WB, IDB and CDBs contribution to education in the Region
Through loans, innovative financial solutions, policy advice and technical assistance, the World Bank supports a broad range of programmes aimed at reducing poverty and improving living standards in the developing world. Working through the International Bank for Reconstruction and Development and the International Development Association, the Bank uses its financial resources, skilled staff, and extensive knowledge base to help developing countries generate opportunities, enhance growth and create individual opportunity. The Bank has six regional vice presidencies: Sub-Saharan Africa, East Asia and Pacific, Europe and Central Asia, the Middle East and North Africa, South Asia and
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Moreover, the mission statement of the Latin American and Caribbean vice presidency is to help the Region achieve sustained growth and provide their citizens with equal opportunity for all access to jobs, services, and assets; reduce poverty and inequality; and strengthen natural resource management.
Consequently in 2011, the Bank launched a new Education Sector Strategy 2020, entitled “Learning for All”. The strategy recognizes that learning drives development and encourages countries to invest early (because foundational skills acquired early benefit lifelong learning), smartly (in efforts proven to improve learning), and for all (focusing not only on privileged but on all students). To achieve learning for all, the Bank Group is promoting country-level reforms of education systems, and building a global knowledge base to guide reforms. Subsequent to the development of the Education Strategy, the World Bank has become the largest external education financier for developing countries, managing a portfolio of US$11 billion, with operations in 78 countries as of April 2012. According the World Bank Group Report A-Z (2016), the Bank supports education through an average of US$3 billion in new financing a year, with more than 50 percent of new commitments made through IDA which channels about 12 percent of its financing to education.
Further, the World Bank 's share of annual lending
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.
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.
In june of 2012, the world bank committed about $52.6 billion in loans, grants, equity investments, and helps in promoting economic growth, poverty and economic enterprise. The IMF promotes international monetary cooperation and also provides policy advice and technical assistance which helps countries maintain strong economies. The world bank promotes long term economic development and poverty reduction by providing technical/financial support to help countries reform.
aim of the World Bank, on the other hand, is to advance reconstruction and promote longterm economic growth in less developed countries2.
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
My work experience as a World Bank employee in 2014 solidified my interest in developing a career with the bank. I worked with three senior economists in the Development Economics Research Group on a research paper about the effect of long-term financing on economic growth for the Global Financial Development Report 2015. My stay with the World Bank was truly exciting for me because I learnt first-hand how the bank’s culture and operations, as well as
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.
efore zeroing in on the World Bank Cambodia Sub-project, a quick review of the World Bank Group (WBG), vis-a-vis its structure, mission’s statement, and criticisms would critical in analysing the project.
lies in the culture of the World Bank. From the very recruitment of its staff
The World Bank is an international financial institution that provides loans to countries of the world for capital programs. The World Bank Group has set two goals for the
The World Bank exerts its economic means to provide developing countries with loans to help them reduce poverty and promote development. The World Bank focuses on Global South, especially Africa, offering “champion education” to “Africa’s fast-growing youth population” (World Bank, 2014). The loans support the policy implementation with adequate funds, giving young people more opportunities to access to education, offering universities more funds to maintain the quality of higher education, and attracting more talents to devote themselves in education career. However, the loans are with conditions. Only when the countries accept the conditions and obey the rules, formulating the policy based on the World Bank’s requirements and the ideas that the World Bank advocates, can they receive the funds assistant. This severely violates the sovereignty of the nation. From this view, the World Bank is acting as a dictator, pushing down its ideas, piloting in the
As history goes, the International Monetary Fund and its fraternal institution, The World Bank were created in 1944 after the second world war to rebuild Europe and its surrounding poor western countries. As stated “The Bank 's first loans were extended during the late 1940s to finance the reconstruction of the war-ravaged economies of Western Europe”(Driscoll, 1996). But these funds were later extended to other poor countries who may need help with a boost in economy. This is what later became of the world bank 's responsibility towards lending helping hand to poor countries. The IMF website state that “The
The international financial institutions (IFIs) are central pillars and the architects of the global economy. The world bank and IMF were founded and funded by the United Nations at that time towards the end of the second world war to build devastated world economy after the war and great economy collapse of the 1930s. The IFIs were to help the economy of the less developing countries (LDCs) to bring about growth, development and integration. In the scope of this paper, I have picked Zimbabwe to shine some light on what these global economic pillars are capable of doing.
□ The World Bank and the International Monetary Fund (IMF) which are meant to assist governments in achieving development aims through the provision of loans and technical assistance
The World Bank Group has set two goals for the world to achieve by 2030: To end extreme poverty by decreasing the percentage of people living on less than $1.90 a day to no more than 3% and to promote shared prosperity by fostering the income growth of the bottom 40% for every country, which the organization is trying to achieve via low-interest loans, zero to low-interest credits, and grants to developing countries (“What We Do,” n.d.). The World Bank’s moto is “Working for a World Free of Poverty” with the caveat of “do no harm”’; however, what is left in their wake in many cases is heartbreak and devastation. My task with this paper is to address a project of the World Bank in Nigeria that created problems for the nation, and especially the people therein, that received its assistance.