World Bank

World Bank,

Definition of World Bank:

  1. The World Bank is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement. The bank predominantly acts as an organization that attempts to fight poverty by offering developmental assistance to middle- and low-income countries.

  2. Popular name for the International Bank for Reconstruction and Development (IBRD). Established together with International Monetary Fund (IMF) in 1944 as part of Bretton Woods system to rebuild the Western economies shattered by second world War through financing of commercial and infrastructural projects. Though it does not compete with commercial banks, it may participate in loan syndication, and its lending policies are based largely on strict commercial criteria. Its member countries must also be members of the IMF, and (as in IMF) have voting power weighted according to their contribution to the Bank. For example, the US has about 20 percent of the voting power and always chooses the banks president. See also World Bank system.

  3. An international banking organization established to control the distribution of economic aid among member nations, and to make loans to them in times of financial crisis.

  4. Currently, the World Bank has two stated goals that it aims to achieve by 2030. The first is to end extreme poverty by decreasing the number of people living on less than $1.90 a day to below 3% of the world population. The second is to increase overall prosperity by increasing income growth in the bottom 40% of every country in the world.

How to use World Bank in a sentence?

  1. The World Bank has expanded to become known as the World Bank Group with five cooperative organizations, sometimes known as the World Banks.
  2. The World Bank has aided with the resurrecting of second and third world economies by loaning them millions and billions of dollars.
  3. The World Bank Group offers a multitude of proprietary financial assistance products and solutions for international governments as well as a range of research-based thought leadership for the global economy at large.
  4. The World Bank is an international organization dedicated to providing financing, advice, and research to developing nations to aid their economic advancement.
  5. Sometimes if you can not find a local bank to give your business a loan you can try and contact the world bank .
  6. The World Bank and International Monetary Fund were founded simultaneously under the Bretton Woods Agreement with generally the same focus to help serve international governments globally.
  7. If you want a loan but have been shot down by all the other banks you can try the world bank but they have strict criteria.

Meaning of World Bank & World Bank Definition

World Bank,

What is The Meaning of World Bank?

  1. The definition of World Bank is: The World Bank is an international organization dedicated to providing financial assistance, advice and research to help developing countries grow their economies. The Bank's primary function is to combat poverty by providing development assistance to low- and middle-income countries.

    • The World Bank is an international organization dedicated to providing financial assistance, advice and research to help developing countries grow their economies.
    • The World Bank and the International Monetary Fund were created together under the Bretton Woods Agreement with the common goal of helping international governments serve globally.
    • The World Bank is also known as the World Bank Group of Five Cooperative Organizations, sometimes called the World Bank.
    • The World Bank Group provides a unique set of funding products and solutions for international governments, as well as a range of research-minded leaders for the global economy in general.

Literal Meanings of World Bank

World:

Meanings of World:
  1. The earth and all its countries, peoples and natural resources.

  2. A region or group of countries.

  3. Human and social interaction.

Sentences of World
  1. He is doing his part to save the world

  2. English speaking world

  3. Almost completely removed from the world

Synonyms of World

globe, society, planet, high society, sphere, earth

Bank:

Meanings of Bank:
  1. Disembark or by a river or lake.

  2. The shield of a particular material, massive or mountainous.

  3. Seats or rows of similar elements, especially electrical equipment, are divided into rows.

  4. Pool table cushions

  5. Accumulation (substance) in a mass or pile.

  6. Tilt or lean back when turning (from an airplane or car)

  7. (From locomotive) provides extra energy when going to the hills (train).

  8. (Billiards and other sports) Play (ball) so that it bounces on the surface like a table or pillow.

  9. Financial institutions that deposit money through consumers, make payments as needed, lend at interest and exchange currency.

Sentences of Bank
  1. Line up at Willow Banks

  2. Snow shore

  3. On each side of the console is a large collection of DJ lights and speakers

  4. Bankruptcy

  5. The rain has accumulated dirt behind the door

  6. The plane turned as if it were going back to the airport

  7. I put eight balls on two pillows

Synonyms of Bank

gradient, outer limit, perimeter, bounds, row, slant, flank, be at an angle, list, make a heap of, tier, tilt, periphery, boundary, heap, make a pile of, limits, tip, stack, acclivity, pile, lean

What is the World bank? The World Bank is a global organization dedicated to providing funding, advice, and research to developing countries to help their economic development. The bank primarily serves as an organization that strives to fight poverty by providing development assistance to low- and middle-income countries.

World bank

The World Bank Group works in every considerable area of development. We provide a wide array of monetary products and technical assistance, and we help countries share and apply imaginative knowledge and solutions to the hurdles they face.
Since 1947, the World Bank has funded 12,000 plus growth projects via traditional loans, interest-free credits, and grants.

world bank

Background

Established in 1944 at the U.N. Monetary and Financial Conference (popularly known as the Bretton Woods Conference), which called for establishing a post-World War II economic system, the World Bank officially went into operation in June 1946. It was designed for post-war reconstruction in Western Europe. Beginning in the mid-1950s, it played a crucial role in financing infrastructure investment in developing countries, including roads, dams, water and sanitation facilities, harbors, and airports.

The five-tier world banking system

The World Bank Group has five existing institutions: International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and the International Center for the Settlement of Investment Disputes (ICSID).

:small_blue_diamond: World Bank for Reconstruction and Development

The International Bank for Reconstruction and Development contributes to low-income and credit-oriented governments.

:small_blue_diamond: International Development Association

The International Development Association (IDA) delivers interest-free loans - called loans - and grants to the world’s poorest governments.

Together, IBRD and IDA formed the World Bank.

:small_blue_diamond: International Finance Corporation

The International Finance Corporation (IFC) is an extraordinary land development center focusing exclusively on the private sector. We help developing countries achieve justifiable growth by financing investment, promoting financial markets in the global financial markets, and providing business and government advisory services.

:small_blue_diamond: Institute for Investment Investment

The Multilateral Investment Guarantee Agency (MIGA) was settled in 1988 to promote direct investment in developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by providing insurance (guarantees) of political risks to investors and lenders.

:small_blue_diamond:ICSDA

International Center for the Settlement of Investment Disputes provides international institutions to reconcile and mediate investment disputes.

Leadership

The bank president is responsible for presiding over the board of directors and the bank’s general manager. Customarily, the bank president has always been a U.S. citizen and appointed by the United States, the largest shareholder in the bank (the executive director of the International Monetary Fund who has always been European).

The nominee is subject to the approval of the board of directors in charge for a term of five years, renewable. While many World Bank presidents have banking information, some do not.

The vice-presidents of the bank are its executives, executives, regions, networks, and operations. There are two senior vice presidents, three senior vice presidents, and 24 vice presidents.

Boards of directors consist of the president of the World Bank Group and 25 senior executives. The president is the presiding officer, and he usually has no vote other than to break the tie.
The directors as individuals may not exercise any power or obligation or represent the bank unless the boards expressly authorize them. At the beginning of November 1, 2010, the number of directors increased by 1, to 25.

Presidents of the World Bank

world bank

Dates Name Nationality
1946–1946 Eugene Meyer United States
1947-1949 John J. McCloy United States
1949–1963 Eugene R. Black, Sr. United States
1963-1968 George Woods United States
1968-1981 Robert McNamara United States
1981-1986 Alden W. Clausen United States
1986-1991 Barber Conable United States
1991-1995 Lewis T. Preston United States
1995-2005 James Wolfensohn United States, and Australia
2005-2007 Paul Wolfowitz United States
2007-2012 Robert Zoellick United States
2012-2019 m Yong Kim United States and South Korea
2019 Kristalina Georgieva Bulgaria
2019 - currently David Malpass United States

Members of the World Bank

IBRD has 189 member states, while the International Development Association (IDA) has 173. Each IBRD member state must also be a member of the International Monetary Fund (IMF). Only IBRD members are allowed to join other institutions within the bank (such as the IDA). The five-member states of the United Nations that are not members of the World Bank are Andorra, Cuba, Liechtenstein, Monaco, and North Korea. Kosovo is not a part of the U.N., but a member of the IMF and World Bank Group, including the IBRD and IDA.

Voting power

In 2010 the voting power of the World Bank was revised to increase the voice of developing countries, especially China.

The countries with the most considerable voting powers are now the United States (15.85%), Japan (6.84%), China (4.42%), Germany (4.00%), United Kingdom (3.75%), France (3.75%), India (2.91% ), Russia (2.77%), Saudi Arabia (2.77%) and Italy (2.64%). Under the reforms, known as the ‘Voice of Change - Phase 2’, countries outside China saw significant gains, including South Korea, Turkey, Mexico, Singapore, Greece, Brazil, India, and Spain.

Many voting powers in developed countries have been reduced, and a few developing countries such as Nigeria. Voting power in the United States, Russia, and Saudi Arabia have not changed

The changes were introduced to make voting more accessible by standards, based on legislation with objectives, and be transparent, among other things.

Now, developing countries have a voice in the “Pool Model,” primarily supported by Europe. In addition, voting power is based on the economic size and contributions from the International Development Association.

Poverty reduction strategies

In the world’s poorest developing countries, the bank’s aid programs are based on poverty reduction strategies; by combining the analysis of local groups and the analysis of the financial and economic situation of the country, the World Bank is developing a system for the country in interrogation. The government then recognizes the country’s priorities and goals for poverty reduction, and the World Bank is promoting its efforts to help.

Forty-five countries have pledged the U.S. $ 25.1 billion “to help the world’s poorest countries,” a grant to the World Bank International Development Association (IDA), distributing loans to eight emerging countries.

Wealthy nations sometimes fund their charitable activities, including those of disease. Robert B. Zoellick, one-time president of the World Bank, said in a statement announcing the loan on December 15, 2007, that IDA money was “a fundamental commodity for developing countries.”

The World Bank organizes the Development Marketplace Awards, which initiates and supports development projects with dramatic and repetitive impacts. Beneficiaries of social enterprises have projects aimed at delivering social and social services to low-income groups.

United Nations Development Business

According to an agreement between the United Nations and the World Bank in 1981, Development Business became the official source of World Bank Procurement Notices, Contract Awards, and Project Approvals.

Business Development is the primary publisher of all significant development banks, U.N. agencies, and national governments. Many of them have made publication their tenders and contracts in Business Development a mandatory requirement.

The World Bank or World Bank Group is also a permanent resident of the United Nations Development Group.

Building renovation

The effect of building remodeling policies on developing countries has been one of the most significant developments in the World Bank. The 1979 state power crisis plunged many countries into an economic crisis.

The World Bank responded with building repairs loans, which extended aid to struggling countries while enforcing policy changes to reduce inflation and inflationary pressures.

Some of these policies include promoting productivity, investment, and forced labor, changing accurate exchange rates, and changing the allocation of government resources.

Building renovation policies have been particularly effective in countries with an institutional framework that simplifies these policies. In some lands, especially in Sub-Saharan Africa, economic growth has slowed, and inflation has intensified.

In the late 1980s, some international organizations began to believe that home improvement policies were making life miserable for the world’s poorest people, thanks to declining spending and rising food prices, as subsidies were being phased out.

The World Bank has changed lending for building renovation loans, which allow for the use of social grants, and has encouraged slower changes in policies such as the transfer of subsidies and inflation.

COVID-19

The World Bank has been convicted for its poor response to its Pandemic Emergency Financing Facility (PEF), a fund set up to provide funding to help deal with outbreaks of epidemics. The COVID-19 epidemic has met all the other requirements for funding by January 2020.

Critics say the PEF vaccine is too strict, and the 12-week delay means the funding will be more effective than released to help governments initially contain the disease. They argue that the fund puts the interests of private shareholders ahead of ordinary business.

It is hoped that as the 2030 time limit for realizing the goals of the United Nations Sustainable Development Goals aimed at reducing inequality measures, the World Bank will play a key role in realizing it.

Summary
World bank is the organization that make up the World Bank Group are owned by the governments of the member countries, which have final decision-making power within the organizations on all matters, including policy, financial or membership issues.

Frequently asked questions

People usually ask many questions about Constitution. We discussed a few of them below:

1. What is the World Bank doing?

The World Bank is an international development agency of 187 countries. Its role is to alleviate poverty by lending money to the governments of its poor members to improve their economy and improve the quality of life of their people.

2. What is the largest bank in the world?

China’s Industrial and Commercial Bank. Founded in 1984, China’s Commercial Business has rapidly grown into the world’s largest commodity bank. Its current figure is a whopping 3.47 trillion.

3. Which country has the most loans from the World Bank?

Since then, India has become a country with the most significant country program, and its World Bank group lending portfolio inheres of 104 works with a total volume of $ 27.1 billion.

4. Which bank is the richest?

Industrial and Commercial Bank of China Limited is the wealthiest bank globally in terms of market value. It is also listed as the largest bank in the world in terms of total assets.

5. Who is in charge of the World Bank?

The organizations that make up the World Bank Group are controlled by the governments of the member states, which have the most significant power to make decisions for organizations in all matters, including policy, finance, or membership.

Conclusion
An international organization committed to providing subsidizing, advice, and research to developing nations to aid their economic advancement. The bank predominantly acts as an organization that attempts to fight poverty by offering developmental assistance to middle- and low-income countries.

World Bank,

What is The Definition of World Bank?

  • World Bank means: The World Bank is an international organization that provides funds, advice and research to developing countries to help them grow economically. Banks operate primarily as organizations that seek to fight low- and middle-income countries by offering them development positions.

    • The World Bank is an international organization that provides funds, advice and research to developing countries to develop their economies.
    • The World Bank and the International Monetary Bank were created simultaneously under the Bretton Woods Agreement, which aims to serve international governments around the world.
    • The World Bank is known as the cooperative group of five groups of the World Bank, sometimes also called the World Bank.
    • The World Bank Group provides unique financial information solutions and services to international governments, as well as research-based solutions for the global economy as a whole.

Literal Meanings of World Bank

World:

Meanings of World:
  1. The earth with all its nations and peoples.

Sentences of World
  1. Was almost completely removed from the world.

Synonyms of World

temporal concerns, secular interests, earthly concerns, human existence

Bank:

Meanings of Bank:
  1. Land that flows along a river or lake.

  2. A large mass or pile of a particular substance.

  3. Collection of similar items, including electrical or electronic devices, grouped in rows

  4. Heaps (substances) in people or dunes.

  5. Bending or bending during a turn (in the case of aircraft or vehicles).

  6. (A locomotive) (train) gives extra power to climb hills.

  7. Manage (a fisherman's) land (fish).

  8. Play (snooker) (ball) so that it bounces off the surface like a pillow.

  9. Financial institutions that use consumer funds for investment purposes, transfer them as needed, and issue loans at interest and exchange rates.

Sentences of Bank
  1. Wolves river line.

  2. Grass bank

  3. The plane bends over as if returning to the airport.

  4. Build a four-cylinder train engine on the slopes of Lucky.

  5. This is the largest rainbow trout ever.

  6. He may have sent the check to the wrong account.

Synonyms of Bank

commercial bank, mound, squirrel away, keep in reserve, lay by, savings bank, put by, eminence, group, fringe, deposit, brink, shelf, margin, stash (away), heap (up), bar, assemble, reef, panel, hoard, finance house

World Bank,

World Bank: What is the Meaning of World Bank?

World Bank

Will Canton specializes in investment and business legislation and regulation. Prior to that, he held senior positions as a writer at Investopedia and Kapitall Wire, and received an MA in Economics from the New School of Social Research at New York University and a PhD in Philosophy in English Literature.

  • The World Bank is an international organization that provides finance, advice and research to developing countries to help them expand their economies.
  • The World Bank and the International Monetary Fund (IMF), which were set up under the Bretton Woods Agreement, want to serve international governments.
  • The World Bank is known as the five cooperative group of the World Bank, sometimes called the World Bank.
  • The World Bank Group provides financial information, proprietary products and solutions to international governments, as well as rigorous research guidance for the global economy in general.
  • The World Bank's Human Resources Project aims to help countries invest and develop their human capital to improve society and the economy.

Literal Meanings of World Bank

Bank:

Meanings of Bank:
  1. Collection of identical objects, including electrical or electronic devices, grouped in rows.

  2. Mass or mound (substance).

  3. Tilt or tilt during a turn (in the case of aircraft or vehicles).

  4. (A train) gives extra strength to climb hills.

Sentences of Bank
  1. The DJ has lots of lights and speakers on either side of the console.

  2. The plane is tilting as if returning to the airport.

  3. Build four-cylinder train locomotives on Lucky Slope

Synonyms of Bank

ramp, extremity, parados, dip, cache, accumulation, hillock, do business with, incline, lender, make a stack of, pitch, ■■■■, pay in, series, put/be at an angle, side, edge, embankment, mortgagee, board, marge, financial institution, ridge, salt away, accumulate, put aside, shoal, clear, put together