world bank - Jessica Robe Political Science 5 11/11/06 The...

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-1Jessica Robe Political Science 5 11/11/06 The World Bank The World Bank is an intergovernmental organization which seeks to provide financial assistance and guidance to developing nations as part of an effort to fight poverty and world hunger. The World Bank has a presence in over 100 developing countries, and its resources are supplied by five smaller organizations whose ownership is divided amongst 184 countries in total. However, despite having immense resources, both in monetary terms and in brainpower, the World Bank, we shall see, often falls short of its stated purpose. The official name of the organization is the World Bank Group, because it’s actually comprised of five smaller organizations, mainly the International Bank for Reconstruction and Development and the International Finance Corporation, as well as the International Development Association, Multilateral Investment Guarantee Agency, and the International Centre for Settlement of Investment Disputes. The World Bank was born of the Uunited Nations Monetary and Financial Conference, which took place in Bretton Woods, New Hampshire, in July, 1944. The Bank came into the form as we know it today ion December 27 of the following year, when the Bretton Woods agreements were internationally ratified by 45 countries. It officially opened for business on June 25, 1946, and offered its first loan to France, in the
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amount of $250 million to aid with post-WWII reconstruction. The goal of the World Bank was to focus on furthering flawed aspects of regional
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world bank - Jessica Robe Political Science 5 11/11/06 The...

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