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The World Bank, the abbreviation of the World Bank Group, the International Bank for Reconstruction and Development, is also a common name
The United Nations
A specialized agency.
The World Bank was founded in 1945 and opened for business in June 1946 by the International Bank for Reconstruction and Development,
International Development Association
,
International finance corporation
,
Multilateral Investment Guarantee Agency
and
International Center for Settlement of Investment Disputes
Five member institutions.
In March 2022, the World Bank decided to suspend its operations in
Russia
and
Belarus
All of the items.
[25]
On May 18, 2022 local time,
United States Treasury
In a report on
Food security
The plan's report says the World Bank will provide $30 billion to deal with the food security crisis caused by the Russia-Ukraine conflict. The $30 billion fund includes $12 billion for new projects and another $18 billion for food-related projects that have been approved but not yet implemented.
[32]
On June 2, 2023,
The new president of the World Bank is Ajay Banga, an IndiAn-American.
Banga Jie
Take office
[41]
.
- Chinese name
- World Bank
- Foreign name
- The World Bank
- Establishment time
- December 27, 1945
- nature
- One of the three major international financial institutions
- Head office
- America Washington
- Incumbent governor
- Ajay Banga
- Total membership
- 189 countries [1]
- Place of establishment
- America New Hampshire The Bretton Woods
- Establishment document
- " International Bank for Reconstruction and Development Agreement "
- Main business
- Loan projects, non-loan assistance
- Member of the Executive Board
- Including the president of the World Bank and 25 executive directors
- Official website
- http://www.worldbank.org/
- cause
- assist Developing country Eliminate poverty and promote sustainable development.
catalogue
- 1Development course
- 2Purpose and objective
- ▪aim
- ▪Purpose and principle
- ▪Main objective
- 3Organizational structure
- ▪Board of governors
- ▪Council duties
- ▪Executive board
- ▪leadership
- ▪Decision-making level
- 4Organization operation
- ▪summarize
- ▪Five institutions
- ▪Administrative department
- ▪Regional sector
- ▪Interdepartmental office
- 5Main business
World Bank
On June 25, 1946, the World Bank began operations, and on May 9, 1947, it approved its first loan, a $250 million loan to France, which remains the largest loan ever made by the World Bank.
World Bank International Bank for Reconstruction and Development
On May 15, 1980, China resumed its representation and membership in the World Bank
[38]
It received its first loan from the World Bank the following year.
In the 1980s, the banks faced
macroeconomy
And debt problems; In the following decade, society and
Environmental problem
presumptive
Center stage
And more and more
Civil society
Accused the bank of not following its own policies on some projects.
Aim at
Banking business
Shortly after the release of the report on quality issues, reform steps were examined, including an investigation team on
Bank claim
The creation of... However, criticism continued to grow in 1994
Madrid
The annual meeting period culminates.
Since then, the banking group has come a long way. The five agencies work independently while collaborating with each other to gradually improve internal and external efficiency. Customer reports are with changes to the bank
Service level
To see their commitment, delivery and quality are generally satisfied.
Banks play a bigger role on the global policy stage than ever before. It has effectively engaged in post-conflict work with partners and customers in complex emergencies
Bosnia
Post-east Asia Crisis Assistance Center clean-up after U.S. hurricanes, in
Earthquake in Turkey
After the support and in
Kosovo
and
East Timor
.
On April 25, 2010, the Spring meeting of the Development Committee of the World Bank adopted a reform plan to transfer voting rights from developed countries to developing countries. This reform increased China's voting rights in the World Bank from 2.77% to 4.42%, becoming the third largest shareholder of the World Bank, next to the United States and Japan. In South Korea, it will rise from 1% to 1.6%.
[2]
Since its founding in 1945, the World Bank has grown from a single institution to a closely knit group of five development institutions. The Bank's mission has evolved from promoting post-war reconstruction and development through the International Bank for Reconstruction and Development to advancing it in close coordination with its subsidiary, the International Development Association, and other member institutions
Countries of the world
Poverty reduction. Other World Bank member institutions include
International finance corporation
(
IFC
),
Multilateral Investment Guarantee Agency
(MIGA) and
International Center for Settlement of Investment Disputes
(
ICSID
).
Reconstruction remains an important part of the Bank's work by achieving
containment
Poverty reduction and sustainable globalization remain the top goals of the Bank's work.
On 11 January 2016, the World Bank announced the appointment
Yang Shaolin
He was the first Executive Vice President of the World Bank
Chief administrative officer
In charge of the World Bank's institutional strategy, budget,
Risk management
,
Incorrupt government
, staff
Professional ethics
, information technology and other businesses.
President of the World Bank, 18 July 2016
Jim Yong Kim
Announced, American economist
Paul Romer
Will take over
Kaushik Basu
Serve as the World Bank
Chief economist
And Senior Vice President.
[3]
On January 7, 2019, the then President of the World Bank, Jim Yong Kim, announced that he would step down early on February 1.
On December 15, 2021, the World Bank announced that it will provide $93 billion in financial support to the world's poorest countries to help them meet global challenges and achieve
Economic recovery
.
[23]
In February 2022, the World Bank plans to launch a $157 billion epidemic control, economic and social recovery program, the largest ever, to address the severe adverse impact of the pandemic on developing countries.
[24]
On March 7, 2022 local time, the World Bank announced that it had agreed to provide financial assistance
Ukraine
More than $700 million in loans to help the Ukrainian government pay salaries for health care workers and the elderly
pension
Etc.
Social welfare
.
[26]
On March 29, 2022 local time, the World Bank announced that it would provide financial assistance
Tunisia
$400 million to help 900,000 Tunisian families fight
COVID-19 pandemic
The health and economic impact. The World Bank says the money will go to Tunisia
Low-income family
Provide cash and help improve the country's social security system.
[27]
On April 22, 2022, after concluding negotiations with the World Bank,
Lebanon
Minister of economy and trade
Amin Salam
Signing the report requires the Lebanese government to draft a law to accept a $150 million emergency loan from the World Bank to import wheat.
[29]
Local time on April 26, 2022, according to sources
Sri Lanka
According to the Presidential Press Office, the World Bank has agreed to provide $600 million to Sri Lanka
Financial aid
To cope with the current
Economic crisis
.
[30]
In May 2022, the World Bank announced that in the fall of 2022, the Bank would switch to 2017
Purchasing power parity
(PPP) Calculate Global Poverty data, New Global
Poverty line
From $1.90 to $2.15.
[31]
On June 13, 2022 local time, the Food and Agriculture Organization of the United Nations said that the World Bank announced a contribution of $150 million
Afghanistan
Rural population
Provide assistance. The FAO says the funds will help local farmers increase wheat production in Afghanistan, supporting about 2.1 million people. In addition, funds will be used to support and improve local agriculture
Irrigation system
and
Water conservancy facilities
.
The $150m is the first tranche of about $195m in aid, with another $45m to be disbursed over the next 24 months, according to the FAO.
[34]
On June 16, 2022 local time, the World Bank announced that it will provide more resources to the world over the next 12 months
Somalia
$100 million to address government priorities.
[35]
On June 23, 2022, the World Bank said it had approved three loans worth a total of $562 million for India
Gujarat
An educational program,
Tamil Nadu
One of
Social security program
And a program to help the fisheries sector.
[36]
On June 28, 2022,
World Bank Executive Board
Approved a $500 million loan to support
Egypt
the
Food security
. The project will import wheat for Egypt
Public procurement
Funding, equivalent to about 70 million low-income Egyptians
Bread
The subsidy program provides a month's supply.
[37]
On December 20, 2022, the World Bank approved an agreement
Cambodia
To provide US $274 million in loans to support Cambodia's economic recovery and enhance its resilience.
[39]
On March 22, 2024, the World Bank approved $149.7 million in financing for Pakistan to strengthen its digital economy and dam upgrading projects in Sindh province.
[43]
On March 28, 2024, the World Bank approved a new $300 million loan to help protect the ecosystem of the Yellow River Basin in China.
[44]
On April 1, 2024, the World Bank said it had approved a $750 million loan to Colombia to help the country become more resilient in the face of climate change by promoting renewable energy development and reducing carbon emissions.
[45]
On June 11, 2024, the World Bank raised its forecast for global GDP growth in 2024 from 2.4% to 2.6%. Raised its forecast for US GDP growth from 1.6% to 2.5%. Cut its 2024 growth forecast for Africa and the Middle East.
[46]
Its purpose is to provide loans and investment to member countries and promote the balanced development of international trade.
World Bank logo
(a) To assist in the economic rehabilitation and construction of member countries through investment in productive undertakings, and to encourage the exploitation of resources in underdeveloped countries;
(2) by guaranteeing or participating in private loans and others
Private investment
Ways to promote private outward investment. When member states are not available on reasonable terms
Private capital
When the line can be used
Own capital
Or raise funds to supplement the shortfall in private investment;
(3) Encourage international investment and assist member states to improve their performance
Productive capacity
Promote the balanced development and development of international trade among member states
Balance of payments
An improvement in condition;
(4) In providing loan guarantees, should be in conjunction with other parties
International loan
Cooperate.
When the World Bank was founded, it was mainly about financing
Western Europe
The country recovered its economy, which had been damaged by the war, but after 1948, European countries began to rely mainly on the United States.
Marshall Plan
To restore the post-war economy, the World Bank turned mainly to the developing world
Medium and long-term loans
With investment, promotion
Economies of developing countries
and
Social development
.
The World Bank is working to close this gap, translating resources from rich countries into economic growth in poor countries. As the world offers
Development assistance
One of the largest institutions supported by the World Bank
Developing country
The government builds schools and hospitals, supplies water and electricity, prevents and cures diseases
Protect the environment
The various efforts.
Stock principle
The World Bank was established on the principle of a joint stock company.
In its early days, the World Bank
Authorized capital
10 billion
U.S. dollar
The total capital is 100,000 shares at $100,000 each. every
Member state
All are required to subscribe for shares in the Bank, the amount of which will be negotiated between the applicant country and the Bank and approved by the Bank's Board of Directors. In general, the number of shares subscribed by a country is based on the economic strength of the country, and also by reference to the country
The International Monetary Fund
It depends on the size of the contribution. There are two methods of payment for shares subscribed by Member States:
(1) Shares subscribed by Member States shall be paid 20% in advance. 2% of it will be in gold or
U.S. dollar
Payment, 18 per cent in the national currency of Member States.
(2) The remaining 80% of the shares, when the World Bank calls, in gold,
U.S. dollar
Or the World Bank needs to pay in currency.
Weighted voting
World Bank
Each new Bank member gets 250 votes, plus votes in the Bank
Capital stock
Each share held in China is one vote. The quotas given by the IMF are used to determine the number of shares to be allocated to each new World Bank member.
Important matters of the World Bank are decided by a vote of the member States, and the size of the voting power is proportional to the share capital subscribed by the member States
International Monetary Fund
The provisions regarding voting rights are the same. Each Member State of the World Bank has a base vote of 250, with one additional vote for each $100,000 subscription. The United States subscribed the largest share, with 226,178 votes, accounting for 17.37% of the total votes, and is important to World Bank affairs and matters
Loan project
The decision plays an important role.
Following the completion of the second phase of the Bank's voting rights reform, the IBRD Executive Board consists of 25 executive directors, six of whom are from the largest shareholding countries
America
,
Japan
,
China
,
Germany
,
France
,
Britain
Directly appointed, not elected. The remaining 20 executive directors are composed of 20 regional constituencies by the governors of other member countries, which are elected every two years
Saudi Arabia
,
Russia
For a separate selection. Voting by World Bank Group institutions
Weight distribution
All different.
After the completion of the second phase of the Bank's voting rights reform, the top five shareholders of the IBRD are the United States (15.85%), Japan (6.84%), China (4.42%), Germany (4.00%), France (3.75%) and the United Kingdom (3.75%).
[4]
World Bank to the government or public
Enterprise loan
However, a government (or "sovereign") must
Guaranteed loan
The repayment of... The loan is financed mainly by the issuance of World Bank bonds. The credit of these bonds is classified as AAA (the highest) because member countries share capital to back them, and the borrower has a sovereign guarantee. Because the World Bank's credit is very high, it can lend money at very low interest rates. Since the credit of most developing countries is much lower than the credit of this loan, even if the World Bank takes about 1% from the borrower
Management fee
World Bank loans to these countries are very attractive to these countries.
In addition, the International Development Association (IDA) of the World Bank Group provides "soft" loans to the poorest countries (where the average person earns less than $500 a year) for about 30 years, at no profit. IDA funds come directly from the contributions of member countries.
The World Bank
Developing country
furnish
Long-term loan
and
Technical assistance
To help these countries implement their anti-poverty policies. World Bank loans have been used in a wide range of areas, from reforming health and education systems to things like embankments, roads and highways
National park
And other environmental and infrastructure construction. In addition to financial assistance, the World Bank provides advisory and technical assistance in all aspects of economic development. 1996 James
Wolfensohn
Since becoming president, the World Bank has focused its efforts on fighting corruption. It has been argued that this practice violates the "non-political" provision of Section 10, paragraph 10, of the World Bank Agreement. However, the World Bank has repeatedly been involved in national reform and electoral activities in the name of social economics.
The World Bank began to abandon its pursuit of economic development and focus more on poverty alleviation. It is also starting to put more emphasis on supporting small
regional
It realized that clean water, education and sustainable development were critical to economic development and began to invest heavily in these projects. In response to criticism, the World Bank adopted a number of environmental and
Social protection
Policies to ensure that their projects do not cause harm to local people or people in the recipient country. Despite this, ngos often condemn World Bank Group projects for causing environmental and social damage and failing to achieve their intended purpose.
Private Sector development is a World Bank strategy aimed at facilitating privatization in developing countries. All other World Bank strategies must be aligned with this strategy.
The World Bank has set two goals for the world to achieve by 2030:
End extreme poverty by reducing the proportion of people living on less than $1.25 a day to less than 3%.
Promote shared prosperity and boost income growth for the bottom 40 percent of the population in each country.
World Bank
If a country is also the World Bank,
International finance corporation
(
IFC
) or
International Development Association
(IDA) member States whose appointed Governors and Vice-Governors also serve as governors and Vice-Governors of the IFC and IDA Boards. Unless otherwise stated, they are also present
International Center for Settlement of Investment Disputes
(
ICSID
Representative of the State in the Executive Council.
Multilateral Investment Guarantee Agency
The directors and Deputy directors of MIGA are appointed separately.
Under the Articles of Agreement, all powers of the Bank remain supreme
Decision-making body
The council is in charge. However, the Council shall include all powers except those referred to in the Articles of Agreement
Decentralization of power
To the executive director. Specific powers include:
Acceptance and suspension of membership;
Decide on appeals by the Executive Director under the interpretation of the Terms of Agreement;
Formal and comprehensive arrangements for cooperation with other international organizations;
Termination of the Bank's operations;
Increase the number of elected executive directors;
World Bank
In the absence of an Executive Director, the Deputy Executive Director may
plenipotentiary
The executive director shall exercise his powers. In addition,
Senior consultant
The Executive Directors are assisted in their work by advisors and advisors, who may attend most Executive Board meetings with the Deputy Executive Directors in their advisory capacity but without voting rights.
Composition of the Executive Board
In accordance with Article 5, paragraph 4 (b), of the IBRD Articles of Agreement, the first Executive Board shall consist of 12 Executive Directors. To increase the number of elected executive directors, the Board of Directors is required
Vote on
The affirmative vote needs to reach 80% of the total votes. Prior to November 1, 1992, the number of Executive Directors was 22, 17 of whom were elected. In 1992, the number of elected executive Directors increased to 20 as new member countries joined the Bank.
Russia
and
Switzerland
The two additional seats from other countries bring the total number of executive directors to 24. During the term that began in 2010, one executive director was added, bringing the total to 25.
The World Bank Secretariat is responsible for the completion of the International Bank for Reconstruction and Development,
International Development Association
,
International finance corporation
Coordination with Multilateral Investment Guarantee Agency (MIGA) regular replenishment procedures.
The Bank Secretariat provides guidance on the procedures for member countries to subscribe for additional shares in accordance with resolutions approved by the Board, including required documentation and payment procedures for subscription shares.
[6]
|
President, World Bank Group
|
David Malpass
[7]
|
|
Chief Executive Officer,
|
|
|
Acting Executive Vice President and Chief Financial Officer
|
|
|
Executive Vice President and Chief Administrative Officer
|
Zhang Wencai
[42]
|
|
Chief economist
|
Penelope Cogano Goldberg
|
|
Senior Vice President and General Counsel
|
Santi Okoro
|
|
Senior Vice President for the 2030 Development Agenda, UN Relations and Partnerships
|
Mahmoud Musindine
|
|
Vice President, responsible for budget, performance management and strategic planning
|
Antonella Bassani
|
|
Chairman of the Independent Monitoring Panel
|
Imlana Jalal
|
|
Chief Ethics Officer, World Bank Group
|
Jorge Dajani Gonzalez
|
|
Vice President, responsible for regional affairs in Africa
|
Hafiz Ghanem
|
|
Vice President, South Asia regional affairs
|
Ethel Senhauser
|
|
Vice President for Latin America and the Caribbean
|
Jorge Farmiglia Calderon
|
|
Vice President for the Middle East and North Africa region
|
Firoud Belhaj
|
|
Vice President for East Asian and Pacific affairs
|
Victoria Kovar
|
|
Vice President, Europe and Central Asia
|
Cyril Muller
|
|
Chief Information Officer and Vice President, Information Management and Technology, World Bank Group
|
Dennis Robitaille
|
|
Vice President, Human Development
|
Annette Dixon
|
|
Vice President, Sustainable development
|
|
|
Deputy Governor, Equitable Growth, Finance and Institutions
|
Ceyla Pazarbasioglu
|
|
Vice President, Infrastructure
|
Makita Diop
|
|
Director of the Independent Evaluation Bureau
|
Allison Evans
|
|
Vice President, group controller
|
Bernard Lowells
|
|
Vice President, in charge of institutional integrity affairs
|
PASCAL Helen Dubois
|
|
Vice President, Group Human Resources
|
Usman Diagana
|
|
Vice President and Auditor General, Internal Audit
|
Anke D'Angelo
|
|
Vice President and Treasurer
|
|
|
Vice President, Operational Policy and Country Services
|
Manuela Ferro
|
|
Vice President and Group Chief Risk Officer
|
Lakshmi Shyam Sander
|
|
Vice President, responsible for development finance
|
|
|
Vice President and Secretary General of the Agency
|
Yvonne Chikata
|
|
Vice President, Compliance Consultant/Ombudsman
|
Oswaldo Luis Grattacos
|
|
International finance corporation
|
|
|
Chief executive officer
|
Philippe Le Houérou
|
|
Chief operating officer
|
Stephanie von Friedeburg
|
|
Vice President, Latin America and the Caribbean, Europe and Central Asia
|
Georgina Baker
|
|
Chief of the president's office
|
Elena Bourganskaia
|
|
Chief Executive Officer, IFC Asset Management
|
Marcos Brujis
|
|
Vice President, responsible for cooperation, information and publicity
|
Feng Guiting
|
|
Vice President, Institutional Risk and Sustainability
|
Mohamed Gouled
|
|
Vice President and Treasurer
|
|
|
Vice President, Economic and Private Sector Development
|
Hans Peter Lankes
|
|
Vice President, Corporate Strategy and Resources
|
Monish Mahurkar
|
|
Vice President, Middle East & Africa Region
|
Sérgio Pimenta
|
|
Vice President, Asia Pacific
|
Nina Stojkovic
|
|
Vice President, Legal, Compliance Risk, Environmental, Social and Corporate Governance Sustainability, and General Counsel
|
Ethopis Tafalla
|
|
Multilateral Investment Guarantee Agency
|
|
|---|---|
|
Executive Vice President and Chief Executive Officer
|
Honda cinnamon
|
|
Director of Institutional Risk
|
Santiago Acerini
|
|
Director and General Counsel, Bureau of Legal Affairs and Claims
|
Aradhana Kumar-Capoor
|
|
Director of operations
|
Sarvesh Suri
|
|
Secretary for Economic and Sustainable Development
|
Merli Margaret Baroudi
|
|
Deputy Director of Operations and Chief Underwriting Officer
|
Muhamet Bamba Fall
|
World Bank
Administrative agency
It shall be composed of the President, several deputy presidents, directors, directors and staff members. governor
Executive director
The head of the Bank's administration is elected and is responsible for the day-to-day operations of the bank under the guidance of the relevant policies of the Executive Board
Administrative work
The President shall appoint and remove officers and staff of the Bank concurrently
Chairman of the board
But did not
Right to vote
. A critical vote may be cast only if the votes of the Executive Board are equal.
The institutions of the World Bank Group are owned by the governments of the member countries, which have the final say in all matters within the institutions, including policy, finance, membership, etc
Decision-making power
.
Member States through the Council and executive
Board of directors
Managing the World Bank Group. All major decisions of the agencies are made by the Board of Governors and the Executive Board.
The IBRD Articles of Agreement (En) state that in order for a country to become a member of the Bank, it must first join
The International Monetary Fund
(IMF). Membership in IBRD is a prerequisite for membership in the International Development Association, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
The World Bank Secretariat, in coordination with the IMF and in consultation with other World Bank Group staff, coordinates the accession of new members and is responsible for maintaining information related to membership status, including membership list updates.
[9]
The President of the World Bank as well as responsible for regional, industry and general management
Institutional department
Under the leadership and guidance of daily operations.
World Bank
International Bank for Reconstruction and Development (IBRD), established in 1945; to
Middle-income countries
Government and reputable
Low-income countries
Governments provide loans to 188 member countries.
International finance corporation
(
IFC
), established in 1956; Be focused on
Private sector
The world's largest development agency. IFC financing through investment, mobilization
International financial market
Funding and advisory services for businesses and governments to help developing countries achieve this
Sustainable growth
, 184 member states.
International Development Association
(IDA), established in 1960; To the governments of the poorest countries
Interest-free loan
(also known as credit) and
grant
, 172 member states.
[10]
Multilateral Investment Guarantee Agency
(MIGA), established in 1988, aims to promote development in developing countries
Foreign direct investment
To support economic growth, reduce poverty and improve people's lives. MIGA provides politics to investors and lenders
Risk guarantee
To fulfill its mandate, 181 member states.
International Center for Settlement of Investment Disputes
(
ICSID
), established in 1966; Provide mediation and arbitration mechanisms for international investment disputes.
[11]
Functioning as a secretariat, its Secretary-General is elected by the Executive Council for a six-year term. The President of the World Bank Group is the Chairman of the Governing Council of 150 member countries.
The Executive Vice Presidents of IFC and MIGA report to the President of the World Bank Group.
[12]
General management
Department (EN)
Department of Development Economics Research, Department of Development Finance, Department of Institutional External Relations,
Human resources department
, Information and Technology Solutions Bureau, institutions
Incorrupt government
Department, Legal Department,
Treasurer
Ministry,
World Bank Institute
Conflict resolution mechanisms, grievance services, mediation services,
Professional ethics
Appeal Board, Workplace Advisor, Executive Director and Deputy Executive Director,
Integrated service
, Independent Evaluation Bureau,
Internal audit
Executive Vice President, Evaluation and Qualification Suspension or Sanctions Division, President's Office,
Corporate responsibility
,
Chief financial officer
, controller, corporate finance and
Risk management
Secretariat of the Organization
Regional sector
Africa
Region,
East Asia
and
Pacific
Region, Europe and
Central Asia
Region,
Latin America
And the Caribbean,
The Middle East
and
North Africa
Region,
South Asia
district
Bureau of Global Development Practice
Agriculture, education, energy and
Extractive industry
, environment and
Natural resources
,
Finance and markets
Governance, 'Health, nutrition and population',
macroeconomy
with
Financial management
Poverty, Social security and Labour, 'social, urban, rural and
Disaster risk management
Trade and competitiveness, transport and ICT, water
Cross-departmental solution area
Climate change, 'vulnerability, conflict and violence',
Social gender
, employment,
Public sector
Working with the private sector
The World Bank gives developing countries around the world access to funding
Technical assistance
An important source of...
The World Bank provides to developing countries
Cheap money
,
Interest-free loan
and
grant
To support support for education, health, public administration, infrastructure, finance and
Private sector
Development, agriculture and the environment
Natural resources
Management and many other areas of investment. Some of the World Bank's projects are
government
, other multilateral institutions, commercial banks,
Export credit agency
And private sector investors
co-financing
.
The Bank is also established in partnership with bilateral and multilateral donor agencies
Trust fund
Provision or mobilization of funds. Many partners have asked the Bank to help manage programs and projects that address cross-sector and cross-regional needs.
[13]
From 1947 to 2015, the World Bank has conducted 12,215 projects in 173 countries. Among them, 384 projects were carried out in China, with a cumulative loan of 55.12 billion US dollars.
[14]
The Bank provides support to developing countries through policy advice, analytical research and technical assistance. Our analytical work is usually for the Bank itself
Financing decision
Provide a basis for the vast number of developing countries themselves
Investment activity
Provide reference. In addition, we support development in the countries the Bank serves
Capacity building
. The Bank also hosts or participates extensively in meetings and forums on a variety of development issues, often in collaboration with partners.
To ensure that countries have access to the global
Best practice
To help create cutting-edge knowledge that the Bank constantly seeks to improve
Knowledge sharing
And ways to engage with customers and the public at large. Key priorities include:
Results: The Bank continues to place a strong emphasis on helping developing countries achieve measurable results.
Reform: The Bank is working to improve everything from how projects are designed to how information is presented (see article).
Information acquisition
How to make the Bank's projects and operations more relevant to the needs of client governments and communities.
Open Development: The Bank provides a growing number of freely accessible tools, research, and knowledge to help people tackle the development challenges facing the world today. For example, the Open Data website provides free, comprehensive, downloadable indicators of the state of development in countries around the world. The Bank also hosts the World Bank
webcast
It is a live webcast that is open to people all over the world
seminar
And put it as the World Bank and
The International Monetary Fund
Important content of spring meeting and annual meeting.
[13]
To qualify for IDA grants and
Interest-free loan
the
Low-income countries
For example, poverty reduction is needed before World Bank assistance projects can be prepared
Strategy document
Include country assistance in China
Strategic principle
. Since 1999, the Strategic Poverty Reduction Papers have been required to place poverty reduction at the centre of any development planning and to include
Private sector
And the full participation of civil society - is a prerequisite for financial and other assistance, and in some cases, also
Debt relief
A requirement of...
Due to poverty reduction in most
Middle-income countries
The World Bank has a role to play through IBRD lending. This usually means creating a way to attract more
Private capital
the
Investment environment
To help develop effective and equitable social spending programs for the establishment
Human capital
And create the conditions for equitable economic opportunity.
A large proportion of the world's poor live in middle-income countries, which are generally accessible
International capital market
, but to a limited extent and often with
volatility
.
Lending to member countries, especially developing countries, is the World Bank's main business.
World Bank loan
From the determination of the project to the repayment of the loan, there is a strict set of conditions and procedures.
Loan regulation
1.
Loan object
:
Member state
Officially,
State enterprise
, private enterprises. If the borrower is not the government, yes
Government guarantee
.
2.
Purpose of loan
: Mostly
Project loan
It is used in industry, agriculture, energy, transportation, education and many other fields. The bank only provides
Project construction
Total investment
The rest is financed by the borrowing countries themselves, which we usually call domestic
Matching funds
.
Bank loan
It must be earmarked, and the borrowing country must accept it
Bank supervision
.
4.
Loan interest rate
: According to the World Bank
Capital market
Financing interest rate to determine. It is adjusted every three months or six months. Loan-rate ratio
Market interest rate
It is lower and charges less incidental fees on loans, only charging 0.75% of loans that are not paid after signing up
Commitment fee
.
5. Loan amount: according to the borrowing country
Gross national product per capita
Debt credit strength, development goals and needs of borrowing countries,
Investment project
Its feasibility and order in the development of the world economy.
6.
Type of loan
First, it is specific
Investment loan
; Second, departmental loans; Three is
Structural adjustment loan
; Four is
Technical assistance
Loans; Five is
Emergency rehabilitation loan
.
7. Loan procedures: complicated procedures, strict requirements, generally take one and a half to two years.
8. Repayment: due return, shall not default, shall not change the repayment date.
(1) Selection of the project. Act as
Project cycle
In the first stage, the selection of projects is crucial. The success or failure of the World Bank's lending business is directly related to the selection of viable projects from a large number of projects in the borrower country. The World Bank mainly selects projects in several ways: (1) conducting economic research in various aspects with the client countries; ② Enact
Loan principle
Clarify the direction of loans; ③ Consult with borrowing countries
Loan scheme
; ④ Send project appraisal team.
(2) Project preparation. Projects are evaluated and selected jointly by the World Bank and the client countries
Loan project
After that, the project enters the preparation phase.
in
Project preparation
At this stage, the World Bank will send a delegation of experts from various fields to work with the borrower country to formally prepare for the next stage of the project using the loan
Feasibility analysis
And assessment to lay the foundation. The direct and primary responsibility for project preparation generally rests with the borrowing country.
(3) Project evaluation. After the project is ready, enter
Evaluation phase
.
Project evaluation
It was basically done by the World Bank itself. The World Bank's assessment has five main components: technical, economic, financial, institutional, social and environmental.
(4) Project negotiation.
Project negotiation
Generally, the World Bank and the borrowing country agree on a time for negotiations, and then the World Bank invites the borrowing country to send a delegation to Washington for negotiations. Both parties generally agree
Loan agreement
And project agreement two
Legal document
To confirm the terms, and to discuss the relevant technical issues.
(5) Implementation of the project. At the end of the negotiation, the borrower country and the project beneficiary shall discuss the negotiated agreement
Loan agreement
And the project agreement is formally confirmed. On this basis, the management of the World Bank submits the project under the loan program
World Bank Executive Board
Approved. After the project is approved, the World Bank and the borrower country formally sign the agreement. After the agreement is formally signed, the borrowing country can, in accordance with the conditions required for the entry into force of the loan, complete the relevant legal certification procedures and send the legal documents required for entry into force to the World Bank for review. If all the procedures are completed, the World Bank declares the loan agreement effective and the project enters the implementation phase.
(6) of the project
post-evaluation
. Within a certain period of time after the account of a project loan is closed, the World Bank conducts a summary of the project, that is, a post-evaluation of the project. Finish through
Project execution
Clear the money, conduct a review, summarize the experience and lessons drawn in the course of several cycles,
Evaluation item
The extent to which the expected benefits are realized.
Can raise the borrower country
Development ability
For the project, the borrowing country can receive both loan and non-loan assistance. The economic and sectoral work is aimed at providing a comprehensive understanding of client countries' development problems, external financing needs and requirements
External funding
Availability as well as right
Development strategy
An analytical framework for assessing donor assistance activities. An important objective of economic and sectoral work is to identify in advance high-yield projects that directly benefit the poor.
The World Bank's economic and sectoral work provides it with policy and policy
Public expenditure
Consulting and the development of projects and other business forms the basis of analysis.
Grants are an integral part of the World Bank's development work. In addition to providing grants through IDA, the World Bank manages more than a dozen grant projects and about 850 donor programs
Trust fund
(Annual payments exceed $1 billion).
Emergency aid is happening
Natural disaster
Or whatever the economy has
Significant impact
And a prompt response is required in case of an incident. This assistance takes many forms. For example, the World Bank could develop a recovery strategy for existing
Loan portfolio
Structural adjustments were made to support recovery efforts. The World Bank also issues emergency aid loans that are disbursed quickly.
The World Bank, for example, advises
Ethiopia
,
Malawi
and
Zambia
$160 million in aid to help with post-drought recovery efforts.
The World Bank was still in January 2001
Gujarat earthquake
rearward
India
About $600 million in loans for reconstruction. In the implementation of flood control and forest
Fire prevention measures
The World Bank has also designed a number of disaster management projects.
Since 1980, the World Bank has also approved more than 500 disaster-related operations amounting to more than $38 billion.
Conflict prevention and post-conflict reconstruction are essential for poverty reduction. The World Bank's role in this area goes far beyond post-war infrastructure reconstruction.
On June 8, 2022 local time, the Independent News Agency of Ukraine reported that the World Bank had approved the provision of $1.5 billion to Ukraine
Economic aid
, used to
State official
And social sector practitioners pay salaries.
[33]
-
Author name World BankWork time The 2002-8
-
Promoting Development is a book published by the China Financial and Economic Publishing House in 2002 and authored by the World Bank.
-
-
China: Promote efficient, inclusive and sustainable urbanizationAuthor name World BankWork time The 2014-6-1
-
Over the past three decades, China's urbanization has supported rapid economic growth and transformation, moving 260 million migrant workers from agriculture into the more productive agricultural sector. In the process of urbanization, 500 million people have been lifted out of poverty, and the economy has maintained an unprecedented annual growth rate of 10% for 30 years. China's cities have created a highly growth-friendly environment with ample labor, cheap land, good infrastructure, and regional competition. Constantly...
-
-
System of National Accounts -2008Author name World BankWork time The 2012-11
-
The "System of National Accounts (2008)" mainly includes stock, flow and accounting rules, institutional units and departments, enterprises, grass-roots units and industries, production accounts, appendix separated from the holding profit and loss of warehousing output, income primary distribution account, income redistribution account, income use account, capital account, financial account, other changes in assets account, balance sheet Price and material quantity accounting.
-
World Bank and
The United Nations
Cooperation has been carried out in most regions and industries. Since the
International community
pass
Millennium Development Goals
(En) Since then, this cooperation has continued to deepen.
10 February 2017 from the World Bank in China
Representative office
We are informed that the Bank's Executive Board has approved the appointment
Shaanxi (Province)
The province is offering a $100 million loan for poor areas of the province
Rural community
Development project
To increase farmers' income.
[15]
The Bank maintains this in a proactive and proactive manner through its New York representative office
Strategic partnership
To coordinate positions, as necessary, with the heads and staff involved with the United Nations in all Bank departments.
Intergovernmental:
With countries accredited to New York diplomatic missions and management
United Nations General Assembly
The Economic and Social Council (ECOSOC) and
The Security Council
Institutions to carry out exchanges.
Interagency:
with
United Nations Secretary-General
Under the leadership
Executive head
The Board of Governors (CEB) and the United Nations Development Group (UNDG) of which the World Bank is a member
Observer
) Carry out interaction.
At the institutional level:
With the United Nations Secretary-General,
United Nations Secretariat
and
United Nations Development Programme
(UNDP),
United Nations Population Fund
(UNFPA),
United Nations Children's Fund
(UNICEF) and other organizations and foundations interact.
This kind of
substantiality
The diplomatic dialogue has ensured and facilitated enhanced cooperation on development issues of common concern, including in key thematic areas such as fragile states, climate change and human development.
The New York office also represents the World Bank
management
Attend important UN conferences, establish
Strategic alliance
At the same time, information is provided to Bank staff to assist the Bank
Top management
Exchanges with senior UN officials facilitate the Bank's participation in UN events, conferences, round tables and summits.
The Bank's job is to ensure that the Bank remains the leading development advocate in the UN system, that its views are accurately incorporated into the UN agenda, and that the Bank properly understands UN policies and actions and, where appropriate, integrates them into the Bank's development work.
[16]
The membership of the World Bank must be
IMF
Members of the IMF are not necessarily all members of the World Bank. The World Bank and
International currency
The IMF and the IMF play complementary roles. The IMF is primarily responsible for issues related to international monetary affairs, and its main task is to provide member countries with short-term foreign exchange funds to resolve temporary imbalances in the balance of payments
Exchange control
To promote exchange rate stability and the expansion of international trade. The World Bank is mainly responsible for economic recovery and development, providing medium - and long-term loans to member countries for economic development.
For application
All-round development
The principles of the framework, jointly launched by the World Bank and the International Monetary Fund, reduce poverty
Strategy document
(PRSP for short), the document is developed by the countries themselves and becomes the debt reduction and
Concessional loan
The basis for. PRSPS are designed to expand civil society, in particular
Poor population
In the design of poverty reduction strategies
representativeness
To strengthen coordination among development partners and enable the international community to conduct research and analysis,
Policy consultation
And pooled financial resources to achieve effective poverty reduction.
Dealings with the World Bank
Governor of the People's Bank of China meets with Wolfowitz
The Shanghai Global Conference on Poverty Alleviation, hosted by the World Bank and co-hosted by China in May 2004, is a good example of international development cooperation between the two sides. The conference promoted the international community's reunderstanding of the global concept and practice of poverty reduction, and promoted the international community's consensus on action for poverty reduction.
China first announced its contribution to the World Bank in December 2007
Soft loan
IDA donated US $30 million, which was widely praised by the international community, marking a new milestone in bilateral cooperation.
In 2008 and 2009, China and the World Bank successfully co-hosted two "World Bank" conferences.
Central Africa
Advanced Seminar on Sharing Development Experiences ". The seminar explained the challenges, measures and achievements of China in the process of reform and development, compared with the different economies, histories and achievements of African countries
Cultural background
Promoting the mutual learning of development experiences and models was not only highly praised by the representatives of African countries attending the meeting, but also regarded by the World Bank
South-south cooperation
A successful example of...
In October 2008, the Chinese government, as a founding donor, donated US $300,000 to the World Bank Fund for South-South Knowledge Cooperation, once again demonstrating to the international community China's attitude of actively promoting South-South cooperation.
In May 2008,
Lin Yifu
The official appointment as the World Bank's Chief Economist is the first time that the World Bank has appointed a person from a developing country as its chief economist since its establishment in 1945. It also fully demonstrates the World Bank's recognition of China's development achievements and experience.
17 - [18]
Relations with the International Bank for Reconstruction and Development
China was one of the founding countries and resumed its legal seat in the World Bank Group in 1980. Since 2010, China's voting power in the International Bank for Reconstruction and Development has accounted for 4.42 percent of the total voting power, ranking third. By the end of fiscal 2011, IBRD had committed about US $39.2 billion in loans to China.
[18]
Relations with the International Development Association
In 1980, China resumed its rightful seat in the World Bank Group, and at the same time became
International Development Association
Member States. China's voting power in IDA is 411,541 votes, or 2.04% of the total. As of July 1999, the Association had provided a total of about $10.2 billion to China
Soft loan
. From July 1999, IDA stopped lending to China. In December 2007, our country contributed US $30 million to the International Development Association. In December 2010, China pledged to contribute US $50 million to the 16th replenishment of IDA and to double the accelerated repayment of IDA borrowings in accordance with the Bank's legal provisions, with a voluntary additional one-time contribution on top of that
prepayment
$1 billion loan. For the additional one-time early repayment of $1 billion that I volunteered, the World Bank accounted for about $110 million in my direct contributions to IDA16.
Dealings with the International Finance Corporation
In 1980, China resumed its rightful seat in the World Bank Group, and at the same time became
International finance corporation
Member States. China subscribed 24,500 shares in IFC, equivalent to 24.5 million US dollars, accounting for the IFC
Authorized share capital
1.03% of the total. China's voting power in the IFC is 24,750 votes, accounting for 1.02% of the total voting power. Since IFC approved its first project in China in 1985, by the end of fiscal 2011, IFC had invested in 218 projects in China and provided US $5.43 billion in funding for these projects, of which US $4.15 billion was
Own funds
$1 billion came from other banks in the syndicate and $280 million was guaranteed by the IFC.
China strategy
According to the World Bank's Country Partnership Strategy for China, the World Bank mainly provides the following assistance to China:
1. Promote
Chinese economy
Integration into the world economy: deepening China's participation in multilateral economic institutions, lowering barriers to internal and foreign trade and investment, and assisting China's overseas development assistance;
2. Reduce poverty, inequality and
Social exclusion
Promote the balanced development of urbanization, ensure rural life, and expand the basic
Social service
And infrastructure services, especially in rural areas;
3. Coping
Resource shortage
And environmental challenges: Reducing air pollution, conserving water, optimizing energy use (partly through
Price reform
To improve land administration and performance
International environment
The Convention;
4. Deepen
Financial intermediation
Role: Expansion
Financial service
(especially small and medium-sized enterprises), development
Capital market
Responding to systemic risks and maintaining
Financial stability
;
5. Strengthening public sector and market institutions: Upgrade
Enterprise competitiveness
Reform the public sector and straighten out the fiscal relations between governments.
In line with these objectives, the World Bank implements its assistance programs in three main ways:
Investment loan
,
Technical assistance loan
And grants (which are often provided by multilateral cooperation agencies and administered by the World Bank), as well as
Analysis report
Non-financial services, such as policy advice, seminars and training, are combined in one or more ways as needed to achieve specific objectives.
In 2022, it was learned from the World Bank that the Bank's Executive Board had approved two loans totaling $700 million to China, including to assist China's response
Yellow River basin
Water shortage
and
ecosystem
Degenerated $380 million loan, and help China
Southwest China
Green agriculture
And a $320 million loan for rural development.
[28]
Traditionally, the president of the World Bank is an American
The International Monetary Fund
The president of
European Union
The people of The President of the World Bank is also the President of the World Bank Group and the President of the Group's four other organizations.
The Bank's Articles of Agreement do not specify the nationality of the president, but he is usually nominated by the executive director of the United States. Under a long-standing, informal agreement, the head of the World Bank is an American, while the head of the International Monetary Fund is a European. The first term shall be five years, and the second term may be five years or less.
From 1946 to 2023, there have been 14 presidents of the World Bank, all of them American.
5. Robert Strange McNamara (April 1, 1968 - July 1, 1981
7. Barber Benjamin Conable (July 1, 1986 - September 1, 1991
8. Lewis Thompson Preston (September 1, 1991 - February 1, 1995)
Acting President Ernest Stern February 1, 1995 - June 1, 1995
The World Bank is an institution in
globalize
Institutions in the economy whose responsibilities have become increasingly blurred.
To some extent, the World Bank is a lending institution. But the bank's biggest borrower is growing fast
Developing country
The source of power, that is, China, India and other countries. And the controversial point is that these countries can withdraw from their own
Private investor
A lot of money was borrowed there.
The Bank is also an aid agency, providing assistance to some of the world's poorest countries. But the aid money only accounts for
Developed country
, the Gates Foundation and other private groups and other institutions to provide a small fraction of the aid.
At the same time, the Bank is also an investor, investing in
Emerging economy
In private companies. But these investments are a drop in the ocean compared to the vast amounts of money that can easily flow to places once considered poor or dangerous.
What is less clear is that the World Bank - the International Bank for Reconstruction and Development (IBRD), which is run for profit
Core business
Whether it still makes sense.
Although many poor governments around the world rely on the World Bank to finance their own
Development plan
The World Bank is often subject to criticism by large corporations."
neocolonialism
Critics of globalization. These anti-globalists are also the most prominent critics of the World Bank, which they accuse of using various structural adjustment measures to undermine the sovereignty and aspirations of recipient governments
Economic liberalism
And weaken the role of the state.
A general criticism is that the World Bank is politically influenced by some countries (especially the United States), so its policies tend to favor the interests of those countries.
Another criticism is that the purpose of the World Bank is
neo-liberalism
It is based on the belief that the market is the only mechanism that can bring wealth to a nation. A country can only practice
Free market
Competition leads to prosperity. But in the
Military conflict
In a country (civil or foreign war) or in a country that has been oppressed for a long time (dictatorship or
colonialism
) and in politically unstable and undemocratic countries
neo-liberalism
Principles and reforms are not working. In these cases the World Bank prefers to introduce
Foreign enterprise
Thereby destroying the local
Economic system
The development of...
Liberals, on the other hand, criticize the World Bank for being entirely a
Political organization
. They don't think the World Bank believes it
Market regulation
Economic capacity, but a country to own, adjust
International economy
The tools are designed to mask the policies of these countries
World economy
The control of.
The work of the World Bank is often affected
Non-governmental organization
And the Bank's own internal reviews have sometimes questioned some of its decisions. Often the World Bank is blamed for the United States or
Western countries
Do what's best for them
Economic policy
In addition, it is often introduced too quickly, incorrectly, in the wrong order, or under unsuitable circumstances
Market economy
The reforms were damaging to the economies of developing countries. The real control of the World Bank is the World Bank magnates, their ultimate goal is to chase profits, the situation can be said to be a compromise result.
