world bank

English - Turkish

Definition of world bank in English Turkish dictionary
the World Bank: Dünya Bankası

English - English

Definition of world bank in English English dictionary: A group of five financial organizations whose purpose is economic development and the elimination of poverty; an organization that is part of the UN (United Nations), which lends money to poorer countries so that they can develop their farming, industry, and health and education systems. Its official name is the International Bank for Reconstruction and Development. Specialized agency of the United Nations system, established at the Bretton Woods Conference for postwar reconstruction. It is the principal international development institution. Its five divisions are the International Bank for Reconstruction and Development (IBRD; its main component), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Center for Settlement of Investment Disputes (ICSID). The IDA (founded 1960) makes interest-free loans to the bank's poorest member countries. The IFC (founded 1956) lends to private businesses in developing countries. The MIGA (founded 1985) supports national and private agencies that encourage foreign direct investment by offering insurance against noncommercial risks. The ICSID (founded 1966) was developed to relieve the IBRD of the burden of settling investment disputes. See also International Monetary Fund; monetary institution that supplies credit for the investment and opening with the guarantee of the state; an international lending institution known officially as the International Bank for Reconstruction and Development; A multilateral agency conceived at Bretton Woods, founded in 1946 and headquartered in Washington, D C After financing Europe’s postwar rebuilding, the bank turned to the global south Although “owned” by 180 nations, Washington maintains control, nominating the bank’s president (typically a U S citizen) and providing staff for its initiatives The bank finances loans to impoverished countries by selling bonds and collecting donations from wealthy countries Its main lending arm is the International Bank for Reconstruction and Development A second arm, the International Development Agency, provides no-interest (“soft”) loans IBRD and IDA loans often require structural adjustment A third arm, the International Finance Corporation, attracts private investment for projects A fourth arm, the Multilateral Insurance Guarantee Agency, insures private investments IN DEPTH; An international financial institution owned by its 181 member countries and based in Washington, D C Its main objective is to provide development funds to the Third World nations in the form of interest-bearing loans and technical assistance The World Bank operates with borrowed funds; IBRD or Int'l Bank for Reconstruction & Development, a UN agency Funded by "developed" (rich) nations taxpayers, it provides loans & technical assistance for both govt & private economic projects in "developing" (poor) nations Political correctness aside, it's a 3rd world welfare agency All World Bank member nations are required to be IMF (Int'l Monetary Fund) members Since World Bank & IMF are UN agencies duplicating most functions, they should merge to cut costs & bureaucracy; International Bank for Reconstruction adn Development; International Bank for Reconstruction and Development; The World Bank is an integrated group of international institutions which provides financial and technical assistance to developing countries The World Bank includes the International Bank for Reconstruction and Development and the International Development Association World Bank affiliates, legally and financially separate, include the International Center for Settlement of Investment Disputes, the International Finance Corporation, and the Multilateral Investment Guarantee Agency World Bank headquarters are in Washington, D C; An international financial institution owned by its 183 member countries that began operations in 1946 It provides loans and technical assistance to developing countries with the goals of reducing poverty, raising living standards, fostering sustainable development, and investing in people; a major multilateral funder The World Bank finances projects primarily through two of its branches: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) Both entities lend funds, provide economic advice and technical assistance, and serve as a catalyst for other investment They differ in that the IBRD borrows on world capital markets to finance its lending activity, while the IDA provides assistance to the poorest countries, largely based on resources provided by its more wealthy members and transfers from IBRD net income (profits); The World Bank is one of the institutions established at a meeting in Bretton Woods, New Hampshire, towards the end of World War II The other important institution established at that meeting is the International Monetary Fund (IMF) The Bank provides finance for development projects and advice to governments about development questions Both the Bank’s projects and the advice it provides have gone through distinct phases, associated with changes in global politics and in ideas about development In the latest phase, the Bank proclaims ‘Our dream is a world free of poverty’ (World Bank 2002) The advice that the Bank has provided has usually been based on a conservative reading of mainstream economic ideas; one of the world's largest sources of development assistance, the World Bank works in more than 100 developing economies with the primary focus of helping the poorest people and the poorest countries; Informal name for a group of four affiliated international institutions: the International Bank for Reconstruction and Development (IBRD); the International Development Association (IDA); the International Finance Corporation (IFC); and the Multilateral Investment Guaranty Agency (MIGA) The four institutions are owned by the governments of the countries that subscribe their capital for credit and investment in developing countries; each institution has a specialized agenda for aiding economic growth in target countries To participate in the World Bank group, member states first must belong to the International Monetary Fund (IMF--q v ); The World Bank was set up in 1944 as an institution for development assistance It got started mostly by giving loans for rebuilding Western Europe after World War II, and began giving development loans to poor countries in the1960s The World Bank is now the world's largest source of development assistance, and most of the money that it lends (75%) is raised in financial markets Influence in decision-making depends on the contributions of member countries, with industrialized economies accounting for the largest share It faced a lot of criticism as a result of the structural adjustment programs it imposed as a condition for assistance in the 1980s, as well as for managing big development projects that were completely inappropriate to local conditions It has since tried to improve its performance by working more closely with developing countries and somewhat distancing itself from the positions of the International Monetary Fund The World Bank is located in Washington, D C; An institution that provides loans for development projects, funded by rich countries and from the interest on its loans In the past, the World Bank has been criticised for supporting large-scale infrastructure projects that did little to reduce poverty Today, there is more focus on development through 'poverty research strategy papers' of individual countries; The WB is an international financial institution, owned by 181 member countries and based in Washington D C Voting power depends on financial contributions, proportional to economic size of the country So essentially, the G8: Japan, Italy, Germany, US, UK, France, Canada, Russia countries hold over 50% of the power within the World Bank; International Bank for Reconstruction and Development: a United Nations agency created to assist developing nations by loans guaranteed by member governments; The International Bank for Reconstruction and Redevelopment, an international organization that provides long-term loans to assist developing countries in building dams, roads, and other physical capital that would contribute to their economic development 349; A multilateral development finance agency created by the 1944 Bretton Woods, (New Hampshire) negotiations It makes loans to developing countries for social overhead capital projects that are guaranteed by the recipient country See: International Bank for Reconstruction and Development; an international agency, established after World War II, designed to promote the economic development of poorer countries through lending channelled from industrialised countries (chapter 19); A bank made up of members of the IMF whose aim is to assist in the development of member states by making loans where private capital is not available; A multilateral development finance agency created by the 1944 Bretton Woods, New Hampshire negotiations It makes loans to developing countries for social overhead capital projects, which are guaranteed by the recipient country See: International Bank for Reconstruction and Development; Created as a sister organization to the International Monetary Fund as a result of the Bretton Woods conference Its purpose, after initially emphasizing the reconstruction of Europe after World War II, has been to lend funds at commercial rates and to provide technical assistance in order to facilitate economic development in its poorer member countries Officially called the International Bank for Reconstruction and Development; An organization created to make loans primarily to developing countries, with the stipulation that these governments must guarantee the loan Its full name is the International Bank for Reconstruction and Development Also called the IBRD BACK TO TOP; World development report Washington, D C : World Bank Annual; Formed to be the bank lender and technical advisor to the developing countries, utilizing funds and technical resources from the member nations; wb