Choose one international economic organisation such as World Bank and examine their policies and performance in relation to LDCs

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Topic 10

Choose one international economic organisation such as World Bank and examine their policies and performance in relation to LDCs

Introduction

All the people have been heared about the World Bank. But i think that too many of them don´t know what are its roles.

World Bank was founded on in 1941 by 44 countries with the target of helping to reconstruct a big part of Europe devastated by the Second World War. It was born during the agreenment of Bretton Woods.

In these days WB is formed by 184 members It is divided in five organizations, , , ,  and . They work in different topics. The first one takes charge of the reconstruction and development, the second one is the association for development, the third about the financiation, the fourth is the agency that guarantees the multilateral investment and the fifth is the centre for settlement of investment disputes.

Unfortunately all the world has been witness of the horrible tsunami in the Indian Ocean. This is a clear example of the existence of this organization. Naturally we will see the power of World bank trying to help the enormous quantity of victims, trying to reconstruct the worse areas and to give a financial stability to the implicated countries.

In accordance with the title of the essay I will examine the policies of World Bank and its implications in the LDCs principally and then I will put some critics to the World Bank.

Finally I´ll give my personal opinion over this topic in the conclusion of this essay.

World Bank policies

The principal target of World Bank is to promove investment proyects for the promotion of economic development giving special interest to the participation of private agents and helping the mechanisms of market. -“The Bank has sucesfully `integrated´ the Third World with develop capitalist countries by opening routes of penetration through its `aid for development´which is conmitted to the growth of productive forces in the private sector. The Bank has acted as a `bridge´ between two sides of the world, in wich the domination of the dominant side has been perpetuated by centralizing and internationalizing of foreign aid”- (World Bank and India;Author: C.P. Bhambhri).

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 The evolution of the policies of WB is the next. First of all the country develop strategies to reduce poverty and help to the economic development. Secondly the project continues through of a stage of evaluation, financiation and identification. Then the WB knows if the proyect will be good evaluating it economically, financially, socially and environmentally. Finally the Bank evaluates the goals and failures of the project.

        In this essay the principal question is about the policies. They take charge of the third stage, the economic, financial, social and environmental evaluation.

        The WB try to develop different topics that ...

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