World Bank Group
The World Bank Group is a group of five international organizations responsible for providing finance and advice to countries for the purposes of economic development and eliminating poverty. The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1 July - 22 July 1944). Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 ($250m to France for postwar reconstruction, in real terms the largest loan issued by the Bank to date). Its five agencies are:
* International Bank for Reconstruction and Development (IBRD)
* International Finance Corporation (IFC)
* International Development Association (IDA)
* Multilateral Investment Guarantee Agency (MIGA)
* International Centre for Settlement of Investment Disputes (ICSID)
The World Bank's activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation, rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, electricity), and governance (e.g. anti-corruption, legal institutions development). The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the economy. For example, a loan to improve coastal environmental management may be linked to development of new environmental institutions at national and local levels and to implementation of new regulations to limit pollution.
The activities of the IFC and MIGA include investment in the private sector and providing insurance respectively.
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries.
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WELCOME TO INTERNATIONAL CAPITAL FUND
The key problem is to find out why some sector of society, which I would hesitate to call capitalist, should have lived as if in a bell jar, cut off from the rest; why was it not able to expand and conquer the whole of society? Why was it that a significant rate of capital formation was possible only in certain sectors and not in the whole market economy? Let's try to respond those questions and offer solutions. Let's open the door to democratic capitalism with opportunities for everybody.
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