The Interesting Instrument Of The World Bank
The interesting instrument of the World Bank
The World Bank was founded, along with the International Monetary Fund, at the Bretton Woods Monetary and Financial Conference in July 1944. The Bank is an international cooperative institution with 74 member countries. Its objectives are implicit in its official title -- the International Bank for Reconstruction and Development; the urgent problems of reconstruction were its most important concern in the immediate postwar years, but since then its efforts have been concentrated on aiding the economic growth of its less developed member countries. The Bank is associated with the United Nations as a specialized agency. The Bank obtains funds for its operations from the following sources: capital subscribed by its 74 member countries, which include 19 of the Republics of Latin America; sales of Bank bonds in the various capital markets of the world; and net earnings on its operations. In addition, sales of portions of Bank loans to other......
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