The World Bank is an international organization established by the United Nations. It was set up to assist nations in achieving economic growth. Among other things it provides assistance to countries with different needs in their attempts to become better economically. Some people may be against the World Bank, but you should take a look at its track record before you voice your opinion. The World Bank has helped many countries to achieve rapid economic growth and poverty is a major no-no when it comes to using this agency.
The World Bank brings together the developed and developing parts of the world under one umbrella. The primary objective is to ensure fair and equitable economic progress for all. It enforces the rule of equal access to economic resources regardless of social status or wealth. All governments submit their plans for development to the Bank so as to gain approval from the Bank on how best to proceed with their plans. The projects that are approved to go ahead and undergo several stages of analysis and evaluation before being implemented.
The global economic growth, which the Bank promotes is vital for all of us because without it there will be no improvement in living conditions for anyone. Unfortunately there are those who criticize the Bank for imposing certain economic policies that they deem to be bad for the development of the economy. However, this is not really true. For example, food aid is granted when an area faces an emergency in which there is a shortage of certain types of food. This is done in order to avoid a nation from becoming poor through no fault of its own. The same applies to global environmental policy.
When poor countries are given aid through the Bank, they will have access to technology so that they can further develop their economy. This will generate more employment for these people so that they have something to fall back on when they need it. If nothing were done, more people in these regions would be suffering from poverty. This would result in more people begging on the streets or in the malls. Those are the types of people who get loans from the Bank and end up suffering from poverty.
Another aspect of the global economic growth that the Bank advocates is the promotion of public transport. The World Bank believes that investing in rail systems, buses, and other forms of mass transit will enable a nation to develop more efficiently. Also, it will help reduce the strain on other infrastructure which is causing a nation to lag behind in terms of development. These investments are also likely to bring more jobs to the cities, leading to higher pay rates and ultimately more wealth for everyone.
The World Bank believes in a one-size-fits-all approach to development. They don't really care if a particular nation is poor or rich. What they want is a strong, stable nation that can effectively utilize its natural resources. So they give development aid only when they see that the measures are going to improve the lives of . . . . . . ordinary citizens.