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A global connector of knowledge, learning and innovation for poverty reduction with a focus on how to reform. Created to help reduce poverty and support reconstruction of developing countries Headquarters based in Washington, D.C.
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1. International Back for Reconstruction Development (IBRD) 2. International Development Association (IDA) 3. International Finance Corporation (IFC) 4. Multilateral Investment Guarantee Agency (MIGA) 5. International Centre for Settlement of Investment Disputes (ICSID)
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Known as IBRD Tends to governments of middle-income and creditworthy low-income countries 188 member nations
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Shortened to IDA provides interest-free loans—called credits—and grants to governments of the poorest countries 172 members nations
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Largest global development institution focused exclusively on private sector Help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. 184 members nations
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Created in 1988 Promotes foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. Fulfills this mandate by offering political risk insurance to investors and lenders. 179 members nations
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Provides facilities for conciliation and arbitration of investment disputes 142 members
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Provides area of support for newly developing countries by open knowledge (how to reform), collaborative governance (mobilize for collaborative action), innovative solutions (overcome struggles in development) Provide technical and financial support Reducing poverty is still a long-term goal to reach
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A constitution, it is a compilation of 11 articles. Agreement if from Internation Back of Reconstruction Development (IBRD) but accounts for World Bank Institute as well 1. Help in reconstruction and development of members 2. Promotes private foreign investment and agreement in loans 3. Encourage long-reaching growth of international trade like NAFTA but internationally trade with membership countries 4. Guaranteed to international loans through useful projects, on large or small scale, but most important issue comes first
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Expanded from one institute into a collaboration of five development institutions Created in 1944, 69 years old Drastic increase in assistance of social media and media in general Focus changes from financial support to access of world knowledge and transparency of government and accountability
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Total of 188 members Islamic Republic of Iran: December 29, 1945 Mexico: December 31, 1945 Nigeria: March 30, 1961 United Kingdom: December 27, 1945 Russia: not in the World Bank China: December 27, 1945 Also collaborates with the United Nations in areas such as fragile states, climate change, and human development.
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First President was Eugene Meyer Current President: Jim Yong Kim (12 th president) Elected by Board of Governors with a 5 year, renewable term Board of Governors: ultimate policymakers, ministers of finance 25 Executive Directors: work on-site, meet twice a week to oversee the Bank’s business (approval of loans, new policies etc)
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Encourages co-financing Improves private sector Participation on tariffs Access to capital markets for private sector Lower cost of financing Improve project sustainability Reduce risk of private transaction in emerging countries
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accused of not involving communities in decision-making assumes that benefits will help the poor rather than the rich and powerful accused of paying little attention to rural poverty
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Iran: Northern Cities Water Supply and Sanitation Project China: Hunan Forest Restoration and Development Project Mexico: Sustainable Rural Development Additional Financing Russia: Microfinance Development Project Nigeria: NG-Polio Eradication Support United Kingdom: Shareholder of World Bank. The Department of External Affairs of the World Bank manages day-to-day relations with British Constituencies, including government, parliamentarians, private sector, civil society, academics, and media.
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"Resources." News & Broadcast. The World Bank Group, 2013. Web. 20 Mar. 2013. Vidal, John. "World Bank Spending on Forests Fails to Curb Poverty, Auditors Claim." The Guardian. Guardian News and Media, 29 Jan. 2013. Web. 20 Mar. 2013. "Bad Samaritans." Multinational Monitor. Corporate Accountability Research, Oct. 2008. Web. 20 Mar. 2013. "Site Tools." About Us. The World Bank Group, n.d. Web. 20 Mar. 2013.. "Microfinance Development Project." The World Bank. The World Bank Group, n.d. Web. 21 Mar. 2013..
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"United Kingdom and the World Bank." The World Bank. The World Bank Group, n.d. Web. 20 Mar. 2013.. "Projects & Operations." The World Bank. The World Bank Group, n.d. Web. 21 Mar. 2013.. "Hunan Forest Restoration and Development Project." The World Bank. The World Bank Group, n.d. Web. 21 Mar. 2013.. “Sustainable Rural Development.“ The World Bank. The World Bank Group, n.d. Web. 21 Mar. 2013.. "NG-Polio Eradication Support (FY13)." The World Bank. The World Bank Group, n.d. Web. 21 Mar. 2013..
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