In Washington (D.C.) (the USA) settled group of World Banks had originally the purpose to finance the reconstruction of the states devastated by the Second World War. It covers the following five organizations, which possess their own juridical personality in each case:

• International bank for reconstruction and development (international bank for Reconstruction and development - IBRD)
• International development organization (international development Association - IDA)
• International financial corporation (international Finance corporation - IFC)
• Multilateral investment warranty agency (multilateral Investment Guarantee Agency - MIGA)
• International center for the settlement of investment disputes (international centers for Settlement OF Investment of dispute - ICSID)

The group of World Banks is connected by administrative entwinements and by a common president (in the case of the ICSID as a chairman of the board of directors).

The term "World Bank" (in the Ggs. to "group of World Banks") only both first of the five aforementioned above organizations cover.

Common task of core

The common task of core of these institutions is in such a way to contribute above all the economic development of less developed member countries by financial assistance for promoting by consultation and technical aid and for the conversion of the international development targets (to help to reduce the portion poor in the population of world up to the year 2015 by half). They serve also as catalyst for the support through third. This is done primarily via the assignment from long-term loans to marketnear conditions (IBRD) and/or long-term credits free of interest and (IDA) for investment projects, comprehensive reform programs and technical aid, increasingly also with the promotion of the private-economical development with the participation in companies (IFC) and with the assumption of warranties (MIGA).

1974 inserted the boards of governors of the World Bank and the IWF when desired the developing countries a common Minister committee over the transfer of financial resources into developing countries - the development Committee (DC). DC has 24 members, that represent the entire membership of the group of World Banks and the IWF, and meets twice in the year. Its task is it to advise the boards of governors of the bank and the IWF over important development questions and over resources necessary for the economic and social development in the developing countries. In the course of the time DC included also questions of the trade and global environmental protection into its consultation.

The World Bank publishes annually the world development report (World development report), which is dedicated to a spreading and topic important for the current development discussion in each case. It summarizes the discussion conditions in its detailed analyses not only, but gives above all also crucial impacts and gets the international debate going over development around important steps. Further central of World Bank reports "global the Economic Prospects is", "global development Finance" and "Doing Business".

The private second gate development (PSD) is a strategy of the World Bank to in front drive the privatisation in developing countries it is valid for all parts of the World Bank, and all other strategies must be co-ordinated with PSD. Also the assignment of credits is attached to fundamental reforms in the sense of the PSD, which private production of infrastructure are are promoted: one argues the fact that the public hand prefers public enterprises and prevents a competition (see structural adjustment programs).

Criticism

The promotional practice of the World Bank is often attacked by environmental protection organizations and globalization-critical groups. Large-scale projects were too often promoted such as dams or pipelines, the devastating environmental damage and disadvantages for the residents population to the consequence would have and rather companies from the industrialized countries as well as the elite in the developing countries served as really the development to promote.

The being correct rights are distributed after portion property, with the IBRD (IFC) e.g. so:

• The USA 16.39% (23.68%)
• Japan 7.87% (5.88%)
• Germany 4.49% (5.37%)
• France 4.3% (5.04%)
• Great Britain 4.3% (5.04%) (excerpt, conditions 7 September 2004)

Past presidents of the group of World Banks

Literature

• Axel turner, the granting of credit of IWF and World Bank: Causes and effects from political-economic view, 2003, wvb Berlin, ISBN 3936846545

See also

• Portal: United Nations
• International Monetary Fund (IWF)
• Development bank
• becomes green revolution
• Bretton Woods system
• Neoliberalismus
• Mars resounding plan

Related links

• Homepage of the group of World Banks English, German, Spanish, French, Arab
• "World Bank is an international agenda Setter" (interview with Dirk Messner, managing director of the institute for development policy in Bonn - DLF, 20. March 2005)

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