The World Bank Cambodia Sub Project

The International Bank for Reconstruction and Development (I.B.R.D) better known as the World Bank was established at the same time as the International Monetary Fund to tackle the problem of International investment in 1944. Since the I.M.F was designed to provide temporary assistance in correcting balance of payments difficulties, there was need of an institution to assist long term investment purposes. Thus I.B.R.D was established for promoting long term investment loans on reasonable terms.

~ 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

Different organizations are formed worldwide but it is mostly their mandates that categorically define the role they play. Among the most recognized, organizations that follow under the control of United Nations get an upper hand and it’s particularly made possible by the powers and control these organizations possess. This article attempts to compare and contrast the United Nations Security Council with the World Bank drawing conclusions from their mandate, style of functioning, governance and organizational culture among the key elements considered. Although they have an international outlook, there are various features within the organizations that depict them as different while others reveal elements that they share and value in common.

Still today Cambodia is a forever changing society that faces many challenges. Cambodia is mostly poor but there is a distinguished majority that is somewhat wealthy. Many different religions, cultures, and ethnic groups have established colonization in Cambodia but they all have one thing in common…poverty. The Khmer Rouge created an everlasting effect on Cambodia that will most likely be a problem for many more years to come. (Hidayat, 2010)

International Development Association (IDA): The IDA was organized by the World Bank in 1960 to provide additional financial assistance to the poorest developing countries. In order to provide resources on better terms than those that are available from the World Bank, the IDA provides special "credits." These credits are zero-interest loans that have longer payment periods of 35 to 40 years and a grace period of ten years. These types of loans are offered to the poorest countries to help them pursue their development goals, sometimes despite disease and conflict.(The Levin Institute, n.d.).

The World Bank, created in 1944, was made to provide assistance to poverty-stricken or financially unstable countries around the world. Although it originated as an amazing idea, today the World Bank sometimes causes more harm than benefit in the countries that it intends to assist ("International Monetary Fund and World Bank," n.d.). One example of this is the Chixoy Power Project the World Bank funded in Guatemala. In 1978, the project was started " with the intent of “bringing development” to Guatemala" (Russell, 2015). However, this project leads to one of the most horrific genocides in Guatemalan history.

In Bretton Woods, New Hampshire, representatives from the Allied nations met to change that. The agreement they struck, known as the Bretton Woods system, provided what they believed to be the necessary infrastructure to facilitate this increasingly global economy. All currencies would have a set exchange rate, in gold-backed dollar terms. This would, in theory, make global transactions involving different currencies simple and easy to regulate. The International Monetary Fund was established to make sure that these exchanges ran smoothly and that countries could meet their obligations.

The world bank has the authority and ability to lend to countries, if these countries want to borrow. Borrowing from the bank is an important way for low and middle income countries to strengthen their economy as well as their overall standard of living.

In an effort to bring an end to world poverty the World Bank and IMF (International Monetary Fund) were established in 1944. Consisting of members from 44 nations “The Bank and the IMF are twin intergovernmental pillars supporting the structure of the world's economic and financial order”(Driscoll, 1996). In other words they are international economic organizations that grant loans to third world countries for development programs.

participants in this conference created three organizations to help regulate the international economy. The first is the International Monetary Fund (IMF) which was established with the idea of regulating monetary policy. One of the benchmarks of the IMF is the stabilization of exchange rates and the loaning of money to help stabilize countries with balance of payments deficits. The second organization established was the General Agreement on Tariffs and Trade (GATT) whose main focus was on a liberal trading order.

In July 1944, delegates from forty-four countries met in Bretton Woods, New Hampshire for a conference. The meeting established the Bretton Woods System, a series of financial international organizations, such as the World Bank and the International Monetary Fund. In 1945, twenty-nine countries signed the Articles of Agreements, which gave birth to the IMF. The

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.

The Bretton Woods Conference in 1944 spawned two IFIs, the International Monetary Fund (IMF) and the World Bank, in order to rebuild a

The World Bank and the IMF are collectively known as the Bretton Woods institutions. They were formed at a conference in Bretton Woods in New Hampshire with the aim to addressing concerns to do with stability of world economic markets. IMF is mainly tasked with offering surveillance, financial aid and technical assistance. IMF has 187 member states who each appoint a representative to the IMF’s board of Governors. The World Bank has its voting power controlled by the USA and it was built with the main aim of “reducing poverty in middle-income and creditworthy poorer countries by promoting sustainable development through loans, guarantees, and non-lending which includes analytical and advisory services.”

The MDGs identify—and quantify—specific gains that could be made to improve the lives of the world’s poor people. Their aim is to reduce poverty while improving health, education, and the environment. These goals were endorsed by 189 countries at the September 2000 UN Millennium General Assembly in New York. They focus on significant, measurable improvements for the efforts of the World Bank Group, governments, other international organizations, and other partners in the development community. The MDGs grew out of the agreements and resolutions that have resulted from world conferences organized by the UN in the past 10–15 years. Each goal is to be achieved by 2015, with progress to be measured by comparison with 1990 levels. Although the