of the most important banks in the world is the World Bank or
Bank for Reconstruction and Development, as known before. The side of
market on which the World Bank functions is a very large one,
being an alternative easy to be accomplished.
The World Bank’s
purpose is to help borrowers reduce poverty and improve living
through sustainable growth and investment in people.
Compact, endorsed by the Board of Executive Directors on March 31, 1997
ambitious objectives for the Bank, including strenghtening the
effectiveness of lending and nonlending services; improving
client needs, developing a broader range of products and services;
overhead and shifting resources to the front line; further
activities; rebuilding professional expertize and technical capacity
sharing the best global knowledge on development with clients and
United Nations conferences have adopted several goals for the
century. The Bank is helping to achieve the goals and will monitor them
countries it assists. The goals are to:
Reduce by half the proportion of people living in
extreme poverty by 2015
Achieve universal primary education in all countries
Achieve gender quality in primary and secondary
education by 2005
Reduce infant and child mortality by two thirds and
maternal deaths by three quarters, by
Provide universal access to reproductive health
services by 2015
Reverse current global and national loss of
environmental resources by 2015
goals as ambitious and important as these will require significant
the global community.
objectives are very ambitious and for their accomplishment, the
would be necessary, otherwise the gap between the civilizations would
disadvantage for everybody.
there are many obstacles for aiming these goals, some of them starting
from the internal organization of the World Bank.
As provided in the
Articles of Agreement, five of the twenty-four executive directors are
appointed by the five member governments having the largest number of
the rest are elected by the other members of governments, who form
in an election process conducted every two years.
Board of Executive Directors oversight responsibility covers virtually
policy, so its role cannot be clearly separated from most of the Bank s
activities and initiatives.
into account that the most of the World
Bank’s projects are financed by the United States,
we can see why some of the European countries are against
this is because the loans are given only after they are convinced that
correspond to some high standards, like applying projects at
level, which would give USA
a great hint: new markets for the States, while the Europeans wouldn’t
access to some US
markets. And then another problem: euro would go down in value too much
with the American dollar.
could also mean monopoly, control of the
whole world, which would destroy the fragile echilibrium. Everything is
politics, applied politics and interests of different countries in the
According to a
report, written yearly, while more
people in its client countries are healthier, better fed and more
ever before, progress is uneven among countries, and much more needs to
done. Increasing its development effectiveness lies at the heart of the
It looks like
not all agree with this: some of the
projects, applied in different countries, projects which were supposed
modify the whole economy structure, were not good at all, they led to
about the capacity of the World Bank to help other countries, and in
situations, and the globalization would be a great disaster.
important and solids arguments pro and
against globalization, but only time can judge better than we do.