Evaluating The Effectiveness Of World Bank Programs During Sub Saharan Africa Effective Or Ineffective?

Several developing countries are sunk in debt and poverty because of the arrangements of global establishments, for example, the International Monetary Fund (IMF) and the World Bank. Their projects have been vigorously reprimanded for a long time and have been constantly blamed for poverty. Moreover, developing countries have been in constant expanded reliance on the wealthier countries, despite the IMF and World Bank's claim that their main goal is to fight poverty (Shah, 2013). During recent decades, the poorest nations on the planet have needed to swing progressively to the World Bank and IMF for money related help, because their impoverishment has made it unthinkable for them to acquire somewhere else. The World Bank and IMF connect strict

WORLD BANK: governments play an important role in development, but there is no simple set of rules telling them what to do.

~ Today the bank functions as an international organization that attempts to fight poverty by offering developmental assistance to middle and poor-income countries. By giving loans, and offering advice and training in both the private and public sectors, the World Bank aims to eliminate poverty by helping people

In the case of the proposal to fund Brazil with dams, irrigation, power, roads, and funds to develop crops the World Bank has those funds. As a representative of the World Bank, this proposal is currently not very wise and the impact it will have on the people of Brazil will not be a positive one, and that it will not yield a great return to the World Bank unless some adjustments to the proposal are made.

International development and underdevelopment are major issues in global society today. John Perkins’ book The New Confessions of an Economic Hit Man is a very critical account on the activities of private corporations such as MAIN and international financial institutions such as the World Bank and the International Monetary Fund and how many actions are based on self-interest, corruption and greed. The book does an exceptional job at giving us an insider’s perspective on why debt induced developing nations are in a constant state of underdevelopment from the corrupt actions of Economic Hit Men and their colleagues Jackals who deal with the dirty side of the business and political economics. Global economics and debt have

Every year sub-Saharan Africa receives around $134bn in loans, foreign investment and development aid, according to the UN. Nonetheless, sub-Saharan Africa is still the poorest region in the world. For many years the international community has debated over the reasons why every year billion and billions of dollars are not taking sub-Saharan Africans out of poverty. Three major groups have prevailed in the discussion. First, the people who totally blame Africa for not doing its job right, completely forgetting that most of the funds are not administrated by Africans. Second, the people who believe that even though aids are not working, the international community should keep investing funds in Africa even if is failing; one day they will work.

This never-ending cycle of debt is the reality for most, if not all of Third World countries. In the 1970’s, Western banks loaned out huge sums of money to Third World nations with the intention of one day making profit. And they succeeded.

Ranging from the UN World Food Program to Oxfam, initiatives aim at improving conditions for those trapped in poverty, alleviating hunger and malnourishment, as well as enable individuals to become self-sustainable. Some of the programs and assistance provided to countries is not without drawbacks and criticisms. For instance, World Bank and IMF development assistance has been accused of interfering with countries’ ability to manage affairs sovereignly (e.g. conditions attached to the receipt of aid). Likewise, US AID assistance comes with foreign policy attachments that may not always be appreciated. Furthermore, even though NGOs are becoming more mindful of local conditions and cultures, they inadvertently promote western perceptions concerning human rights and values. Yet, despite differences in goals, approaches, and other aspects at appears reasonable to expect sustained, cooperative efforts to reduce poverty. The cynic may argue that nations pursue self-serving goals and aim to distract citizens from internal problems, while NGOs’ involvement justifies their existence…

Africa has been the largest recipient of American financial aid for many years now and is thus up for examination as to whether this money is being used efficiently. Foreign aid is a humanitarian necessity in developing countries because it eliminates immediate suffering, helps to prevent this suffering in the long run through administration of medical, hygienic and educational essentials, and gives countries the capacity to have a stance in the international market through economic growth. There is clear evidence of why the USA and others should continue providing financial aid to developing regions in Africa.

Angry protesting, political upset, governments falling, privatization failing, and money lost are a few outcomes that influence the public opinion on the World Bank, and its involvement in many underdeveloped countries. While the World Bank claims that reducing poverty across the globe is its foremost priority, many opponents believe that it is responsible for increasing poverty. The World Bank is a multifaceted organization that loans money to government around the world for development.

Foreign aid has a long track record. The biggest upside appears to be the injection of large sums of money into developing countries otherwise gripped by poverty, war and conflict. In theory, the funds should improve lives and raise people out of poverty, leading to sustainable growth and development. The unfortunate truth, however, is that foreign aid has often presented more challenges than opportunities to aid recipients. Aid has been mandated by government versus relying solely on private donations. We’ve seen small improvements across the globe, from reducing poverty to slowing population growth to curing and preventing diseases. Progress that otherwise would have been absent without an outpouring of foreign support (Tan Keo, 2013).

Focusing on the institutions such as the International Monetary Fund and the World Bank, we can cite several occasions in which their influence has shaped global politics, whether for selfish or selfless motivations. The concept of poverty alleviation

Most of the developing countries are mired deeply in economical obstacles, which prevent them from development significantly. In order to overcome those embarrassments world’s society struggles to find the efficient solution for poor countries’ economies. Historically, developed countries undertook policy of giving aid to their colonies, afterwards by the end of The Second World War the United States and United Nations embarked the global sponsorship to the developing countries and countries of the Third World due to humanitarian considerations. Since then many other countries have joined in the effort to provide financial aid to lesser developed or poverty ridden countries. But none of those countries that received an aid had experienced a prosperity phase and rapid economic growth.

Harvard Business School’s Case Study “Aid, Debt Relief, and Trade: An agenda for fighting World Poverty” outlines the steps, and missteps, that the world community has taken since World War II to address the efficacy of international assistance. The study focuses on international financial institutions (IFIs) and their ability to help poor nations break out of poverty and the possible obligations of rich, developed countries to assist the heavily indebted poor countries (HIPCs). Additionally, the study seeks to see if this assistance has been and can be parlayed into growth and investment for the HIPCs.

Humanitarian rush to save the starving children, fleeing refugees, marginalized women, generally, to diminish crisis worldwide is often a straightforward response which can cause bigger dilemmas. Financial aid can alter the self determination in the developing country; food donations are likely to destroy the local economy making aid a permanent matter. It is likely that governments may use humanitarian relief to not intervene military. The unknown level of corruption in certain developing countries may land the aid into the wrong hands. The lack of accurate and visible data available worldwide may cause inconsistency in statistics which could cause issues in preventions later on. Lastly, the self interests of governments may interrupt