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GEOG130 Lecture15_NGO

GEOG130 Lecture15_NGO - World Organizations Lecture 15 KEY...

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World Organizations Lecture 15
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KEY TERMS Who are the players? 1. The World Bank Group includes four key international institutions in development: Bank for Reconstruction and Development (IRBD), 1944. The International Development Association (IDA), 1960. The International Finance Corporation (IFC), 1956. Multilateral Investment Guarantee Agency (MIGA), 1988. 2) International Monetary Fund (IMF): The IMF was established, along with the International Bank for Reconstruction and Development, at the UN Monetary and Financial Conference held in 1944 at Bretton Woods, New Hampshire. 3) United Nations (UN) was signed in 1945 by 51 countries and by 2003 it had 191 members. 4) World Trade Organization (Formerly GATT and now WTO): was established in 1948 when the General Agreement on Tariffs and Trade (GATT) was ratified by 23 countries.
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World Bank The world bank in 1999 was the major source of financing for development in the developing countries. With 1,900 projects worth over $148 billion dollars. What is the purpose of the bank? 1. “to assist in the reconstruction and development of territories of members… 2. facilitate the investment of capital for productive purposes… 3. to promote private foreign investment by means of guarantees or participation in loans…. 4. to supplement private investment by providing, on suitable conditions.
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World Bank How can a country become a member? Members have to purchase shares that are worth about ($120,000 each) The minimum number of share that a member nation must purchase varies of their national economy. How can a country obtain a loan? 1. You have to be a member 1. Advisers and experts representing the bank analyze the prospective borrower can meet conditions stipulated by the bank. The conditions are designed to ensure that loans will be used efficiently and they will be repaid.
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World Bank How can a country obtain a loan? 3. The borrower must be unable to secure loans from an outside source. 4. The borrower must show that the project is technical feasible and economically sound. 5. To ensure repayment, the borrower must guarantee repayment. After the loans has been issued the World Bank requires updates on the projects.
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World Bank How does the World Bank work? Not all the money is deposited only 8.5%; the remaining money is only to deposited when is needed. The Bank working funds are derived from Sales of interest-bearing bonds Notes in capital markets of the world Repayment of earlier loans From profits on its operations.
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World Bank How does the World Bank work? The World Bank has earned Profit every year since 1947!!!!!!!!! Unlike commercial banks, the World Bank takes no financial risks since its loans are to governments with whom it has “preferred creditor” status (credit rating) It is estimated that for every US dollar the US government has invested in the World Bank, US companies have received back $1.10. (10% return).
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