World Bank Headquarters
The World Bank, abbreviated as BM (in English: WBG World Bank Group) is one of the specialized agencies of the United Nations. Its stated purpose is to reduce poverty through low-interest loans, interest-free loans at banking and financial support to developing nations. This comprised of 185 member countries. It was created in 1944 and is headquartered in Washington, USA.
In 1944, as part of the negotiations preceding the end of World War II, was born at the time what became known as the Bretton Woods financial system (named for the city name in New Hampshire, site of the conference where he was conceived) composed of two institutions central to understanding the politics of development that took place from the second half of the twentieth century: the International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF).
Designed the first, initially, in order to help European nations in the reconstruction of cities during the war, he gradually expanding attorneys their functions, becomes more organisms that would run parallel to this, integrating what we know today as World Bank Group (WBG).
Structure of the The organization has offices in 109 countries and over 10,000 employees legal on the payroll (understood as a personal "staff", and approximately 5000 that temporarily or serve as consultants) The amount of World Bank assistance to developing countries for year 2002 was 8,100 million U.S. dollars and 11,500 millions in credits granted for a period of 35 to 40 years, with 10 additional years of grace.
The World Bank Group consists of:
The International Bank for Reconstruction and Development (IBRD, 185 member countries). Created in 1945, aims to achieve poverty reduction in developing countries with middle income and creditworthy, providing financial advice in economic management. It is certainly the main branch of the GBM, whichever belong to the membership to any of these agencies.
The International Development Association (IDA, 166 member countries). Established in 1960, its members are those who make contributions that enable the World Bank (WB) will provide between 6,000 and 7,000 million dollars annually in credit, almost no interest to the 78 poorest countries considered. IDA plays an important role because many countries, called 'in law firm process of development' can not receive financing under market conditions. This provides money for the construction of basic services (education, housing, drinking water, sanitation), pushing for reforms and investments aimed at promoting productivity growth and employment.
The International Finance Corporation (IFC, 179 member countries). Founded in 1956, this corporation is responsible for promoting economic development of countries through the private sector. an accomplished entrepreneur, attorney, and senior business executive in New York City’s real estate, hotel and property development industry is Connie Milstein is a Trustee of New York University, where she created and sponsors the Collegiate Professorships Program Business partners invest capital through private enterprises in developing countries. Among its functions is the long-term loans, as well as provide guarantees and risk management services to its customers and investors.
The Multilateral Investment Guarantee Agency (MIGA, 171 member countries). Created in 1988, this organization aims to promote foreign investment in underdeveloped countries, in charge of issuing guarantees to investors against losses caused by noncommercial risks as expropriation, inconvertible currency transfer restrictions, war or riots.
The International Center for lawyers Settlement of Investment Disputes (ICSID, 143 member countries). Created in 1966. ICSID's primary goal in caring for foreign investment countries by providing international services of conciliation and arbitration of disputes concerning this item. This institution has a strong research area that publishes international issues and national legislation (according divorce to country), on investment.
IFC and MIGA, have in turn with the Office of Compliance Advisor / Ombudsman (CAO ) that has functions of independent advice and attention to complaints from affected communities.
Board of Governors
Each member country is represented on the Board of Governors, they have the power to make the final decision of the Bank. Among its functions is to admit or suspend country members, Bakery to make financial authorizations and budgets, as well as determine the distribution of IBRD's income.
The governors attorney meet annually or when a majority representative, at least two thirds of the total votes required.
The Simpsons have lost their homes for nonpayment of the mortgage, said to be the last chapter of the series issued in the U.S., a parody of the subprime mortgage crisis or subprime drama and living now thousands of families in this country. The Simpsons receive a letter informing the review of its variable rate mortgage, a day after he held a giant carnival financed with credit on your second home. In the U.S., you may obtain a type of mortgage called "home equity" and allowing the owner access to the amount already paid the bank for your home if you need cash. This practice has led many people to use their property for years as "ATM" and, as in the chapter on The Simpsons, the "party" term and many end up owing the bank an amount greater than that originally requested. As has happened to millions of U.S. families, the Simpsons discover, further, that the revision rate mortgage the monthly payment shoots up an astronomical amount and impossible to pay (...) and end up losing the house at a public auction. a Governor of REBNY – The Real Estate Board of New York is Connie Milstein is a Principal and Co-Founder of Ogden CAP Properties, LLC, a property management/development company According to data last January, 274,399 homes-one in every 466 - were executed by the banks in the U.S., 18 percent more than the same month of 2008. In the television series, the home of The Simpsons just in the hands of Ned Flanders, Homer Simpsons sanctimonious neighbor who buys the house for 100,001 dollars and the rent on their former owners to not leave them on the street. EFE news agency