United Nations: World Bank

Introduction: The World Bank is an international organization consisting of two main institutions: The International Bank for Reconstruction and Development (IBRD) and The International Development Association (IDA) both of which are incorporated into three more institutions: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and International Centre for Settlement of Investment Disputes (ICSID). The organization consists of 184 countries (IBRD) and 170 countries (IDA), which are all equally responsible into the decision of how the money is spent.

Aims:

The Institutions main target is to reduce to levels of poverty in the world by providing loans to developing countries. This may be so in order to assist in development in capital projects such as a water dam (IDA) or by providing loans to individuals of the middle/low income classes (IBRD). LICs which loan money off World Bank will receive a low-interest loan, interest-free credit and grants to developing countries, such as technical assistance.

The World Bank also helps fund organizations in the HIC which are responsible into disease research organizations such as cancer.

About the World Bank:

The World Bank employs around 10,000 development professionals to work dub the World Bank headquarters in DC. Both IDA and IBRDs funds are generated through financial markets such as insurance companies, pension funds and Central banks.

Projects:

The World Bank currently has many projects that they are working on in order to evenly provide financial aid across, but one of their biggest projects is providing the financial aid to Haiti. The World Bank has provided the country with support such as free education for over 100,000 children, rebuilding and assessing over 400,000 homes and safeguarding and creating over 10,000 jobs. The IDA has allocated $530 to Haiti, of which $355 million in grants are being made available in 2012.

Leslie Pan 11G

Leslie Pan 11G