The world bank‏

The world bank‏

The World Bank, established in 1946, is an international development agency providing loans, advice, and other services to over 100 countries. It is owned and operated by its 180 member countries. Its funds are raised through world markets and contributions from member governments. Its divisions include the International Bank for Reconstruction & Development, The International Development Association, The International Finance Corporation, The Multilateral Investment Guarantee Agency, and The International Centre for Settlement of Investment Disputes. The World Bank offers more development assistance than any other organization worldwide, at US $20 billion annually.
The World Bank seeks ''to reduce poverty and improve living standards through sustainable growth and investment in people.”

What are the Functions of World Bank?

World Bank performs the following functions:
(i) Granting reconstruction loans to war devastated countries.
(ii) Granting developmental loans to underdeveloped countries.
(iii) Providing loans to governments for agriculture, irrigation, power, transport, water supply, educations, health, etc
(iv) Providing loans to private concerns for specified projects.
(v) Promoting foreign investment by guaranteeing loans provided by other organisations.
(vi)Providing technical, economic and monetary advice to member countries for specific projects
(vii) Encouraging industrial development of underdeveloped countries by promoting economic reforms.