World Bank

The World Bank is the largest public development institution in the world. The World Bank was established in 1944, created at the Bretton Woods Agreement. Its first focus was to rebuild Europe after World War II, and then the World Bank became more focus on developing countries. The headquarters are in Washington, DC and owned by 187 member countries and its main purpose is to promote economic growth and the development of market economies in other words to reduce poverty. There are five organizations within the World Bank, the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Multilateral Investment Guarantee Agency, and the International Centre for Settlement of Investment Disputes. The first two are the major catalyst for the achievement of the Millennium Development Goals. The International Bank for Reconstruction and development aims to reduce poverty in middle-income and creditworthy poorer countries, while International Development Association focuses exclusively on the world’s poorest countries. They provide low-interest loans, interest-free credits, and grants to developing countries, which are used for education, health, public administration, infrastructure, financial and private sector development, environmental and natural resource innovations. The World Bank shares their knowledge with developing countries.

The World Bank has fulfilled their responsibilities that I mentioned above. The bank has improved education, health, infrastructure, financial and private sector development, and environmental and natural resource innovations. The bank is lending billions every year to these countries which don’t have enough capital. In education it has increasing children access to school and enabling girls to attend. Teacher were recruited and trained. For example in Buthan primary completion rates reached 90% in 2009 an increase of 14% since 2006. In Mozambique 8 times...