World Bank

The World Bank (French: Banque mondiale)[5] is an

international financial institution that provides loans
and grants to the governments of poorer countries
for the purpose of pursuing capital projects.[6] It
comprises two institutions: the International Bank
for Reconstruction and Development (IBRD), and
the International Development Association (IDA).
The World Bank is a component of the World Bank
Group.

The World Bank's most recent stated goal is the

reduction of poverty.[7] As of November 2018, the
largest recipients of World Bank loans were India
($859 million in 2018) and China ($370 million in
2018), through loans from IBRD.[8][9]

World Bank Group

The World Bank Group is an extended
World Bank
family of five international
organizations, and the parent
organization of the World Bank, the
collective name given to the first two
listed organizations, the IBRD and the
IDA:
The World Bank
International Bank for Group building in
Reconstruction and Development Washington, DC

(IBRD) Motto Working

for a
 International Development World
Association (IDA) Free of
Poverty
International Finance Corporation Formation July 1944
(IFC) Type Monetary
Multilateral Investment Guarantee International
Agency (MIGA) Financial
Organization
International Centre for Settlement
of Investment Disputes (ICSID) Legal Treaty
status
History Headquarters 1818 H
Street N
Washing
 D.C.,
U.S.[1]
Membership 189
countries
(IBRD)[2
173
countries
Harry Dexter White (left) and John Maynard
Keynes, the "founding fathers" of both the (IDA)[2]
World Bank and the International Monetary Key David
Fund (IMF).[10] people
Malpass
(President)[3]
The World Bank was created at the Anshula
1944 Bretton Woods Conference, Kant
(Managing
along with the International Monetary
Director and
Fund (IMF). The president of the
Chief
World Bank is, traditionally, an
Financial
American.[11] The World Bank and
Officer)
the IMF are both based in
Penny
Washington, D.C., and work closely Goldberg
with each other. (Chief

Parent Economist)[4]
World
organization
Bank
Group
The Gold Room at the Mount Washington Hotel where the
International Monetary Fund and World Bank were established

Although many countries were represented at the

Bretton Woods Conference, the United States and
United Kingdom were the most powerful in
attendance and dominated the negotiations.[12]:52–54
The intention behind the founding of the World
Bank was to provide temporary loans to low-income
countries which were unable to obtain loans
commercially.[7] The Bank may also make loans and
demand policy reforms from recipients.[7]

1944–1974 …

In its early years the Bank made a slow start for two
reasons: it was underfunded, and there were
leadership struggles between the US Executive
Director and the President of the organization.
When the Marshall Plan went into effect in 1947,
many European countries began receiving aid from
other sources. Faced with this competition, the
World Bank shifted its focus to non-European
countries. Until 1968, its loans were earmarked for
the construction of infrastructure works, such as
seaports, highway systems, and power plants, that
would generate enough income to enable a
borrower country to repay the loan. In 1960, the
International Development Association was formed
(as opposed to a UN fund named SUNFED),
providing soft loans to developing countries.
Before 1974, the reconstruction and development
loans provided by the World Bank were relatively
small. The Bank's staff were aware of the need to
instill confidence in the bank. Fiscal conservatism
ruled, and loan applications had to meet strict
criteria.[12]:56–60

The first country to receive a World Bank loan was

France. The Bank's president at the time, John
McCloy, chose France over two other applicants,
Poland and Chile. The loan was for
US$250 million, half the amount requested, and it
came with strict conditions. France had to agree to
produce a balanced budget and give priority of debt
repayment to the World Bank over other
governments. World Bank staff closely monitored
the use of the funds to ensure that the French
government met the conditions. In addition, before
the loan was approved, the United States State
Department told the French government that its
members associated with the Communist Party
would first have to be removed. The French
government complied and removed the Communist
coalition government - the so-called tripartite.
Within hours, the loan to France was approved.[13]

1974–1980 …

From 1974 to 1980 the bank concentrated on

meeting the basic needs of people in the developing
world. The size and number of loans to borrowers
was greatly increased, as loan targets expanded
from infrastructure into social services and other
sectors.[14]
These changes can be attributed to Robert
McNamara, who was appointed to the presidency in
1968 by Lyndon B. Johnson.[12]:60–63 McNamara
implored bank treasurer Eugene Rotberg to seek out
new sources of capital outside of the northern banks
that had been the primary sources of funding.
Rotberg used the global bond market to increase the
capital available to the bank.[15] One consequence
of the period of poverty alleviation lending was the
rapid rise of Third World debt. From 1976 to 1980,
developing world debt rose at an average annual
rate of 20%.[16][17]
The World Bank Administrative Tribunal was
established in 1980, to decide on disputes between
the World Bank Group and its staff where allegation
of non-observance of contracts of employment or
terms of appointment had not been honored.[18]

1980–1989 …

McNamara was succeeded by US President Jimmy

Carter's nominee, Alden W. Clausen, in 1980.[19][20]
Clausen replaced many members of McNamara's
staff and crafted a different mission emphasis. His
1982 decision to replace the bank's Chief
Economist, Hollis B. Chenery, with Anne Krueger
was an example of this new focus. Krueger was
known for her criticism of development funding and
for describing Third World governments as "rent-
seeking states".

During the 1980s the bank emphasized lending to

service Third-World debt, and structural adjustment
policies designed to streamline the economies of
developing nations. UNICEF reported in the late
1980s that the structural adjustment programs of
the World Bank had been responsible for "reduced
health, nutritional and educational levels for tens of
millions of children in Asia, Latin America, and
Africa".[21]

1989–present …

Beginning in 1989, in response to harsh criticism

from many groups, the bank began including
environmental groups and NGOs in its loans to
mitigate the past effects of its development policies
that had prompted the criticism.[12]:93–97 It also
formed an implementing agency, in accordance
with the Montreal Protocols, to stop ozone-
depletion damage to the Earth's atmosphere by
phasing out the use of 95% of ozone-depleting
chemicals, with a target date of 2015. Since then, in
accordance with its so-called "Six Strategic
Themes", the bank has put various additional
policies into effect to preserve the environment
while promoting development. For example, in 1991
the bank announced that to protect against
deforestation, especially in the Amazon, it would not
finance any commercial logging or infrastructure
projects that harm the environment.

In order to promote global public goods, the World

Bank tries to control communicable disease such as
malaria, delivering vaccines to several parts of the
world and joining combat forces. In 2000 the bank
announced a "war on AIDS" and in 2011 the Bank
joined the Stop Tuberculosis Partnership.[22]

Traditionally, based on a tacit understanding

between the United States and Europe, the
president of the World Bank has always been
selected from candidates nominated by the United
States. In 2012, for the first time, two non-US
citizens were nominated.

On 23 March 2012, U.S. President Barack Obama

announced that the United States would nominate
Jim Yong Kim as the next president of the Bank.[23]
Jim Yong Kim was elected on 27 April 2012 and re-
elected for a second five-year term in 2017. He
announced that he will resign effective 1 February
2019.[24] He was replaced on an interim basis by
World Bank CEO Kristalina Georgieva.

The World Bank Group headquarters building in Washington,

D.C.

Criteria …
Various developments had brought the Millennium
Development Goals targets for 2015 within reach in
some cases. For the goals to be realized, six criteria
must be met: stronger and more inclusive growth in
Africa and fragile states, more effort in health and
education, integration of the development and
environment agendas, more as well as better aid,
movement on trade negotiations, and stronger and
more focused support from multilateral institutions
like the World Bank.[25]
1. Eradicate Extreme Poverty and Hunger: From 1990
through 2004 the proportion of people living in
extreme poverty fell from almost a third to less than
a fifth. Although results vary widely within regions
and countries, the trend indicates that the world as a
whole can meet the goal of halving the percentage
of people living in poverty. Africa's poverty,
however, is expected to rise, and most of the 36
countries where 90% of the world's undernourished
children live are in Africa. Less than a quarter of
countries are on track for achieving the goal of
halving under-nutrition.
2. Achieve Universal Primary Education: The
percentage of children in school in developing
countries increased from 80% in 1991 to 88% in
2005. Still, about 72 million children of primary
school age, 57% of them girls, were not being
educated as of 2005.
3. Promote Gender Equality: The tide is turning
slowly for women in the labor market, yet far more
women than men- worldwide more than 60% – are
contributing but unpaid family workers. The World
Bank Group Gender Action Plan was created to
 advance women's economic empowerment and
promote shared growth.
4. Reduce Child Mortality: There is some
improvement in survival rates globally; accelerated
improvements are needed most urgently in South
Asia and Sub-Saharan Africa. An estimated 10
million-plus children under five died in 2005; most
of their deaths were from preventable causes.
5. Improve Maternal Health: Almost all of the half
million women who die during pregnancy or
childbirth every year live in Sub-Saharan Africa and
 Asia. There are numerous causes of maternal death
that require a variety of health care interventions to
be made widely accessible.
6. Combat HIV/AIDS, Malaria, and Other Diseases:
Annual numbers of new HIV infections and AIDS
deaths have fallen, but the number of people living
with HIV continues to grow. In the eight worst-hit
southern African countries, prevalence is above 15
percent. Treatment has increased globally, but still
meets only 30 percent of needs (with wide variations
across countries). AIDS remains the leading cause of
 death in Sub-Saharan Africa (1.6 million deaths in
2007). There are 300 to 500 million cases of malaria
each year, leading to more than 1 million deaths.
Nearly all the cases and more than 95 percent of the
deaths occur in Sub-Saharan Africa.
7. Ensure Environmental Sustainability: Deforestation
remains a critical problem, particularly in regions of
biological diversity, which continues to decline.
Greenhouse gas emissions are increasing faster than
energy technology advancement.
 8. Develop a Global Partnership for Development:
Donor countries have renewed their commitment.
Donors have to fulfill their pledges to match the
current rate of core program development.
Emphasis is being placed on the Bank Group's
collaboration with multilateral and local partners to
quicken progress toward the MDGs' realization.

To make sure that World Bank-financed operations

do not compromise these goals but instead add to
their realisation, environmental, social and legal
safeguards were defined. However, these safeguards
have not been implemented entirely yet. At the
World Bank's annual meeting in Tokyo 2012 a
review of these safeguards has been initiated, which
was welcomed by several civil society
organisations.[26]

Leadership
The President of the Bank is the president of the
entire World Bank Group. The president is
responsible for chairing meetings of the Boards of
Directors and for overall management of the Bank.
Traditionally, the President of the Bank has always
been a US citizen nominated by the United States,
the largest shareholder in the bank (the managing
director of the International Monetary Fund having
always been a European). The nominee is subject to
confirmation by the Board of Executive Directors,
to serve for a five-year, renewable term. While most
World Bank presidents have had banking
experience, some have not.[27][28]

The vice presidents of the Bank are its principal

managers, in charge of regions, sectors, networks
and functions. There are two Executive Vice
presidents, three Senior Vice presidents, and 24
Vice presidents.[29]

The Boards of Directors consist of the World Bank

Group President and 25 Executive Directors. The
President is the presiding officer, and ordinarily has
no vote except a deciding vote in case of an equal
division. The Executive Directors as individuals
cannot exercise any power nor commit or represent
the Bank unless specifically authorized by the
Boards to do so. With the term beginning 1
November 2010, the number of Executive Directors
increased by one, to 25.[30]

Presidents …
 Name Dates Nationality Previous work

1946–
Eugene Meyer United States Newspaper publisher and Chairman of the Federal Reserve
1946

1947–
John J. McCloy United States Lawyer and US Assistant Secretary of War
1949

1949–
Eugene R. Black, Sr. United States Bank executive with Chase and executive director with the World Bank
1963

1963–
George Woods United States Bank executive with First Boston Corporation
1968

1968– President of the Ford Motor Company, US Defense Secretary under Presidents John F. Kennedy
Robert McNamara United States
1981 and Lyndon B. Johnson

1981–
Alden W. Clausen United States Lawyer, bank executive with Bank of America
1986

1986–
Barber Conable United States New York State Senator and US Congressman
1991

1991–
Lewis T. Preston United States Bank executive with J.P. Morgan
1995

United States
1995– Wolfensohn was a naturalised American citizen before taking office. Corporate lawyer and
James Wolfensohn Australia
2005 banker
(prev.)

US Ambassador to Indonesia, US Deputy Secretary of Defense, Dean of the School of Advanced

2005–
Paul Wolfowitz United States International Studies (SAIS) at Johns Hopkins University, prominent architect of 2003 invasion
2007
of Iraq, resigned World Bank post due to ethics scandal[31]

Robert Zoellick 2007– United States Deputy Secretary of State and US Trade Representative
 2012

United States
2012– Former Chair of the Department of Global Health and Social Medicine at Harvard, president of
Jim Yong Kim South Korea
2019 Dartmouth College, naturalized American citizen[32]
(prev.)

2019–
Kristalina Former European Commissioner for the Budget and Human Resources and 2010's "European of
2019 Bulgaria
Georgieva the Year"
(acting)

2019–
David Malpass United States Under Secretary of the Treasury for International Affairs
present

Chief Economists …
 Name Dates Nationality

Hollis B. Chenery 1972–1982 United States

Anne Osborn Krueger 1982–1986 United States

Stanley Fischer 1988–1990 United States/Israel

Lawrence Summers 1991–1993 United States

Michael Bruno 1993–1996 Israel

Joseph E. Stiglitz 1997–2000 United States

Nicholas Stern 2000–2003 United Kingdom

François Bourguignon 2003–2007 France

Justin Yifu Lin 2008–2012 China

Kaushik Basu 2012–2016 India

Shanta Devarajan 2016–2018 United States

[33]

Members
The International Bank for Reconstruction and
Development (IBRD) has 189 member countries,
while the International Development Association
(IDA) has 173 members. Each member state of
IBRD should also be a member of the International
Monetary Fund (IMF) and only members of IBRD
are allowed to join other institutions within the
Bank (such as IDA).[2]

Voting power …
In 2010 voting powers at the World Bank were
revised to increase the voice of developing countries,
notably China. The countries with most voting
power are now the United States (15.85%), Japan
(6.84%), China (4.42%), Germany (4.00%), the
United Kingdom (3.75%), France (3.75%), India
(2.91%),[34] Russia (2.77%), Saudi Arabia (2.77%)
and Italy (2.64%). Under the changes, known as
'Voice Reform – Phase 2', countries other than
China that saw significant gains included South
Korea, Turkey, Mexico, Singapore, Greece, Brazil,
India, and Spain. Most developed countries' voting
power was reduced, along with a few developing
countries such as Nigeria. The voting powers of the
United States, Russia and Saudi Arabia were
unchanged.[35][36]

The changes were brought about with the goal of

making voting more universal in regards to
standards, rule-based with objective indicators, and
transparent among other things. Now, developing
countries have an increased voice in the "Pool
Model", backed especially by Europe. Additionally,
voting power is based on economic size in addition
to International Development Association
contributions.[37]

List of 20 largest countries by

voting power in each World
Bank institution
The following table shows the subscriptions of the
top 20 member countries of the World Bank by
voting power in the following World Bank
institutions as of December 2014 or March 2015:
the International Bank for Reconstruction and
Development (IBRD), the International Finance
Corporation (IFC), the International Development
Association (IDA), and the Multilateral Investment
Guarantee Agency (MIGA). Member countries are
allocated votes at the time of membership and
subsequently for additional subscriptions to capital
(one vote for each share of capital stock held by the
member).[38][39][40][41]
The 20 Largest Countries by voting power (Number of Votes)
Rank Country IBRD Country IFC Country IDA Country MIGA

World 2,201,754 World 2,653,476 World 24,682,951 World 218,237

1 United States 358,498 United States 570,179 United States 2,546,503 United States 32,790

2 Japan 166,094 Japan 163,334 Japan 2,112,243 Japan 9,205

3 China 107,244 Germany 129,708 United Kingdom 1,510,934 Germany 9,162

4 Germany 97,224 France 121,815 Germany 1,368,001 France 8,791

5 France 87,241 United Kingdom 121,815 France 908,843 United Kingdom 8,791

6 United Kingdom 87,241 India 103,747 Saudi Arabia 810,293 China 5,756

7 India 67,690 Russia 103,653 India 661,909 Russia 5,754

8 Saudi Arabia 67,155 Canada 82,142 Canada 629,658 Saudi Arabia 5,754

9 Canada 59,004 Italy 82,142 Italy 573,858 India 5,597

10 Italy 54,877 China 62,392 China 521,830 Canada 5,451

11 Russia 54,651 Netherlands 56,931 Poland 498,102 Italy 5,196

12 Spain 42,948 Belgium 51,410 Sweden 494,360 Netherlands 4,048

13 Brazil 42,613 Australia 48,129 Netherlands 488,209 Belgium 3,803

14 Netherlands 42,348 Switzerland 44,863 Brazil 412,322 Australia 3,245

15 Korea 36,591 Brazil 40,279 Australia 312,566 Switzerland 2,869

16 Belgium 36,463 Mexico 38,929 Switzerland 275,755 Brazil 2,832

17 Iran 34,718 Spain 37,826 Belgium 275,474 Spain 2,491

18 Switzerland 33,296 Indonesia 32,402 Norway 258,209 Argentina 2,436

19 Australia 30,910 Saudi Arabia 30,862 Denmark 231,685 Indonesia 2,075

 20 Turkey 26,293 Korea 28,895 Pakistan 218,506 Sweden 2,075

Poverty reduction strategies

For the poorest developing countries in the world,
the bank's assistance plans are based on poverty
reduction strategies; by combining an analysis of
local groups with an analysis of the country's
financial and economic situation the World Bank
develops a plan pertaining to the country in
question. The government then identifies the
country's priorities and targets for the reduction of
poverty, and the World Bank instigates its aid efforts
correspondingly.

Forty-five countries pledged US$25.1 billion in "aid

for the world's poorest countries", aid that goes to
the World Bank International Development
Association (IDA), which distributes the loans to
eighty poorer countries. Wealthier nations
sometimes fund their own aid projects, including
those for diseases. Robert B. Zoellick, the former
president of the World Bank, said when the loans
were announced on 15 December 2007, that IDA
money "is the core funding that the poorest
developing countries rely on".[42]

World Bank organizes the Development

Marketplace Awards, a grant program that surfaces
and funds development projects with potential for
development impact that are scalable and/or
replicable. The grant beneficiaries are social
enterprises with projects that aim to deliver social
and public services to groups with lowest incomes.

Global partnerships and

initiatives
The World Bank has been assigned temporary
management responsibility of the Clean Technology
Fund (CTF), focused on making renewable energy
cost-competitive with coal-fired power as quickly as
possible, but this may not continue after UN's
Copenhagen climate change conference in
December 2009, because of the Bank's continued
investment in coal-fired power plants.[43] (In
December 2017, Kim announced the World Bank
would no longer finance fossil fuel development.)
Together with the World Health Organization, the
World Bank administers the International Health
Partnership (IHP+). IHP+ is a group of partners
committed to improving the health of citizens in
developing countries. Partners work together to put
international principles for aid effectiveness and
development cooperation into practice in the health
sector. IHP+ mobilizes national governments,
development agencies, civil society and others to
support a single, country-led national health
strategy in a well-coordinated way.
Climate change …

World Bank President Jim Yong Kim said in 2012

that:

"A 4 degree warmer world can, and must be,

avoided – we need to hold warming below 2
degrees ... Lack of action on climate change
threatens to make the world our children inherit a
completely different world than we are living in
today. Climate change is one of the single biggest
challenges facing development, and we need to
assume the moral responsibility to take action on
behalf of future generations, especially the
poorest."[44] A World Bank report into Climate
change in 2012 noted that (p. xiii): "Even with the
current mitigation commitments and pledges fully
implemented, there is roughly a 20 percent
likelihood of exceeding 4 °C by 2100." This is
despite the fact that the "global community has
committed itself to holding warming below 2 °C to
prevent 'dangerous' climate change". Furthermore:
"A series of recent extreme events worldwide
highlight the vulnerability of all countries ... No
 nation will be immune to the impacts of climate
change."[45]

The World Bank doubled its aid for climate change

adaptation from $2.3bn (£1.47bn) in 2011 to
$4.6bn in 2012. The planet is now 0.8 °C warmer
than in pre-industrial times. It says that 2 °C
warming will be reached in 20 to 30 years.[46][47]

In December 2017, Kim announced the World

Bank would no longer finance fossil fuel
development.[48]
However, a 2019 article by the International
Consortium of Investigative Journalists found that
the World Bank continues "to finance oil and gas
exploration, pipelines and refineries," that "these
fossil fuel investments make up a greater share of the
bank’s current energy lending portfolio than
renewable projects," and that the Bank "has yet to
meaningfully shift away from fossil fuels."[49]

EU finance ministers joined civil sector groups,

including Extinction Rebellion, in November 2019
in calling for an end to World Bank funding of fossil
fuels.[50][51][52]

Food security …

1. Global Food Security Program: Launched in April

2010, six countries alongside the Bill and Melinda
Gates Foundation have pledged $925 million for
food security. To date, the program has helped eight
countries, promoting agriculture, research, trade in
agriculture, etc.
 2. Launched Global Food Crisis Response Program:
Given grants to approximately 40 nations for seeds,
etc. for improving productivity.
3. In process of increasing its yearly spending for
agriculture to $6–8 billion from earlier $4 billion.
4. Runs several nutrition program across the world,
e.g., vitamin A doses for children, school meals, etc.

Training wings

Global Operations Knowledge Management

Unit
…
The World Bank Institute (WBI) was a "global
connector of knowledge, learning and innovation for
poverty reduction". It aimed to inspire change
agents and prepare them with essential tools that
can help achieve development results. WBI had four
major strategies to approach development problems:
innovation for development, knowledge exchange,
leadership and coalition building, and structured
learning. World Bank Institute (WBI) was formerly
known as Economic Development Institute (EDI),
established on 11 March 1955 with the support of
the Rockefeller and Ford Foundations. The purpose
of the institute was to serve as provide an open place
where senior officials from developing countries
could discuss development policies and programs.
Over the years, EDI grew significantly and in 2000,
the Institute was renamed as the World Bank
Institute. Sanjay Pradhan is the past Vice President
of the World Bank Institute.[53] As of 2019, World
Bank Institute functions have been mostly
encapsulated by a new unit Global Operations
Knowledge Management Unit (GOKMU), which is
now responsible for knowledge management and
learning across the Bank.
Global Development Learning Network …

The Global Development Learning Network

(GDLN) is a partnership of over 120 learning
centers (GDLN Affiliates) in nearly 80 countries
around the world. GDLN Affiliates collaborate in
holding events that connect people across countries
and regions for learning and dialogue on
development issues.

GDLN clients are typically NGOs, government,

private sector and development agencies who find
that they work better together on subregional,
regional or global development issues using the
facilities and tools offered by GDLN Affiliates.
Clients also benefit from the ability of Affiliates to
help them choose and apply these tools effectively,
and to tap development practitioners and experts
worldwide. GDLN Affiliates facilitate around 1000
videoconference-based activities a year on behalf of
their clients, reaching some 90,000 people
worldwide. Most of these activities bring together
participants in two or more countries over a series
of sessions. A majority of GDLN activities are
organized by small government agencies and
NGOs.

GDLN Asia Pacific …

The GDLN in the East Asia and Pacific region has

experienced rapid growth and Distance Learning
Centers now operate, or are planned in 20
countries: Australia, Mongolia, Cambodia, China,
Indonesia, Singapore, Philippines, Sri Lanka, Japan,
Papua New Guinea, South Korea, Thailand, Laos,
Timor Leste, Fiji, Afghanistan, Bangladesh, India,
Nepal and New Zealand. With over 180 Distance
Learning Centers, it is the largest development
learning network in the Asia and Pacific region. The
Secretariat Office of GDLN Asia Pacific is located
in the Center of Academic Resources of
Chulalongkorn University, Bangkok, Thailand.

GDLN Asia Pacific was launched at the GDLN's

East Asia and Pacific regional meeting held in
Bangkok from 22 to 24 May 2006. Its vision is to
become "the premier network exchanging ideas,
experience and know-how across the Asia Pacific
Region". GDLN Asia Pacific is a separate entity to
The World Bank. It has endorsed its own Charter
and Business Plan and, in accordance with the
Charter, a GDLN Asia Pacific Governing
Committee has been appointed.

The committee comprises China (2), Australia (1),

Thailand (1), The World Bank (1) and finally, a
nominee of the Government of Japan (1). The
organization is currently hosted by Chulalongkorn
University in Bangkok, Thailand, founding member
of the GDLN Asia Pacific.
The Governing Committee has determined that the
most appropriate legal status for the GDLN AP in
Thailand is a "Foundation". The World Bank is
currently engaging a solicitor in Thailand to process
all documentation in order to obtain this legal
status.

GDLN Asia Pacific is built on the principle of

shared resources among partners engaged in a
common task, and this is visible in the
organizational structures that exist, as the network
evolves. Physical space for its headquarters is
provided by the host of the GDLN Centre in
Thailand – Chulalongkorn University; Technical
expertise and some infrastructure is provided by the
Tokyo Development Learning Centre (TDLC);
Fiduciary services are provided by Australian
National University (ANU) Until the GDLN Asia
Pacific is established as a legal entity tin Thailand,
ANU, has offered to assist the governing committee,
by providing a means of managing the inflow and
outflow of funds and of reporting on them. This
admittedly results in some complexity in contracting
arrangements, which need to be worked out on a
case by case basis and depends to some extent on
the legal requirements of the countries involved.

JUSTPAL Network …

A Justice Sector Peer-Assisted Learning (JUSTPAL)

Network was launched in April 2011 by the Poverty
Reduction and Economic Management (PREM)
Department of the World Bank's Europe and
Central Asia (ECA) Region. The JUSTPAL
objective is to provide an online and offline platform
for justice professionals to exchange knowledge,
good practices and peer-driven improvements to
justice systems and thereby support countries to
improve their justice sector performance, quality of
justice and service delivery to citizens and
businesses.

The JUSTPAL Network includes representatives of

judiciaries, ministries of justice, prosecutors, anti-
corruption agencies and other justice-related entities
from across the globe. The Network currently has
active members from more than 50 countries.
To facilitate fruitful exchange of reform experiences
and sharing of applicable good practices, the
JUSTPAL Network has organized its activities
under (currently) five Communities of Practice
(COPs): (i) Budgeting for the Justice Sector; (ii)
Information Systems for Justice Services; (iii) Justice
Sector Physical Infrastructure; (iv) Court
Management and Administration; and (v)
Prosecution and Anti-Corruption Agencies.

Country assistance strategies

As a guideline to the World Bank's operations in any
particular country, a Country Assistance Strategy is
produced in cooperation with the local government
and any interested stakeholders and may rely on
analytical work performed by the Bank or other
parties.

Clean Air Initiative

Clean Air Initiative (CAI) is a World Bank initiative
to advance innovative ways to improve air quality in
cities through partnerships in selected regions of the
world by sharing knowledge and experiences. It
includes electric vehicles.[54] Initiatives like this help
address and tackle pollution-related diseases.

United Nations Development

Business
Based on an agreement between the United Nations
and the World Bank in 1981, Development Business
became the official source for World Bank
Procurement Notices, Contract Awards, and Project
Approvals.[55]
In 1998, the agreement was re-negotiated, and
included in this agreement was a joint venture to
create an electronic version of the publication via
the World Wide Web. Today, Development Business
is the primary publication for all major multilateral
development banks, United Nations agencies, and
several national governments, many of whom have
made the publication of their tenders and contracts
in Development Business a mandatory
requirement.[55]
The World Bank or the World Bank Group is also a
sitting observer in the United Nations Development
Group.[56]

Open data initiative

The World Bank collects and processes large
amounts of data and generates them on the basis of
economic models. These data and models have
gradually been made available to the public in a
way that encourages reuse,[57] whereas the recent
publications describing them are available as open
access under a Creative Commons Attribution
License, for which the bank received the SPARC
Innovator 2012 award.[58]

The World Bank also endorses the Principles for

Digital Development.[59]

Grants table
The following table lists the top 15 DAC 5 Digit
Sectors[60] to which the World Bank has committed
funding, as recorded by it in its International Aid
Transparency Initiative (IATI) publications. The
World Bank states on the IATI Registry website that
the amounts "will cover 100% of IBRD and IDA
development flows" but will not cover other
development flows.[61]
 Committed funding (US$ millions)

Before
Sector 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Sum
2007

Road transport 4,654.2 1,993.5 1,501.8 5,550.3 4,032.3 2,603.7 3,852.5 2,883.6 3,081.7 3,922.6 723.7 34,799.8

Social/ welfare
613.1 208.1 185.5 2,878.4 1,477.4 1,493.2 1,498.5 2,592.6 2,745.4 1,537.7 73.6 15,303.5
services

Electrical
transmission/ 1,292.5 862.1 1,740.2 2,435.4 1,465.1 907.7 1,614.9 395.7 2,457.1 1,632.2 374.8 15,177.8
distribution

Public finance
334.2 223.1 499.7 129.0 455.3 346.6 3,156.8 2,724.0 3,160.5 2,438.9 690.5 14,158.6
management

Rail transport 279.3 284.4 1,289.0 912.2 892.5 1,487.4 841.8 740.6 1,964.9 1,172.2 −1.6 9,862.5

Rural development 335.4 237.5 382.8 616.7 2,317.4 972.0 944.0 177.8 380.9 1,090.3 −2.5 7,452.4

Urban development
261.2 375.9 733.3 739.6 542.1 1,308.1 914.3 258.9 747.3 1,122.1 212.2 7,214.9
and management

Business support
services and 113.3 20.8 721.7 181.4 363.3 514.0 310.0 760.1 1,281.9 1,996.0 491.3 6,753.7
institutions

Energy policy and

administrative 102.5 243.0 324.9 234.2 762.0 654.9 902.1 480.5 1,594.2 1,001.8 347.9 6,648.0
management

Agricultural water
733.2 749.5 84.6 251.8 780.6 819.5 618.3 1,040.3 1,214.8 824.0 −105.8 7,011.0
resources

Decentralisation and 904.5 107.9 176.1 206.7 331.2 852.8 880.6 466.8 1,417.0 432.5 821.3 6,597.3
support to subnational
government

Disaster prevention
66.9 2.7 260.0 9.0 417.2 609.5 852.9 373.5 1,267.8 1,759.7 114.2 5,733.5
and preparedness

Sanitation - large
441.9 679.7 521.6 422.0 613.1 1,209.4 268.0 55.4 890.6 900.8 93.9 6,096.3
systems

Water supply - large

646.5 438.1 298.3 486.5 845.1 640.2 469.0 250.5 1,332.4 609.9 224.7 6,241.3
systems

Health policy and

administrative 661.3 54.8 285.8 673.8 1,581.4 799.3 251.5 426.3 154.8 368.1 496.0 5,753.1
management

Other 13,162.7 6,588.3 8,707.1 11,425.7 17,099.5 11,096.6 16,873.4 13,967.1 20,057.6 21,096.5 3,070.3 140,074.5

Total 24,602.6 13,069.4 17,712.6 27,152.6 33,975.6 26,314.8 34,248.6 27,593.9 43,748.8 41,905.2 7,624.5 297,948.5

Open Knowledge Repository

The World Bank hosts the Open Knowledge
Repository (OKR)[62] as an official open access
repository for its research outputs and knowledge
products.
The World Bank's repository is listed in the Registry
of Research Data Repositories re3data.org.[63]

Criticisms and controversy

The World Bank has long been criticized by non-
governmental organizations, such as the indigenous
rights group Survival International, and academics,
including Henry Hazlitt, Ludwig Von Mises, and its
former Chief Economist Joseph Stiglitz.[64][65][66]
Henry Hazlitt argued that the World Bank along
with the monetary system it was designed within
would promote world inflation and "a world in
which international trade is State-dominated" when
they were being advocated.[67] Stiglitz argued that
the so-called free market reform policies that the
Bank advocates are often harmful to economic
development if implemented badly, too quickly
("shock therapy"), in the wrong sequence or in weak,
uncompetitive economies.[65][68] Similarly, Carmine
Guerriero notices that these reforms have
introduced in developing countries regulatory
institutions typical of the common law legal
tradition because allegedly more efficient according
to the legal origins theory. The latter however has
been fiercely criticized since it does not take into
account that the legal institutions transplanted
during the European colonization have been then
reformed.[69] This issue makes the legal origins
theory's inference unreliable and the World Bank
reforms detrimental.[70]

One of the most common criticisms of the World

Bank has been the way in which it is governed.
While the World Bank represents 188 countries, it is
run by a small number of economically powerful
countries. These countries (which also provide most
of the institution's funding) choose the leadership
and senior management of the World Bank, and
their interests dominate the bank.[71]:190 Titus
Alexander argues that the unequal voting power of
western countries and the World Bank's role in
developing countries makes it similar to the South
African Development Bank under apartheid, and
therefore a pillar of global apartheid.[72]:133–141
In the 1990s, the World Bank and the IMF forged
the Washington Consensus, policies that included
deregulation and liberalization of markets,
privatization and the downscaling of government.
Though the Washington Consensus was conceived
as a policy that would best promote development, it
was criticized for ignoring equity, employment and
how reforms like privatization were carried out.
Joseph Stiglitz argued that the Washington
Consensus placed too much emphasis on the growth
of GDP, and not enough on the permanence of
growth or on whether growth contributed to better
living standards.[66]:17

The United States Senate Committee on Foreign

Relations report criticized the World Bank and
other international financial institutions for focusing
too much "on issuing loans rather than on achieving
concrete development results within a finite period
of time" and called on the institution to "strengthen
anti-corruption efforts".[73]
James Ferguson has argued that the main effect of
many development projects carried out by the
World Bank and similar organizations is not the
alleviation of poverty. Instead the projects often
serve to expand the exercise of bureaucratic state
power. Through his case-studies of development
projects in Thaba-Tseka he shows that the World
Bank's characterization of the economic conditions
in Lesotho was flawed, and the Bank ignored the
political and cultural character of the state in
crafting their projects. As a result, the projects failed
to help the poor, but succeeded in expanding the
government bureaucracy.[74]

Criticism of the World Bank and other

organizations often takes the form of protesting,
such as the World Bank Oslo 2002 Protests,[75] the
2007 October Rebellion,[76] and the 1999 Battle of
Seattle.[77] Such demonstrations have occurred all
over the world, even among the Brazilian Kayapo
people.[78]
Another source of criticism has been the tradition of
having an American head the bank, implemented
because the United States provides the majority of
World Bank funding. "When economists from the
World Bank visit poor countries to dispense cash
and advice", observed The Economist in 2012, "they
routinely tell governments to reject cronyism and fill
each important job with the best candidate
available. It is good advice. The World Bank should
take it."[79] Jim Yong Kim, a Korean-American, is
the most recently appointed president of the World
Bank.[80]
Structural adjustment …

The effect of structural adjustment policies on poor

countries has been one of the most significant
criticisms of the World Bank.[81] The 1979 energy
crisis plunged many countries into economic
crisis.[82]:68 The World Bank responded with
structural adjustment loans, which distributed aid to
struggling countries while enforcing policy changes
in order to reduce inflation and fiscal imbalance.
Some of these policies included encouraging
production, investment and labour-intensive
manufacturing, changing real exchange rates and
altering the distribution of government resources.
Structural adjustment policies were most effective in
countries with an institutional framework that
allowed these policies to be implemented easily. For
some countries, particularly in Sub-Saharan Africa,
economic growth regressed and inflation worsened.
The alleviation of poverty was not a goal of
structural adjustment loans, and the circumstances
of the poor often worsened, due to a reduction in
social spending and an increase in the price of food,
as subsidies were lifted.[82]:69
By the late 1980s, international organizations began
to admit that structural adjustment policies were
worsening life for the world's poor. The World Bank
changed structural adjustment loans, allowing for
social spending to be maintained, and encouraging
a slower change to policies such as transfer of
subsidies and price rises.[82]:70 In 1999, the World
Bank and the IMF introduced the Poverty
Reduction Strategy Paper approach to replace
structural adjustment loans.[83]:147 The Poverty
Reduction Strategy Paper approach has been
interpreted as an extension of structural adjustment
policies as it continues to reinforce and legitimize
global inequities. Neither approach has addressed
the inherent flaws within the global economy that
contribute to economic and social inequities within
developing countries.[83]:152

Fairness of assistance conditions …

Some critics,[84] most prominently the author

Naomi Klein, are of the opinion that the World
Bank Group's loans and aid have unfair conditions
attached to them that reflect the interests, financial
power and political doctrines (notably the
Washington Consensus) of the Bank and, by
extension, the countries that are most influential
within it. Among other allegations, Klein says the
Group's credibility was damaged "when it forced
school fees on students in Ghana in exchange for a
loan; when it demanded that Tanzania privatise its
water system; when it made telecom privatisation a
condition of aid for Hurricane Mitch; when it
demanded labour 'flexibility' in Sri Lanka in the
aftermath of the Asian tsunami; when it pushed for
eliminating food subsidies in post-invasion Iraq".[85]
Sovereign immunity …

The World Bank requires sovereign immunity from

countries it deals with.[86][87][88] Sovereign
immunity waives a holder from all legal liability for
their actions. It is proposed that this immunity from
responsibility is a "shield which The World Bank
wants to resort to, for escaping accountability and
security by the people".[86] As the United States has
veto power, it can prevent the World Bank from
taking action against its interests.[86]
PricewaterhouseCoopers …

World Bank favored PricewaterhouseCoopers as a

consultant in a bid for privatizing the water
distribution in Delhi, India.[89]

See also
BRICS Development Bank
Clean Energy for Development Investment
Framework
Democracy Ranking
 Energy Sector Management Assistance Program
(ESMAP)
International Finance Corporation
Russia-World Bank relations
All pages with titles containing World Bank

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Further reading
Salda, Anne C. M., ed. Historical dictionary of the
World Bank (1997)
[https://web.archive.org/web/20130712160429/http:
//archive/

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