Organisations: World Bank

14 Jul 2011 By Admin
  • World Bank is an international organization that aims to reduce poverty and improve people's life by promoting foreign investment, international trade and facilitating capital investment.
  • It is basically a financial institution that provides loans to developing countries for capital programmes.
  • The bank has 181 member nations and lends more that $20billion a year to development projects all around the world,mainly for developing and under developed countries.
  • It comprises of two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).The World Bank was created at the Bretton Woods Conference in 1944.
  • The current president of the bank is Robert B. Zoellick and the chief economist is Justin Yifu Lin.
  • India and World Bank - Latest News
July 5, 2011 : National Rural Livelihoods Project - Credit of $1 billion.
June 30, 2011: Vishnugad Pipalkoti Hydro Electric Project - Credit of $648 million.
May 31, 2011: National Ganga River Basin Project - Credit of $1 billion.
May 31, 2011:  Eastern Dedicated Freight Corridor Project - Credit of $975 million.

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