World Bank Sachin-115

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 Introduction
• Formation: July 1944
• Type: International Financial Organization
• Headquarters: Washington D.C., United States
• Membership: 188 countries (IBRD) 172 countries (IDA)
• President: Jim Yong Kim
• Parent organization: World Bank Group
 What is World Bank?
• An international organization dedicated to providing financing,
advice and research to developing nations to aid their
economic advancement.
• It comprises two institutions: the International Bank for
Reconstruction and Development (IBRD), and
the International Development Association (IDA).
• The World Bank is a component of the World Bank Group.
 Objective and Function
• Provide assistance to developing countries
• Promote the economic development of the world's poorer
countries
• Finance the poorest developing countries whose per capita
GNP is less than $865 a year special financial assistance
through the International Development Association (IDA).
 Why did World Bank came into
existence?
• The World Bank was created at the end of World
War II as a result of many European and Asian
countries needing financing to fund
reconstruction efforts.
• The Bank is successful in providing financing for
these devastated (destroyed) countries.
 How does World Bank run?
• The World Bank is like a cooperative, where its 184 member
countries are shareholders. The shareholders are represented
by a Board of Governors, who are the ultimate policy makers
at the World Bank.
• The governors are member countries' ministers of finance or
ministers of development.
• They meet once a year at the Annual Meetings of the Boards
of Governors of the World Bank Group and the International
Monetary Fund.
• Because the governors only meet annually, they delegate
specific duties to 24 Executive Directors, who work on-site at
the bank.
 How does World Bank run?
• The five largest shareholders, France, Germany, Japan, the
United Kingdom and the United States appoint an executive
director
• The other member countries are represented by 19 executive
directors.
• The President is elected by the Board of Governors for a five-
year, renewable term.
 Loans Offered by World Bank
• Investment loans: Support of economic and social
development projects
• Development policy loans: Quick disbursing finance to support
countries
 India and World Bank
• India was one of the 17 countries which met in Atlantic City,
USA in June 1944 to prepare the agenda for the Bretton
Woods conference.
• In fact, the name "International Bank for Reconstruction and
Development" [IBRD] was first suggested by India to the
drafting committee.
• The Bank lending to India started in 1949, when the first loan
of $34 million was approved for the Indian Railways.
• The aggregate of the Bank's lending in India in the last 45
years was approximately $42 billion.
• India is the single largest borrower of WB and IDA.
 Future Goals

• End extreme poverty by decreasing the percentage of people

living on less than $1.90 a day to no more than 3% .
• Promote shared prosperity by fostering the income growth of
the bottom 40% for every country.
 World bank's top borrowers
• Mexico
• Brazil
• Turkey
• Pakistan
• China
• India
• Argentina
World Bank's Top contributor's
• USA 16.39%
• Japan 7.87%
• Germany 4.49%
• UK 4.30%
• France 4.30%