What exactly is the "World Bank"?
Answer:
According to the website..
The World Bank works to bridge this divide and turn rich country resources into poor country growth. One of the world’s largest sources of development assistance, the World Bank supports the efforts of developing country governments to build schools and health centers, provide water and electricity, fight disease, and protect the environment.
Not a bank, but rather a specialized agency. The World Bank is not a “bank” in the common sense. It is one of the United Nations’ specialized agencies, and is made up of 184 member countries. These countries are jointly responsible for how the institution is financed and how its money is spent. Along with the rest of the development community, the World Bank centers its efforts on reaching the Millennium Development Goals, agreed to by UN members in 2000 and aimed at sustainable poverty reduction.
The "World Bank" is the name that has come to be used for the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Together these organizations provide low-interest loans, interest-free credit, and grants to developing countries.
This is just a summary, see the site for more info
The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on the 27 December 1945 following the ratification of the Bretton Woods agreement. The concept was originally conceived in July 1944 at the United Nations Monetary and Financial Conference in July 1944. Two years later the Bank issued its first, and largest, loan; $250 million to France for post-war reconstruction; an issue which has remained a primary focus, alongside reconstruction after natural disasters, humanitarian emergencies and post-conflict rehabilitation needs affecting developing and transition economies.
Are you planning on robbing it?
ok
These links should provide you with adequate details :
http://web.worldbank.org/wbsite/external...
http://web.worldbank.org/wbsite/external...
and
http://en.wikipedia.org/wiki/world_bank...
Sound like a question from the bible? a one world gov't suppose to arrive w/ 1 world money system (bank)It's all suppose to be so that the world will honor the anti christ -A lot of banking now done in Switzerland which is where the united nations are as you see we now have euro dollars it's only a beginning But a good question should bring alot of debate
to get fund for reconsruction and development washington major developed countries like usa uk ussr france etc no defaulters but they some extra time to repay
The World Bank is located in downtown Washington, DC, just a couple of blocks from the White House. Every so often, a bank robber comes in expecting to rob a bank but only finds another government office building.
Like many so called "non-profit" organizations, the World Bank has changed its objectives a number of times over the last 60 years in order to justify its existence and the high salaries of its employees. The WB sells bonds on international financial markets and reloans the money to poor countries. Because investors think that all the rich countries stand behind the WB and guarantee its debt, it can borrow money at low interest rates, i.e. its bonds pay a low rate of interest. The WB can then add on a small markup to cover its expenses and then reloan the money to poor countries at a rate of interest lower than they could borrow on their own.
Even though the markup is small, it provides a very generous level of revenue to the WB. The WB pays high salaries to its staff arguing that it must be able to compete for staff from any country in the world.
Like many other "non-profit" organizations, one wonders whether the WB's main objective is helping poor countries or helping its own staff. The unofficial motto of the WB staff is "getting rich by helping the poor."
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