| Infrastructure development is crucial in | | | | imparts facilities for the pacification and |
| every country that wants to escalate forward | | | | mediation of feuds between member countries |
| in their economic status. However, there are | | | | and investors. |
| those that cannot afford because of the lack | | | | |
| of resources. The World Bank, established in | | | | Some of the members of World Bank are |
| 1994, is such a vital spring in international | | | | Afghanistan, Albania, Barbuda, Belize, Chile, |
| business and finance that has been assisting | | | | China, Denmark, Dominica, Ecuador, Egypt, |
| countries all over the world. | | | | Guinea, Germany, Haiti, Hungary, Iceland, |
| | | | Indonesia,. Korea, Kuwait, Jordan, Jamaica, |
| It is not a bank, as the name suggests, but | | | | Kenya, Kazakhstan, Libya, Luxembourg, |
| it is a global organization that is made up | | | | Macedonia, Myanmar, Namibia, Nepal, Pakistan, |
| of two special progressive institutions. This | | | | Panama, Poland, Philippines, Romania, Rwanda, |
| international business and finance source | | | | Samoa, Senegal, Thailand, Tanzania, Uganda, |
| consists of 184 nations together with the | | | | Ukraine, Venezuela, Vanuatu, Zambia and |
| International Bank for Reconstruction & | | | | Zimbabwe. In the International Bank for |
| Development (IBRD) and International | | | | Reconstruction and Development, it has a |
| Development Association (IAD). | | | | total of 184; 165 for International |
| | | | Development Association; 178 for |
| Each has a specific responsibility supportive | | | | International Finance Corporation; 167 for |
| of its mission to alleviate poverty and | | | | Multilateral Investment Guarantee Agency and |
| lifestyle improvements. The International | | | | 143 for International Center for Settlement |
| Bank for Reconstruction & Development (IBRD) | | | | of Investment Disputes. |
| concentrates on middle income and | | | | |
| creditworthy poor regions while the | | | | Since it is an international business and |
| International Development Association (IDA) | | | | finance cooperative, the shareholders are |
| is on the poorest regions in the globe. Both | | | | represented by a Board of Governors. They |
| offers low- interest loans and interest- free | | | | gather every once a year at the Annual |
| credit that also provides education, health, | | | | Meetings to make policies as well as discuss |
| communications and other beneficial purposes. | | | | about the International Monetary Fund. Since |
| | | | their convention only happens very seldom, |
| This international business and finance group | | | | they delegate specific responsibilities to |
| also has its own affiliates like the | | | | about 24 executive directors who work on- |
| International Finance Corporation (IFC), | | | | site at the headquarters located in |
| Multilateral Investment Guarantee Agency | | | | Washington D.C. The biggest depositors are |
| (MIGA), International Center for Settlement | | | | United Kingdom, France, Germany, Japan and |
| of Investment Disputes (ICSID). IFC grants | | | | United States who are the ones who appoint. |
| advisory services, loans, structured finance, | | | | At present, the president of World Bank is |
| equity and management products that build the | | | | Paul Wolfowitz who holds a five- year and |
| private sector in developing countries. MIGA | | | | renewable term. He is accountable for the |
| promotes global immediate investment into | | | | overall management of the organization and |
| developing nations to assist economic growth, | | | | chairs meetings that are called for. |
| improve lives and reduce poverty. ICSID | | | | |