World Bank Structure The organization has offices in 109 countries and over 10,000 employees on the payroll (personnel understood as "staff", and approximately 5000 that temporarily or serve as consultants) The amount of World Bank assistance to countries in development for 2002 was 8,100 million U.S. dollars and 11,500 millions in cr extended for a period of 35 to 40 years, with 10 additional years of grace. The World Bank Group consists of: The International Bank for Reconstruction and Development (IBRD, 186 member countries). Created in 1945, aims to achieve poverty reduction in developing countries with middle income and crworthy, providing financial advice in economic management. It is certainly the main branch of the GBM, whichever belong to him for becoming a member of any of the following organizations. The International Development Association (IDA, 169 member countries).Established in 1960, its members are those whomake contributions that enable the World Bank (WB) will provide between 6,000 and 7,000 million dollars annually in cr, almost without interest, to the 79 poorest countries considered. IDA plays an important role because many countries, called "developing", can not receive financing under market conditions. This provides money for the construction of basic services (education, housing, drinking water, sanitation), pushing for reforms and investments aimed at promoting productivity growth and employment. The International Finance Corporation (IFC, 182 members). Founded in 1956, this corporation is charged with promoting the economic development of countries through the private sector. Business partners invest capital through private enterprises in developing countries. Among its functions is the long-term loans and give guarantees and risk management services to its customers and investors.The Multilateral Investment Guarantee Agency (MIGA, 175 member countries). Created in 1988, this organization aims to promote foreign investment in underdeveloped countries, in charge of issuing guarantees to investors against losses caused by noncommercial risks as expropriation, inconvertible currency transfer restrictions, war or riots. The International Center for Settlement of Investment Disputes (ICSID, 144 member countries). Created in 1966. ICSID's primary goal to take care of foreign investment in countries, to provide international services for conciliation and arbitration of disputes concerning this item. This institution has a strong research area that publishes matters on international and national law (according to country), on investment.IFC and MIGA, have in turn with the Office of Compliance Advisor / Ombudsman (CAO ) that has functions of independent advice and care of the claims made by affected communities. Board of Governors, each member country is represented on the Board of Governors, they have the power to make the final decision of the Bank. Among its functions is to admit or suspend country members, to make financial authorizations and budgets and to determine the distribution of IBRD's income. The governors meet annually or when a majority representative, at least two thirds of the total votes required. The term of office for five years provides eligible for reelection. The Board participates with the Executive Directors in the election of President of the Bank.The Board of Governors delegates the responsibility for projects and decisions to the Executive Directors except: admit new members, increase or decrease the capital stock of the Bank, suspend a member, and determine the distribution of net inflows to the Bank.
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