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World Bank

The World Bank is an essential source of financial and technical assistance to developing countries around the world. It was formed in 1944, due to establish a new global economic order at the end of World War II. The bank was designed to smooth out the currency and capital shortages. Their mission is to fight poverty for lasting results and to help people, help themselves and their environment by providing resources, sharing knowledge, building capacity, and creating partnerships in the public and private sectors. The world bank is made up of two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Both Institutions are complemented by that of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID).

The International Bank for Reconstruction and Development (IBRD) is commonly know as the World Bank, it was designed to loan money to rebuild underdeveloped nations, a lot of its money has gone to big infrastructure projects. It’s goal is to reduce poverty in middle-income and creditworthy poorer countries, by promoting sustainable development through loans. IBRD raises most of its fund through the worlds financial markets, and also has become one of the most established borrowers since 1947. IBRD has made drastic improvements to help prevent poverty they have raised over $400 billion dollars since 1946. In helping all this success is the IBRD board which consist of 25 Executive Directors, five appointed and 20 selected, the elections are held every two years. The Executive Directors of IBRD serve as Executive Directors in the IDA and as members of the Board of Directors of IFC.

The IDA was formed in 1960, which provides interest free credits, and grants to governments of the worlds poorest countries by helping boost the economic growth, reduce inequalities, and improve the peoples living conditions. The credits have zero, or very low interest, the repayments are 25- 40 years, with a 5-10 year grace period. Since the IDA’s was formed the credits and grants have totalled up to 238 billion U.S dollars, and about 50% of the total to Africa. The IDA has helped 81 of the countries poorest countries which, 39 of them are in Africa. IDA has also provided more than 3 billion U.S dollars in 67 countries to create 1,500 counseling and testing sites, ultimately HIV testing nearly 7 million people. This has helped more than 1.8 million children, and half a million adults through education, nutrition and much more. Helping people have the knowledge of HIV and how serious it is, is a huge outcome. Counseling helps the people understand and in doing so will have a huge impact on their lives, they will live happier and healthier lives.

The IFC was established in 1946, and since then has been a member of the World Bank Group. The IFC is owned by 182 member countries, which determines all of their policies. The IFC helps create jobs, generate tax revenues, help the community, help corporate governance and environmental performance. They have been helping more than 100 developing countries. IFC purpose is to help people escape poverty. Developing countries usually suffer from poverty, the IFC is a great system to help replenish the growth of the country, and to help the people. One of the many countries that the IFC has improved is Sub- Saharan Africa. The IFC’s Strategy for promoting a maintainable private sector growth are base on three big points. Improving the investment climate, enhancing support to small and medium enterprises, and developing more infrastructure and agribusiness projects. The IFC is financially independent, but is still is an active part of the World Bank Group.

In September, 1985 MIGA was formed, but it was not until, April 12, 1988 that an international convention established MIGA as the newest member of the World Bank Group. MIGA is helping 150 developing countries provide loans, equity and technical assistance to stimulate private sector investment in developing countries. In some which are small towns in Africa, Asia, Europe, and also some industrialized countries. The team of MIGA have extensive experience in political risk insurance, with backgrounds including banking and capital markets, environmental and social sustainability, project finance and sector specialties, and international law and dispute settlement. They focus on insuring investments in the areas where we can make the greatest difference Countries that are eligible for assistance from the International Development Association, which are the poorest countries, conflict-affected environments, complex deals in infrastructure and extractive industries, especially those involving project finance and environmental and social considerations, South-South investments, which involve from one developing country to another

ICSD is devoted to resolving disputes between States and foreign investors. The ICSD is based in Washington, DC, and was established in 1966. As of May 2011, 157 countries had signed the ICSID Convention. ISCD goal to success is by, promoting education and a broader understanding of the clinical applications of technology, assuring proficiency and quality in the assessment of health through certification and accreditation, supporting clinical and scientific advances in the diagnosis and treatment of osteoporosis, promote appropriate patient access to health assessment technologies.