The World Bank An Anti Poverty Bank - 859 Words

Introduction The World Bank, created after World War II by the superpowers, is supposed to be an anti-poverty bank. The idea behind it was to help people out of poverty, through projects, and give them an economic opportunity. The projects were mainly concentrated on less developed areas in developing countries, where the World Bank provides loans for capital programs. The World Bank Group states their mission as to end extreme poverty within a generation and boost shared prosperity. After 71 years today, more than 60% of the African population depend on land for subsistence (FAO, 2015), the most it has ever been. This puts into question why these world problems not only remain, but increase. Poverty is persisting around the globe, and African countries are among the lowest ranked in Gross Domestic Product per capita. Despite the mission of ending poverty, a new report showed the worldwide destructive legacy of World Bank projects (Prupis, 2015). Description of the failed Office du Niger Project Many of the failed International Development Projects in Africa started as good ideas. One such project is the Office du Niger project. The Office du Niger was started in Mali while France had colonized West Africa, and it was the dream of a French engineer that the water of the Niger River could be diverted for irrigation of cotton farms. In general, it was a big loser for many decades because the cotton and rice that was being cultivated was always at a net loss. Then, in theShow MoreRelated Role of IMF and World Bank Essay example1433 Words   |  6 Pageswill examine the roles of the International Monetary Fund and World Bank with parallels to the Asian Development Bank and African Development Bank Group. It will include descriptions of these institutions, an explanation of how they are used in global financing operations and their importance in managing global risk. What is the Difference Between the IMF and World Bank? One source describes the differences between the two primary world financial organizations this way: â€Å"The IMF keeps account of tradeRead MoreCase Study Analysis – â€Å"Aid, Debt Relief, and Trade: an Agenda for Fighting World Poverty†1057 Words   |  5 PagesHarvard Business School’s Case Study â€Å"Aid, Debt Relief, and Trade: An agenda for fighting World Poverty† outlines the steps, and missteps, that the world community has taken since World War II to address the efficacy of international assistance. The study focuses on international financial institutions (IFIs) and their ability to help poor nations break out of poverty and the possible obligations of rich, developed countries to assist the heavily indebted poor countries (HIPCs). Additionally, theRead MoreChallenges Faced By The Country Of India1280 Words   |  6 Pagesof the many problems which they face. As with many developing countries, India has a predominant issue when it comes t o poverty. In August of 1947, Jawaharlal Nehru, the country’s first prime minister, wrote the national document, â€Å"A Tryst with Destiny†. In the document he states, â€Å"The future beckons to us. Whither do we go and what shall be our endeavor?...to fight and end poverty and ignorance and disease and inequality of opportunity...which will ensure justice and fullness of life to every manRead MoreThe International Monetary Fund ( Imf )1089 Words   |  5 PagesThe International Monetary Fund (IMF) was established in 1946, along with the World Bank. The IMF was developed to promote all monetary cooperation and remedy economic problems incurred during the post - war reconstruction period (Baylis; 2008: 245). The IMF was therefore considered as the â€Å"rule keeper† and an important component in public international management. In the pursuit to stabilise the exchange rate system, the IMF reserves the authority to change exchange rates. Another vital role isR ead MoreNegative Impact Of World Bank Structural Adjustment Program852 Words   |  4 PagesNEGATIVE IMPACTS OF WORLD BANK’S STRUCTURAL ADJUSTMENT PROGRAM (SAP) IN GHANA INTRODUCTION: Writing about the negative impacts of The World Bank Structural Adjustment Program in Ghana, my country of origin is something I can do with my eyes closed, because being an ordinary Ghanaian, born and raised in Ghana, I do not need a research to know what these institutions have done to the developing countries they impose their ill intended programs on. Even the blind can feel hunger, lack of access toRead MoreGlobalization and Its Discontents1109 Words   |  5 PagesOrganizations – powerful institutions today A. International Bureaucrats – the â€Å"faceless symbols of the world economic order† are under attack B. Protests of Int’l Org Meetings – continual flashpoints/conflict 1. WTO – Seattle, 1999 protest 2. Annual IMF/World Bank protests 3. Protests not new in developing world, ARE new in developed world 4. Now, with communications advances, even 16-year olds have an opinion on NAFTA 5. AsRead More Assess some of the ways in which Third World Debt might be reduced.1100 Words   |  5 PagesAssess some of the ways in which Third World Debt might be reduced. Despite the overwhelming number of statistics and indicators, global poverty is as hard to measure as it is to conceptualize. One fact is undeniable: someone is going to have to pay for past debts. It could be the people in debtor countries, or the banks, or the people in advanced industrial countries. Most likely it will be some combination of these three groups. In the last ten years, there have been a variety of proposalsRead MorePoverty And The Poverty Of Canada1236 Words   |  5 PagesUnfortunately for every group of seven people in Canada there is one person who knows this isn’t impossible at all; it’s their reality, and it’s called poverty. Being one of the eight richest and highly industrialized countries in the entire world, and apart of the G8 countries, Canada is still the only one that hasn’t devised a national anti-poverty plan or even a housing plan. Which is absurd, because according to a 2010 report by the Wellesley Institute titled Precarious Housing in Canada betweenRead MoreEssay on Poverty and Income Inequality in China1348 Words   |  6 PagesAnother Inquiry on the Economic Welfare and Poverty in China The trade-off between economic growth and redistribution has become one of the major notes concerning the emerging economies of post-Cold War world. Adding to this struggle the urge to integrate into the international system while keeping the balances right at home has been another macro-level concern. In conjunction such liabilities not only necessitates the examination of fiscal and structural reforms but also the international trendsRead MoreHostility Against the World Trade Organization, International Monetary Fund, and World Bank804 Words   |  3 Pagesï » ¿Hostility against the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank Far from being seen as objective entities, the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank are often conceptualized as instruments of the developed world. It is alleged that they are used to enforce crippling economic policies upon the developing world. To some extent, it is perhaps inevitable that these international institutions are seen as such. The memory