Overview

The advances of technology and business have made the world and its nations increasingly interconnected and interdependent in an era of globalisation. In such an environment, the events in one country can and will have a definitive influence on the conditions in others. Examples abound in the stock market, capital flows, living standards, and pollution. The World Bank assembles the collective financial resources of its member nations and uses these funds to address the concerns of its clients. It is a development institution that has a primary goal of reducing world-wide poverty by promoting economic growth in individual countries. To this end, the Bank sponsors an array of programs that contribute to the fight against poverty by funding economic reforms, fighting corruption, and assisting war-torn nations. From the client nations, the Bank requires an budgetary agenda that balances both economic efficiency and social programs. It is this requisite balancing act that has brought the World Bank a great deal of criticism from anti-globalisation protestors who feel that the Bank mandates hinder social advances in poor and struggling nations. Nonetheless, the Bank continues to fund and support its lofty goals in nations around the world and has responded to its critics by easing some of its lending restraints. This book delves into the issues surrounding the World Bank, which holds a tangible and important influence on every nation in this global society. In order to understand and form a solid opinion about the Bank's role, history, and future, one must be familiar with the information presented here.

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9781590335505

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