOVID-19pandemicmetallotherrequirementsforthefundingtobereleasedinJanuary2020.[102] CriticshavearguedthatthetermsofthePEFaretoostringent,andthe12-weekdelaymeansthatthefundingwillbemuchlesseffectivethanifitwasreleasedtoassistgovernmentsininitiallycontainingtheoutbreak.Theyarguethatthefundprioritizestheinterestsoftheprivatebondholdersoverpublichealth.[103] Seealso[edit] Banksportal Businessportal CleanEnergyforDevelopmentInvestmentFramework DemocracyIndex EnergySectorManagementAssistanceProgram(ESMAP) InternationalFinanceCorporation NewDevelopmentBank References[edit] ^"AbouttheWorldBank".worldbank.org. ^abchttps://www.worldbank.org/en/about/leadership/members"MemberCountries".Retrievedon2January2022. ^"DavidMalpass,aUSTreasuryofficialandDonaldTrump'spick,appointedWorldBankpresident".scroll.in.Retrieved6April2019. ^"WorldBankGroupLeadership".WorldBank.Retrieved2August2018. ^"AboutUs".WorldBank.14October2008.Retrieved13June2019. ^"TheFoundingFathers".InternationalMonetaryFund.Archivedfromtheoriginalon22August2017.Retrieved11August2012. 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^Stiglitz,JosephE.(2003).TheRoaringNineties:ANewHistoryoftheWorld'sMostProsperousDecade.NewYork,NY:W.W.Norton&Company.ISBN 978-0-393-05852-9. ^abStiglitz,JosephE.(2003).GlobalizationandItsDiscontents.NewYork,NY:W.W.Norton&Company.ISBN 978-0-393-32439-6. ^abStiglitz,JosephE.(2007).MakingGlobalizationWork.NewYork,NY:W.W.Norton&Company.ISBN 978-0-393-33028-1. ^Hazlitt,Henry(1984).FromBrettonWoodstoWorldInflation:AStudyoftheCausesandConsequences.Washington,D.C.:RegneryPublishing.ISBN 978-0-89526-617-0. ^Schneider,Jane(2002)."WorldMarkets:AnthropologicalPerspectives".InMacClancy,Jeremy(ed.).ExoticNoMore:AnthropologyontheFrontLines.Chicago,IL:UniversityofChicagoPress.ISBN 978-0-226-50013-3. ^Woods,Ngaire(2007).TheGlobalizers:TheIMF,theWorldBank,andTheirBorrowers.Ithaca,NY:CornellUniversityPress.ISBN 978-0-8014-7420-0. ^Alexander,Titus(1996).UnravellingGlobalApartheid:AnOverviewofWorldPolitics.Cambridge,UK:Polity.ISBN 978-0-7456-1352-9. 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^"Inquiryputsex-WorldBankofficialsunderscrutinyonChina".APNews.17September202. ^"ProbefindsWorldBankchangeddatatoboostChinaranking".Al-Jazeera.17September2021. ^"InvestigationfindsWorldBankleaderspushedstafferstoboostrankingsforChinaandSaudiArabiainhigh-profilereports".CNN.17September2021. ^Graeber,David(2009).DirectAction:AnEthnography.AKPress.pp. 442–443.ISBN 978-1-904859-79-6. ^abdeVries,BarendA.(1996)."TheWorldBank'sFocusonPoverty".InGriesgraber,JoMarie;Gunter,BernhardG.(eds.).TheWorldBank:LendingonaGlobalScale.London,UK:PlutoPress.ISBN 978-0-7453-1049-7. ^Tan,Celine(2007)."Thepovertyofamnesia:PRSPsinthelegacyofstructuraladjustment".InStone,Diane;Wright,Christopher(eds.).TheWorldBankandGovernance:ADecadeofReformandReaction.NewYork,NY:Routledge.ISBN 978-0-415-41282-7. ^Hardstaff,Peter(2003)."Treacherousconditions:HowIMFandWorldBankpoliciestiedtodebtreliefareunderminingdevelopment"(PDF).WorldDevelopmentMovement.Retrieved12May2013. ^Klein,Naomi(27April2007)."TheWorldBankhastheperfectstandardbearer".TheGuardian.Retrieved12May2013. ^Dreher,Axel;Sturm,Jan-Egbert;Vreeland,JamesRaymond(1January2009)."Developmentaidandinternationalpolitics:DoesmembershipontheUNSecurityCouncilinfluenceWorldBankdecisions?".JournalofDevelopmentEconomics.88(1):1–18.doi:10.1016/j.jdeveco.2008.02.003.hdl:10419/50418.ISSN 0304-3878. ^abcIFIWatch(2004)."TheWorldBankandtheQuestionofImmunity"(PDF).IFIWatch–Bangladesh.1(1):1–10.Archivedfromtheoriginal(PDF)on8November2004.Retrieved4September2004. ^WorldBank(2007).SovereignImmunity(PDF)(Report).WorldBankGroup.Retrieved20August2012. ^Hasson,AdamIsaac(2002)."ExtraterritorialJurisdictionandSovereignImmunityonTrial:Noriega,Pinochet,andMilosevic–TrendsinPoliticalAccountabilityandTransnationalCriminalLaw".BostonCollegeInternationalandComparativeLawReview.25(1):125–158.Retrieved25April2012. ^"WBchannelsDelhiwaterforPWC".TheTimesofIndia. ^GrossA(25February2020)."WorldBank'spandemicbondssinkascoronavirusspreads".FinancialTimes.Retrieved4March2020. ^SeibtS(26February2020)."'Useless'pandemicbondsofferlittlehopefordealingwithcoronavirus".France24.Retrieved4March2020. Furtherreading[edit] LibraryresourcesaboutWorldBank Resourcesinyourlibrary Resourcesinotherlibraries Ascher,W."Newdevelopmentapproachesandtheadaptabilityofinternationalagencies:thecaseoftheWorldBank"InternationalOrganization1983.37,415–439. Bazbauers,AdrianRobert.TheWorldBankandTransferringDevelopment(Springer,2018). Bergsen,H.,Lunde,L.,DinosaursorDynamos?TheUnitedNationsandtheWorldBankattheTurnoftheCentury.(Earthscan,London,1999). Bilbert,C.,andC.Vines,eds.TheWorldBank:StructuresandPolicies(CambridgeUP,2000) Brown,MichaelBarratt.Africa'schoices:afterthirtyyearsoftheWorldBank(Routledge,2019). Davis,Gloria.AhistoryofthesocialdevelopmentnetworkinTheWorldBank,1973-2003(TheWorldBank,2004). Heldt,EugéniaC.,andHenningSchmidtke."Explainingcoherenceininternationalregimecomplexes:HowtheWorldBankshapesthefieldofmultilateraldevelopmentfinance."ReviewofInternationalPoliticalEconomy(2019):1-27.online Heyneman,StephenP."ThehistoryandproblemsinthemakingofeducationpolicyattheWorldBank,1960–2000."InternationalJournalofEducationalDevelopment23(2003)315–337online Hurni,BettinaS.TheLendingPolicyOfTheWorldBankInThe1970s(1980) Mason,EdwardS.,andRobertE.Asher.TheworldbanksinceBrettonWoods(BrookingsInstitutionPress,2010). Pereira,JoãoMárcioMendes."TheWorldBankasapolitical,intellectual,andfinancialactor(1944-1994)."RelacionesInternacionales26.52(2017):onlineinEnglish Pereira,JoãoMárcioMendes."AssaultingPoverty:PoliticsandEconomicDoctrineintheHistoryoftheWorldBank(1944-2014)."RevistaDeHistória174(2016):235–265.online Polak,JacquesJ.,andJamesM.Boughton."TheWorldBankandtheInternationalMonetaryFund:AChangingRelationship."inEconomicTheoryandFinancialPolicy(Routledge,2016)pp.92–146. Salda,AnneC.M.,ed.HistoricaldictionaryoftheWorldBank(1997) Weaver,Catherine.2008.HypocrisyTrap:TheWorldBankandthePovertyofReform.PrincetonUniversityPress. Woods,Ngaire.Theglobalizers:theIMF,theWorldBank,andtheirborrowers(CornellUP,2014). WorldBank.AGuidetotheWorldBank(2nded.2007)online Externallinks[edit] WikimediaCommonshasmediarelatedtoWorldBank. 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