...column after column of black Lincoln Town Cars disgorged international finance officials onto the sidewalk in front of World Bank headquarters on Friday, a raggedy group of about 20 free-market protesters gathered across the street to express their...
...at the meeting of the Group of Seven industrialized nations and the annual sessions of the International Monetary Fund and World Bank. Many participants spoke in unusually somber tones of the need for action. The talks shifted Sunday to the World Bank...
...of Defense who likewise paved his way to the presidency by waging war on a poor nation, in his case Vietnam. 9. The current World Bank president, Robert Zoellick, also knows how to get the job done, as demonstrated by his key role in helping George Bush...
...that unauthorized persons had complete access to the rest of the bank's network for nearly a month in June and July. But a World Bank spokesperson insists the FOX report is inaccurate. "The story is fundamentally wrong," the spokesperson said in an...
Background
World Bank (often referred to by employees and others as simply "the Bank") is an internationally supported bank that provides financial and technical assistance to developing countries for development programs (e.g. bridges, roads, schools, etc.) with the stated goal of reducing poverty. The World Bank differs from the World Bank Group in that the former comprises only the International Bank for Reconstruction and Development and the International Development Association, while the latter incorporates these entities in addition to three others. The World Bank was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. The concept was originally conceived in July 1944 at the United Nations Monetary and Financial Conference. Two years later, the Bank issued its first loan: $250 million to France for post-war reconstruction, the main focus of the Bank's work in the early post-World War II years. Over time, the "development" side of the Bank's work has assumed a larger share of its lending, although it is still involved in post-conflict reconstruction, together with reconstruction after natural disasters, response to humanitarian emergencies and post-conflict rehabilitation needs affecting developing and transition economies. There are some criticisms of the results of the World Bank's "development schemes" leading to corruption and widespread exploitation of the corporations who are given monopolies of developing nation's resources.
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Timeline
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5 hours ago from International Herald Tribune