the world bank group (1)

7/29/2019 The World Bank Group (1)

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The World Bank Group

The World Bank is a vital source of financial

and technical assistance to developing

countries around the world.

The World Bank Group helps developing

countries by providing resources, sharing

knowledge and forging partnerships in the

public and private sectors.

History

Since inception in 1944, the World Bank has

expanded from a single institution to a

closely associated group of five development

institutions, headquartered in Washington,

D.C.

Five Institutions, One Group

The World Bank Group consists of five

organizations: The International Bank for

Reconstruction and Development (IBRD)

lends to governments of middle-income and

creditworthy low-income countries. 188

members, Philippines - Dec 27, 1945

The International Development

Association (IDA) provides interest-free

loans called credits and grants to

governments of the poorest countries. 172

countries, Philippines - Oct 28, 1960 The International Finance Corporation

(IFC) a member of the World Bank Group is

the largest global development institution

focused exclusively on the private sector. We

help developing countries achieve

sustainable growth by financing investment,

mobilizing capital in international financial

markets, and providing advisory services to

businesses and governments. 184 countries,

Philippines - Aug 12, 1957

The Multilateral Investment Guarantee

Agency (MIGA) was created in 1988 as a

member of the World Bank Group to promote

foreign direct investment into developing

countries to support economic growth,

reduce poverty, and improve peoples lives.

MIGA fulfills this mandate by offering political

risk insurance (guarantees) to investors and

lenders. 179 countries, Philippines- Feb 8,

1994

The International Centre forSettlement of Investment Disputes

(ICSID) provides international facilities for

conciliation and arbitration of investment

disputes. 149 countries, Philippines - Dec 17,

1978

VMO

The World Bank group has two ambiguous

goals:

End extreme poverty by decreasing the

percentage of people living on less than

$1.25 a day to no more than 3%

Promote shared prosperity by fostering the

income growth of the bottom 40% for every

country

Membership

The World Bank is like a cooperative, made

up of 188 member countries. These member

countries, or shareholders, are represented

by a Board of Governors, who are the

ultimate policymakers at the World Bank.

Generally, the governors are member

countries' ministers of finance or ministers of

development. They meet once a year at the

Annual Meetings of the Boards of Governorsof the World Bank Group and the

International Monetary Fund.

To become a member of the Bank, under the

IBRD Articles of Agreement, a country must

first join the International Monetary Fund

(IMF). Membership in IDA, IFC and MIGA are

conditional on membership in IBRD.

Dr. Jim Yong Kim is the 12th president of

the World Bank Group. He was selected bythe Boards of Executive Directors for a five-

year renewable term in July 1, 2012.

Current Activities, Projects and

Programs

Improving Fuel Efficiency and

Reducing Emissions of Trucks in China

- In Guangdong, the World Bank is helping to

improve fuel efficiency and reduce emissions

of trucks, which use 30% more fuel than in

OECD countries.

Apply Now: The World Bank Group

Fellowship Program

- Ph.D. students of African descent,

particularly women, are eligible to apply for

the new World Bank Group Fellowship

Program

Global Burden of Disease: Generating

Evidence, Guiding Policy

- The World Bank Group has partnered with

the Institute for Health Metrics andEvaluation (IHME) to release six regional

reports as part of The Global Burden of

Disease: Generating Evidence, Guiding

Policy. The reports are based on the Global

Burden of Diseases, Injuries, and Risk Factors

Study 2010 (GBD 2010), a collaborative

effort of researchers from 50 countries


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around the world led by IHME at the

University of Washington.

World Bank Supports Efficient Public

Finance Management in Russia

- The World Banks Board of Directors

approved a US$50 million loan to co-finance

with the Russian Federation a US$133.571

million Public Finance Management Technical

Assistance Project in Russia.

Solar Power in Mongolia

Nomadic Mongolian herder families find a

source of affordable, portable electricity with

portable solar units that withstand their

rugged lifestyle. With help from the World

Bank, the solar program allows people living

in one of the remotest regions on Earth to

connect to a wider world.

Rwanda: Achieving Food Security,

Reducing Poverty, Moving up the ValueChain

Since 2001 Rwanda has worked closely with

IDA to achieve food security and increase

agricultural productivity - food security was

attained in 2010 and between 2000/01 and

2010/11 poverty was reduced by about 14

percent.

Vietnam: Disaster Risk Management

Project

The success of the World Bank pilot onCommunity-based Disaster Risk Management

(CBDRM) which had been implemented in 12

project provinces led the Vietnam

government to develop a National CBDRM

Program of US$450 million covering 6,000

communes across the country.

Uruguay Innovates to Achieve Better

Results in Road Infrastructure

The country becomes the first in the region

to use the new World Bank financing tool. In

three years, the program will repair 524

kilometers of road, bridges and drains, and

will improve signage along nearly 9,000

kilometers of roads. This initiative is also

being implemented in Morocco, Nepal,

Tanzania and Vietnam.

India: Extending Education to the

Millions of Out-of-School Children

The Sarva Shiksha Abhiyan (SSA) program,

backed by funds from the World Banks

International Development Association (IDA),boosted the enrolment of children from poor

families, marginalized, and tribal groups, and

those with special needs. Around 54 percent

of the children enrolled between 2003 and

2011 were girls. Now, the focus is on

boosting the quality of education, as well as

ensuring access for all.

Results 2013

Conclusion

We can say that The World Bank group is an

effective international organization since if

we look at its activities and projects, most of

it is successful. The World Bank Group has

11,741 projects in 172 countries; this

includes the Philippines with 198 projects. In

carrying out its VMO, the global poverty

indicators which are Poverty headcount ratio

at $1.25 a day (PPP)

(% of population) from 43.1% in 1990 is now

20.6% last 2010; and People living on less

than $1.25 a day (PPP) (millions) from 1,908

in 1990 to 1,215 again this last 2010. The

World Bank group also has helped many

countries in their development and progress.

Western Perspective

It is not that effective for them especially in

the U.S. because most of the countries in

U.S. are developed countries and the aim ofthe World Bank group is to help developing

countries. Although in Latin America, the

World Bank group has its projects there to

help them.

Philippine Perspective

Since 1957 when the government received

its first World Bank loan, the Bank has

financed critical infrastructure and rural

development needs that have produced

significant results for its citizens. Thesesignificant results include the recently

completed Metro Manila Urban Transport

Integration Project. In terms of reducing rural

poverty among agrarian reform beneficiaries,

the average household income of project

beneficiaries rose by 41% through the Bank-

funded Second Agrarian Reform

Communities Development Project wherein

124 communities benefited from it. In


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education, the Banks assistance through the

National Program Support for Basic

Education has provided financing for more

classrooms and textbooks. The Social

Welfare and Development Reform Project

also helped to bring about almost universal

enrolment (98%) for children from 6-11 years

old in project areas. This was made possible

through the governments conditional cash

transfer program called Pantawid Pamilyang

Pilipino Program or 4Ps. The Banks

assistance also extends to conflict-affected

areas in the country, providing classrooms,

health stations, access roads, water supply

systems and bridges, while at the same time

promoting social cohesion and more open

governance. In the water and sanitation

sector, the Bank has been supporting the

governments efforts to improve servicesacross the country by partnering with service

providers and local government units. Base

on all of these, The World Bank group is an

effective international organization for the

Philippines and it also helps in achieving the

Philippine Development Plan.

Group Members:Banasan, April Mae J.

Gonzales, Natacia Nicole

Mataa-ag, Devony

Quimado, Angela Jasmine

the world bank group (1)

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