What is World Bank/meaning/concept

The World Bank or World Bank in English is formed by a group of financial institutions whose main objective is to improve the economic situation of less favored nations.

Historically, the World Bank emerged after World War II with the purpose of rebuilding the global economy.

Just as the International Monetary Fund (IMF) aims to solve problems related to the balance of payments of nations, the World Bank is responsible for financing the economic development of poor countries (new infrastructure projects, greater education protection or certain improvements related to housing, health, among others).

As for its general structure , the World Bank is made up of a series of institutions such as the International Bank for Reconstruction and Development and the International Development Association.

According to the sources of the World Bank, in recent years we have been funded important projects for economic recovery in some areas, for example, schools in Pakistan, the infrastructure energy in rural areas of Peru or scholarship programs study for students with fewer features ).

World Bank financing comes from funds allocated to member states

The World Bank group is coordinated by other international entities, for example, through the International Development Bank (IDB) it can be said that we are facing a multilateral institution whose objective is focused on public and private projects. Thus, projects financed by the World Bank must meet two general requirements:

1) that the project is aimed at a strategic area;

2) that member states approve projects with government approval.

Most significant reviews

There are analysts who claim that the World Bank was promoted by the interests of the United States, basically to consolidate and expand liberal and neoliberal ideology throughout the planet.

There are groups of social activists and institutions that consider the World Bank as an ally of large corporations. In this sense, instead of fighting poverty, the indebtedness of the least favored nations is promoted. This thesis is supported by the top political leaders of Bolivia, Ecuador, Venezuela, Cuba and Uruguay, as well as by some awards, such as the Nobel, as well as prestigious analysts or filmmakers.

The World Bank’s strategy is classified by some as perverse, as it disguises itself as good, but deep down it promotes inequality and impoverishment to consolidate the power of economic elites.

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