The World Bank: From Reconstruction to Development to Equity by Katherine Marshall

By Katherine Marshall

The international financial institution is one of the most vital and least understood significant overseas associations. This ebook presents a concise, available and accomplished evaluation of the area Bank's historical past, improvement, constitution, performance and actions.

These topics are illustrated with a large choice of case reports drawn from the Bank's foreign actions. additionally mentioned are the debatable demanding situations that the financial institution now faces within the mild of the feedback from campaigners and NGOs.

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Sample text

The first was country ownership, reflecting the important observation that unless leaders and 16 ‘‘In the catbird’s seat’’ managers responsible for policies and programs are convinced and determined to act, development programs cannot succeed. Too often, it became clear, development institutions including the World Bank had taken too heavy a hand in program design, suiting it to their perceptions of how development should proceed, and had taken far too much at face value national government acceptance of proposed programs and conditions without testing commitment and recognizing the obvious pitfall that came when officials accepted proffered funds in the face of limited options.

Over the remarkable era following World War II, woven through momentous political and social transformations, two related concepts took root. The first was that poverty and misery were not inevitable, and that economic and social progress was possible and desirable for all nations. Second, the developed world has a responsibility to support this process with resources and leadership. ’’ Thus the development world has undergone its own revolution, evolving from a quiet, often deliberate, and technically driven effort led by a few economists and institutions based in the wealthiest countries to a fast-paced multinational and multisectoral world with countless actors holding very different ideas about what works and what does not.

The expectation of a direct link between a loan and capacity to repay by the entity concerned gave way to an understanding of government responsibility for servicing debt where a broader public interest was served which opened the door to very different conceptions of projects and appropriate sectors for World Bank support. The central role of the World Bank president took shape in the early years with a succession of strong leaders, each of whom gave the World Bank a marked and highly personal imprint.

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