World Bank And WTO

Presented By:

Siddhi Devrukhkar 17

Chandan Khutarkar 05

Rahul Koli 11

World Bank

The World Bank, established in July 1944, Headquartered in Washington D.C. United States.

The World Bank is a United Nations International Financial Institution that provides loans to developing countries for capital programs.

Motto : Working for a World Free of Poverty

Type : International Financial Organization

Purpose : Crediting

Membership : 188 countries (IBRD) 172 countries (IDA)

President : Jim Yong Kim

Parent Organization : World Bank Group

Overview

The World bank is made up of 2 unique

development institutions owned by 186 member countries :International Bank for Reconstruction and Development (IBRD)International Development Association (IDA)

Each institution plays a different but collaborative role in advancing the vision of inclusive & sustainable globalization.

The IBRD aims to reduce poverty in middle – income and credit worthy poorer countries,

IDA focuses on the world’s poorest countries.

It provides low interest loans, interest free credits and grants to developing countries for various purposes that includes :

1) investments in education,2) health,3) public administration,4) infrastructure,5) financial & private sector development,6) agriculture,7) environmental & natural resource management.

Analytical & Advisory Services

It provides analysis, advice and information to member countries through : Economic research & data collection on board issues such as the environment, poverty, trade and globalization. Country-specific, non-lending activities such as economic & sector work, which is evaluated by examining its banking systems & financial markets, trades, poverty. Its analyses, advice & knowledge are made available to client counties, their govt. & development professionals, & the public through : Poverty Assessments, Public Expenditure Reviews, Country Economic Reports, Sector Reports, Topics in Development

World Bank Mission

To fight poverty with passion and professionalism for lasting results. To help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forging partnerships in the public and private sectors.

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Difference between World Bank and IMF

• The World Bank lends only to developing or transition economies, whereas all member countries, rich or poor, can draw on the IMF’s services and resources.

• The IMF’s loans address short-term economic problems: they provide general support for a country’s balance of payments and international reserves while the country takes policy action to address its difficulties. The World Bank is concerned mainly with longer-term issues: it seeks to integrate countries into the wider world economy and to promote economic growth that reduces poverty.

• The IMF focuses on the macroeconomic performance of economies, as well as on macroeconomic and financial sector policy. The World Bank’s focus extends further into the particular sectors of a country’s economy and its work includes specific development projects as well as broader policy issues.

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Formation : 1January 1995

Type : International Trade Organization

Purpose : Regulate international trade

Headquarters : Centre William Rappard, Geneva, Switzerland

Region Served : Worldwide

Membership : 160 member states

Director-General : Roberto Azevedo

The WTO Structure

Functions Of WTO The main function is to ensure that trade flows as

smoothly, predictably and freely as possible. Administering trade agreements- WTO agreements

cover goods, services, intellectual property. Acting as a forum for trade negotiations Settling trade disputes-Importantly WTO set

procedures to settle disputes . Reviewing national trade policies. Assisting developing countries in trade policy issues,

through technical assistance and training programmes. Co-operating with other international organizations-

IMF and The World Bank.