The World Bank is a specialized agencies of the United Nations. Their stated purpose is to reduce poverty through low-interest loans, interest-free loans at banking and economic aid to developing nations. It is consist of 185 members. This organization was created in 1944 and it is headquartered at Washington, DC, United States.
The World Bank Group have five specialized multilateral agencies of the United Nations:
1. The International Bank for Reconstruction and Development (IBRD) have 185 member countries. It was created in 1945, aims to achieve poverty reduction in developing countries and middle-income and creditworthy, providing financial advice on economic management. Certainly is the main branch of the World Bank Group, having to belong to him for membership of any of the following organizations. (Learn Economics)
2. The International Development Association (IDA) have as member to 166 countries. It was created in 1960, the members of this association made contributions that allow the World Bank (WB) provide around 6,000 and 7,000 million dollars annually in credit, with a very low interest, to those 78 countries that are considered the poorest. The international development association is very important for those countries, called "developing", who cannot get financing at market circumstance. This give money for the development of services such as education, housing, water, sanitation, and making investments and reforms to promote productivity and increasing employment. (Learn Economics)
3. According to Lear Economics, the International Finance Corporation (IFC) have as member 179 countries. it was created in 1956, this corporation is responsible to foment the economic in developing countries with the help of private sect...
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...try that has the largest number of shares (together with the International Monetary Fund) and therefore has a great influence on the direction of the organization. Due to its great number of shares, is also the only country with veto rights. Generally, members of the Board of Governors are finance ministers or development of the member countries. They meet once a year at the annual Board of Governors of the World Bank Group and International Monetary Fund. (Preserves Articles)
Since the Board of Governors meets once a year only, delegating specific tasks to 25 executive directors who work in the offices of the World Bank. The five largest shareholders of the World Bank are France, Germany, Japan, the United Kingdom and the United States, who each choose an executive director, while other member countries are represented by the remaining 19 CEOs. (The World Bank)
every nation in the world belongs to the United Nations. The United Nations has four purposes: to maintain international peace and security; to develop friendly relations among nations; to cooperate in solving international problems and in promoting respect for human rights; and to be a center for harmonizing the actions of nations.The United Nations is not a world government though,and it does not make laws.
The Federal Reserve System is the central banking authority of the United States. It acts as a fiscal agent for the United States government and is custodian of the reserve accounts of commercial banks, makes loans to commercial banks, and is authorized to issue Federal Reserve notes that constitute the entire supply of paper currency of the country. Created by the Federal Reserve Act of 1913, it is comprised of 12 Federal Reserve banks, the Federal Open Market Committee, and the Federal Advisory Council, and since 1976, a Consumer Advisory Council which includes several thousand member banks. The board of Governors of the Federal Reserve System determines the reserve requirements of the member banks within statutory limits, reviews and determines the discount rates established pursuant to the Federal Reserve Act to serve the public interest; it is governed by a board of nine directors, six of whom are elected by the member banks and three of whom are appointed by the Board of Governors of the Federal Reserve System. The Federal Reserve banks are located in Boston, New York, Philadelphia, Chicago, San Francisco, Cleveland, Richmond, Atlanta, Saint Louis, Minneapolis, Kansas City and Dallas.
389). Federal Reserve Banks has twelve regional districts throughout the United States, each banks with 9-member board of directors. Some of their responsibilities would include; distribution of currency, act as a central clearing system (clear checks), supervise banks, and department of Treasury functions. They are also responsible for setting and changing the discount rates and act as the commercial bank of the U.S.
the UN despite its lack of voting power. Having already spoken on this years topics, the
The International Monetary Fund’s “main goal is to ensure the stability of the international monetary and financial system. It helps resolve crises, and works with its member countries to promote growth and alleviate poverty” (Imforg, 2016). My research seems to point to the main failure of the IMF policies as pointing to the same issues faced by any bank – math vs. people. While its goals may be to help alleviate poverty, those same policies are what causes the patient to become sicker or possibly die from the cure. Economists attempt to apply the rigidity, demanding constraints, and unforgiving answers of mathematics to human nature.
The Board of Directors is consisted of 11 members: James M. Elliot, the Chairman of the Board, 3 inside members and 7 outside members. The economy is stable and profitable, but that also means a lot of competition in the market. This poses a great opportunity for the company to grow and gain more of the market share. The only foreseeable real threat that the company will face is new competitors in the market.
is an international confederation of 17 different organisations working in 94 countries worldwide to find solution for the poverty, so it is also owned by many people.
Introduction Pramuka Savings and Development Bank (PSDB) was incorporated in 1997 as the first private savings bank in Sri Lanka. Mr. Rohan Perera was the founder of Pramuka Bank and was the founder and chief executive officer of Seylan Bank previously. After resigning from Seylan Bank, Mr. Perera applied for license to incorporate a commercial bank from Central Bank Sri Lanka. But Central Bank only gave license to operate a Savings and Development Bank. But that was also a debatable topic.
The United Nations Organisation was founded on 24 October 1945 with 51 member states and this number has since grown to 192 Member States. The UN was founded to bring all nations of the world together to strive for peace and development based on the principles of justice, human dignity and the well being of all people. It is made up of 6 principle organs: Trusteeship Council, Security Council, General Assembly, International Court of Justice, Economic and Social Council and Secretariat.
World Bank Group - the group that consists of five organizations created in different times and functionally united,organizationally and geographically, the purpose of which is providing financial and technical assistance to developing countries.
Development can be of two types, one is short term development and other is long term development. Humanitarian aid and disaster relief are short term solution to the existing problems. International development is a long term development which is
“…increasing international trade and financial flows since the Second World War have fostered sustained economic growth over the long term in the world’s high-income states. Some with idle incomes have prospered as well, but low-income economies generally have not made significant gains. The growing world economy has not produced balanced, healthy economic growth in the poorer states. Instead, the cycle of underdevelopment more aptly describes their plight. In the context of weak economies, the negative effects of international trade and foreign investments have been devastating. Issues of trade and currency values preoccupy the economic policies of states with low-income economies even more than those with high incomes because the downturns are far more debilitating.1”
World Bank. Independent Evaluation Group. World Bank (2013). Results and performance of the World Bank Group: Volume 1. Retrieved from World Bank website: http://siteresources.worldbank.org/PROJECTS/Resources/40940-1367867968385/2013_WorldBankforResults.pdf
Machiraju, H. R. , 2002. International Financial Markets And India. 1st ed. New Delhi: New Age International.
Ecobank encourages its work force to be creative. This is because it is through innovation that the bank can survive in an environment which is now being characterized by cut throat competition. Unproductive habits are not encouraged at all.