The World Bank Group Mission
The IMF and the world bank were established after world war II as mutual organizations through which member countries could help each other with post war reconstruction and development ,
The voting and governance structure of both organization reflect the early vision .
Today however , both lend only to developing and transition countries and both condition their lending heavily on broad changes in borrower’s economic policies , increasing intrusiveness of institution work changing the nature of their relationships with stake holders.
The World Bank Group mission
-fight poverty
-improve living standards of people in the developing world
-development bank which provides loans , policy advise , technical assistance & knowledge sharing services to low and middle income countries to reduce poverty.
-promote growth to create jobs and empower poor people to take advantage of these opportunities.
One of the most powerful instituitional mechanism of contemporary global governance
Changing shape of bank policies and practices
The bank’s Neoliberalism
Established in 1944 , commence in 1946 , issued 1st loan of US$250 million to france in 1947 for post war reconstruction
Initial focus on war , conflict and reconstruction of its post conflict member states
Throughpromotion of trade , private investment and equilibrium in balances of payments
During 2004 the bank issued US$20.1 billlion in development funding : shift in emphasis in bank discourse
During second half of 1990s , shifted focus from one of restoring war torn economies to one that focus on poverty reduction as the overarching goal of its work .
D.wolfensohn (1995-2005) : comprehensive development framework designed to enhance contry ownership of bank policies , contemporary neoliberal ‘good governance discourse’ : reduction of global poverty , knowledge sharing , capacity building and partnership forging between the public and private sectors
Strong element of bank policy making
The bank has
The voting and governance structure of both organization reflect the early vision .
Today however , both lend only to developing and transition countries and both condition their lending heavily on broad changes in borrower’s economic policies , increasing intrusiveness of institution work changing the nature of their relationships with stake holders.
The World Bank Group mission
-fight poverty
-improve living standards of people in the developing world
-development bank which provides loans , policy advise , technical assistance & knowledge sharing services to low and middle income countries to reduce poverty.
-promote growth to create jobs and empower poor people to take advantage of these opportunities.
One of the most powerful instituitional mechanism of contemporary global governance
Changing shape of bank policies and practices
The bank’s Neoliberalism
Established in 1944 , commence in 1946 , issued 1st loan of US$250 million to france in 1947 for post war reconstruction
Initial focus on war , conflict and reconstruction of its post conflict member states
Throughpromotion of trade , private investment and equilibrium in balances of payments
During 2004 the bank issued US$20.1 billlion in development funding : shift in emphasis in bank discourse
During second half of 1990s , shifted focus from one of restoring war torn economies to one that focus on poverty reduction as the overarching goal of its work .
D.wolfensohn (1995-2005) : comprehensive development framework designed to enhance contry ownership of bank policies , contemporary neoliberal ‘good governance discourse’ : reduction of global poverty , knowledge sharing , capacity building and partnership forging between the public and private sectors
Strong element of bank policy making
The bank has