World bank Group essays

World bank Group essays The World Bank is not a bank in the common sense; it is an agency made up of 184 member countries. These countries are jointly responsible for how the institution is financed and how money is spent along with the rest of the development of the community. The World Bank supports both developed and developing countries with lending guaranteed analytic and advisory work, debt relief, capacity enhancement, global monitoring and advocacy. Their goals are to eradicate poverty and hunger, achieve universal primary education, promote gender equality, reduce child mortality, combat deadly diseases, ensure environmental sustainability, and develop a global partnership for development. The World Bank's poverty reduction strategy is based on building the investment climate and investing in poor people. They offer different types of financing projects. These projects include low interest loans, interest free credit, and grants, which come from 40 rich countries donors that contribute money every 4 years to these developing countries. The money that is borrowed by the governments has to be used for specific programming in poverty reduction, delivery of social services, environmental protection, or economic growth. There are two types of borrowers: the middle-income countries and the heavily indebted poor countries. The borrower first identifies and prepares a project proposal to the bank for it to be reviewed, then negotiate and agree on the development objectivity, components, outputs, performance, indicators, implementation plan and a schedule disbursing loan funds. The World Bank considers themselves to have achieved success over their program, but they feel there is much more work to be needed in poor countries. Their objective is to eradicate extreme poverty in all nations. This group has a disclosure policy that allows the public to view what they do because they believe in an anticorrupt ...