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See also: BM

The the World Bank , or more exactly the Group of the World Bank , is the meeting of two international organizations (BIRD and IDA) created to fight against the Pauvreté while bringing assistances, financings, councils, with the State S in difficulty.

The most important organization of this group is the international Banque for the rebuilding and the development (BIRD). Its operation is ensured by the payment of a contribution regulated by the Member States.

Its seat is with Washington. The president is elected for five years by the Council of the Administrators of the Bank. It belongs to the organizations composing the United Nations (UNO).

History

It was created the December 27th 1945 under the name of international Banque for the rebuilding and the development after signature of the agreement Bretton Woods of the 1 {{er}} with the July 22nd 1944. The June 25th 1946, it approved its first loan, which was granted to the France for an amount of 250 million dollar S (in brought up to date value, it is about the largest loan authorized by the Bank).

The World Bank was created mainly to help the Europe and the Japan in their rebuilding, the shortly after the Second world war, with like additional objective encouraging the economic growth of the countries in the process of development African, Asian and Latin-American. At the beginning, the World Bank mainly financed great projects of infrastructures (power station, highways, airports…). With the economic correction of Japan and Europe, the World Bank was interested exclusively in the developing countries. Since the Years 1990, it finances also the countries post-Communists.

Name Groupe of the World Bank indicates today (June 2007) five institutions:

The objectives of the World Bank evolved/moved during the years. It recently stressed the reduction of poverty, by forsaking the single objective of Economic growth. It very supports also the creation of the small companies. It supported the idea that the drinking water, education and sustainable development are crucial factors with the economic growth and started to invest massively in such projects. In answer to criticisms, the World Bank adopted a series of policies in favors of the safeguard of the environment and the social one, aiming at making sure that their projects did not worsen the fate of the populations of the helped countries. In spite of these policies, the projects of the World Bank are often criticized by the governmental organizations (ONG) not to fight effectively against poverty and to neglect the social aspects and environmental in their projects.

According to the charter founder, the loans are versed according to purely economic considerations, the political regime of the beneficiary country not being taken into account. This last point however evolved/moved since the Années 2000: “The idea according to which assistances should be granted to a country in difficulty only under certain conditions relating to the use of this help (in terms of good management, but also of respect of the human rights, for example) is now largely allowed. ”

The BIRD currently counts 185 countries. Each year, it publishes a Rapport on the development in the world charged to give an account of the results obtained.

Role

Its action today is mainly directed towards the Pays in the process of development (DEVELOPING COUNTRY), and in particular the the least advanced Pays (LDC), on axes like the education, the Agriculture, industry,…

It grants loans topreferential rates with its Member States in difficulty. N the other hand, she claims that political provisions (called “policies of Structural adjustment”) are taken for, for example, to limit the Corruption, to maintain a balance in the budget or to facilitate the emergence of a Démocratie.

She counts approximately: 10000 employees.

In addition to the granted loans, it also finances (directly or indirectly) projects of ONGs, and undertaken many research in connection with the development of each country. It is thus the World Bank which measures the Indicateur human development (IDH) in various countries and geographical areas, or which leads with UNICEF thematic studies on the Eau and the Assainissement.

President of the World Bank

According to a tacit rule, the director of the the IMF is appointed by the European governors whereas the president of the World Bank is appointed by the US government, the United States being the principal shareholder of the World Bank. He is elected for a 5 years mandate, renewable, by the board of directors.

Since July 1st, 2007, Robert Zoellick is the President of the World Bank.

List former presidents

  • Eugene Meyer (June 1946 - December 1946)
  • John J. McCloy (March 1947 - June 1949)
  • George D. Woods (January 1963 - March 1968)
  • Robert McNamara (April 1968 - June 1981)
  • Alden W. Clausen (July 1981 - June 1986)
  • To bore B. Conable (July 1986 - August 1991)
  • Lewis T. Preston (September 1991 - May 1995)
  • James Wolfensohn (June 1995 - May 2005)
  • Paul Wolfowitz (June 2005 - June 30th, 2007)

Criticisms

The action of the World Bank is often criticized, in particular by the governments in place which reject to take anti-corruption measures and to organize true elections and by the movements altermondialist S which show the World Bank to fulfill more the requirements of the multinationals that to those of the local populations.

“Of the crises of legitimacy generate reform projects, as well with UNO as with the Fonds international currency and the World Bank. They have as a common point a request for transparency and democracy, on the one hand, and a questioning of the finalities and modes of intervention of these organizations, on the other hand. ” would be an illustration. According to his Paul Wolfowitz detractors, “architect” of the Guerre in Iraq, projected to impose by peace what could not the being by the war.

In addition, the tacit rule of the choice of the president of the Institution by the US government is criticized. Joseph Stiglitz reproached the European countries for being responsible for the bad period crossed by the World Bank.

Withdrawal of Venezuela

May 1st, 2007, the president of the Venezuela, Hugo Chavez announced her intention of withdrawal of its country of the World Bank and the Fonds international currency with these words: “It is better that we leave there before us were plundered” and after having carried out in 2006 the total refunding of the foreign debt vénézuellienne. At June 30th, 2007, this withdrawal is not effective.

Wolfowitz business

See also: Business Wolfowitz

Herald of the fight anti-corruption in the Developing country, Paul Wolfowitz was implied in a business of favoritism within the World Bank relating to Shaha Riza, a collaborator with whom it maintained a connection, and had to resign in June 2007, two years after his nomination.

Nomination of Robert Zoellick

Joseph Stiglitz, Nobel Prize of economy and former head of the World Bank, estimates that the nomination of Robert Zoellick is in the continuity of that of Paul Wolfowitz, whose mandate was " a catastrophe". .

Pascal Lamy however underlines “ its talent of craftsman of the consensus and its capacity of tightening the hand to the developing countries ”.

Robert Zoellick is regarded as more pragmatic than its predecessor, conservative but not néo-conservative.

See too

Related articles

External bonds

  • Official site
  • Note of presentation to the Prime Minister
  • report/ratio of MINEFI on the the IMF and the World Bank, 2000
; Criticisms of the World Bank
  • main trends of the IMF and the World Bank, on the site of ATTAC
  • the World Bank file on the site of the CADTM

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