PS147WB - World Bank 4 Major Organizations within World...

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World Bank 4 Major Organizations within World Bank (focus on two) International Bank for Reconstruction and Development (largest sub group) International Development Association (1960) Goals Primary Goal: Promote post war reconstruction (in Europe) Second Goal: Promote development (became primary after reconstruction) Establish a new (post war) order Avoid economic problems that happened in the inner war period How World Bank’s approach to development Initial approach was just to address poverty Then approach switched to addressing economic growth (modernity) o Backlash to that then approach back to basic needs Now, promotion of economic activity with governance and long term social indicators o It does this by developing human capital, improving health, and education. How World Bank Concedes Development? World Bank essentially gives money out to the poor o Gives out loans with longer repayment periods at interest rates that are at or slightly below market rates o In addition to giving out loans tries to study what causes impact of poverty and hire experts for assistance to implement programs o Not just giving money but gives help of how to use that money to try to promote long term economic development o Includes money and projects focusing on infrastructure as well as business development, government institutions IDA (second organization within World Bank) o Created in 1960s with specific goal to give out loans with longer repayments and
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