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Analysis of The World Bank Group Essay

Assignment id 1007215
Discipline Arts Entertainment
Assignment type Essay
Words 3398
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Evaluation of The World Bank Group Over the last generation, more progress was made in reducing poverty and raising living standards than during any other time ever. In developing countries, life expectances have risen from 55 to 64 decades, Income per person has doubled and Infant Mortality has been decreased by 50 percent. Despite the successes, massive development challenges remain. Three billion people live on less than two dollars per day and 1.3 billion live on less than 1 dollar per day. Over 40,000 people die each day from preventable disease. 130 million never have the opportunity to go to school and 1.3 billion do not have clean drinking water. By enabling poverty to increase in developing countries this may adversely affect wealthier nations as markets and investments opportunities shrink, the environment is damaged and people migrate in search of work and income. The World Bank is helping countries to strengthen and sustain the fundamental conditions they should attract and retain private investment. With World Bank support financial and nonfinancial governments are reforming their overall economies and strengthening banking systems. They are investing in human resources, infrastructure, and environment protection which enhances the attractiveness and productivity of private investment. The World Bank Group The World Bank Group comprises five organizations: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The term World Bank refers to only IBRD and IDA.The World Bank is the largest provider of development assistance to developing countries and countries in transition, committing about $20 billion in new loans every year. Its principal focus is to help people in developing countries raise their standards of living through finance for agriculture, schools, health programs, transportation and other essential needs. The International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) are the private sector affiliates of the World Bank Group. IFC supports private business in the developing world through loan and equity financing. MIGA facilit...

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