International Bank For Reconstruction And Development

The World Bank was originally established in 1944 by 28 countries as the International Bank for Reconstruction and Development with the aim of assisting and financing public development projects. In 2015 the World Bank Group is an umbrella organization of five parts with 187 member countries. While the Bank remains the largest such institution in operation, there are now so many other similar institutions that there are four subcategories to describe them: Multilateral Development Banks (used to describe the World Bank), Multilateral Financial Institutions, Sub-Regional Banks, and Aid Coordination Groups. Partners (World Bank, 2016) The World Bank provides governments, based solely on economic rather than political considerations, with†¦show more content†¦For example, the Niger Basin Water Resources Development and Sustainable Ecosystems Management Program (APL2A), for which the World Bank is providing $55.2M of the $259.53M total is described as follows: Sectors Large Hydropower 80% Public administration- Water, sanitation and flood protection 8% Irrigation and drainage 5% Other social services 5% Agricultural extension and research 2% Themes Water resource management 30% Regional integration 30% Rural services and infrastructure 20% Municipal governance and institution building 10% Social Inclusion 10% (World Bank, 2016) A main part of this project is the construction of the Kandadji Dam on the Niger River, which will require the involuntary displacement of people living in the dam s footprint. Dam construction has been delayed but investment in the area and services for the local population are already shrinking, making it harder for the local affected population to maintain their standard of living. But as dam construction has not yet started many residents are not entitled to any assistance or relocation. This reveals the early stages of two problem areas, lack of understanding of the second and third order effects projects will have on the local area and lack of follow through on the World Bank’s own policy standards about minimizing the harm for people affected by the projects it supports. A more complete example of a World Bank project with International Bank For Reconstruction And Development The World Bank was originally established in 1944 by 28 countries as the International Bank for Reconstruction and Development with the aim of assisting and financing public development projects. In 2015 the World Bank Group is an umbrella organization of five parts with 187 member countries. While the Bank remains the largest such institution in operation, there are now so many other similar institutions that there are four subcategories to describe them: Multilateral Development Banks (used to describe the World Bank), Multilateral Financial Institutions, Sub-Regional Banks, and Aid Coordination Groups. Partners (World Bank, 2016) The World Bank provides governments, based solely on economic rather than political considerations, with access to capital for development projects as either the sole lender or to supplement other lenders. The World Bank also seeks, through Technical Assistance Projects, to support the strengthening of local government’s management and governance c apacities. Capital and support for the private sector in developing countries is provided by a second member of the World Bank Group that was founded in 1956, the International Finance Corporation. Currently the World Bank has 1,712 projects being run at 19,434 locations worldwide and for the governance and management the Bank views codifies projects as being within one or more components of 10 Sector areas. Each project is then also categorized as addressing one or moreShow MoreRelatedThe International Bank For Reconstruction And Development Essay1354 Words   |  6 PagesResearch and find one project of the World Bank or the IMF that created problems for the nation that received its assistance. Describe the project and what the negative outcomes were. Explain whether or not you feel that the negative impacts could have been avoided? Why or why not? Further explain your opinions on whether you believe that international financial institutions such as these could consistently provide assistance in an objective, unbiased and responsible manner. Why or why not? 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