What is World Bank?
Historical Background
Key Points
8 points- 1.
Provides financial and technical assistance to developing countries
- 2.
Focuses on reducing poverty and promoting shared prosperity
- 3.
IBRD offers loans to middle-income and creditworthy low-income countries
- 4.
IDA provides interest-free loans and grants to the world's poorest countries
- 5.
Publishes reports and research on global economic development, including Ease of Doing Business and World Development Report
- 6.
Governance structure: Owned by its 189 member countries
- 7.
Decision-making power is based on member countries' shareholding
- 8.
Criticized for its conditionality policies and impact on developing countries
Visual Insights
World Bank: A Historical Overview
Key events in the history of the World Bank.
The World Bank has evolved from post-war reconstruction to a global development institution.
- 1944Bretton Woods Conference: World Bank (IBRD) established
- 1960International Development Association (IDA) established to focus on poorest countries
- 1980sShift towards structural adjustment programs
- 2000sIncreased focus on poverty reduction and sustainable development goals
- 2020COVID-19 pandemic response: Financial assistance to affected countries
- 2026Government seeks World Bank funding for ₹57,000 Crore Drainage Plan
World Bank: Key Aspects
Mind map illustrating the key aspects and functions of the World Bank.
World Bank
- ●Structure
- ●Functions
- ●Reports
- ●Criticisms
Recent Developments
5 developmentsIncreased focus on climate change and sustainable development
Efforts to mobilize private sector financing for development projects
Response to the COVID-19 pandemic, providing financial assistance to countries in need
Reforms to improve the effectiveness and efficiency of its operations
Debate on the role of the World Bank in a changing global landscape