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The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American. [12] The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
The Pearson Commission on International Development investigated the effectiveness of the World Bank's development assistance in the 20 years to 1968 and made recommendations for future operation of the organization.
This research – which was published notably in the 1974 book Redistribution with growth – helped the Bank move to a more poverty-focused approach in the mid- and late 1970s. [4] Chenery's work was wide-ranging but might be summarised as involving the analysis of patterns of development, the use of a two-gap model and multi-sectoral analysis ...
World Bank Group's Franziska Ohnsorge joins Yahoo Finance Live to discuss inflation, recessionary risks, rising rates, and the outlook for the global economy.
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
From the 1940s to the 1960s the state played a large role in promoting industrialization in developing countries, following the idea of modernization theory. This period was followed by a brief period of basic needs development focusing on human capital development and redistribution in the 1970s.
A man-made disaster in eastern Brazil in the late 1970s helped prompt the World Bank to adopt its first systematic protections for people living in the footprint of big projects. Rising waters upstream from the Sobradinho Dam, built with World Bank financing, forced more than 60,000 people from their homes.
The World Bank Treasury is the division of the IBRD that manages the Bank's debt portfolio of over $100 billion and financial derivatives transactions of $20 billion. [21] The Bank offers flexible loans with maturities as long as 30 years and custom-tailored repayment scheduling. The IBRD also offers loans in local currencies.