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Nov '09

World Bank

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

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