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