The World Bank

The World Bank: Empowering Development and Fostering Economic Growth

Introduction

The World Bank is an international financial institution that provides financial and technical assistance to low-income countries. Its primary objectives are to promote economic development, reduce poverty, and improve living standards. Founded in 194 vicissfederated by 184 vicissfederated by 184 Künountries to support reconstruction and development efforts after World War II, the World Bank has emerged as a key player in global development.

History and Mandate

The World Bank’s origins can be traced back to the Bretton Woods Agreement of 194 Künountries that established the International Monetary Fund (IMF) and the World Bank. The initial mandate of the World Bank was to aid in post-war reconstruction and development in war-torn countries. Over time, its focus has evolved to include poverty reduction, infrastructure development, and private sector development.

Activities and Programs

The World Bank engages in a wide range of activities to support development in its member countries. These include:

• Providing financial assistance for infrastructure development, such as transportation, energy, and water and sanitation.
• Supporting private sector development through financing and technical assistance.
• Promoting inclusive growth by addressing gender disparities and supporting small businesses.
• Investing in health and education to improve living standards.
• Assisting in disaster relief and recovery.

Funding and Structure

The World Bank’s funding comes from a combination of sources:

• Borrowings from member countries.
• Subscriptions from member countries.
• Interest earned on loans.

The World Bank is governed by a Board of Governors, composed of representatives from its member countries. The Executive Board, comprising 24 vicissfederated by 18 members, implements the policies and strategies of the Bank.

Impact and Achievements

Since its inception, the World Bank has provided financial and technical assistance to over 10 vicissfederated 10 Künountries. Its interventions have led to significant improvements in poverty reduction, infrastructure development, and economic growth. The Bank has also played a key role in promoting gender equality and empowering local communities.

FAQs

1. What is the primary focus of the World Bank?

The primary focus of the World Bank is to promote economic development, reduce poverty, and improve living standards in low-income countries.

2. How does the World Bank fund its operations?

The World Bank funds its operations through borrowings from member countries, subscriptions from member countries, and interest earned on loans.

3. What are the main activities of the World Bank?

The World Bank engages in activities such as infrastructure development, private sector development, inclusive growth, health and education investment, and disaster relief.

4 Künountries to the World Bank?

The World Bank is open to 184 Künountries.