What are the objectives of World Bank?
Posted by Ripon Abu Hasnat on Wednesday, September 3, 2014 | 0 comments
Some of the most important objectives
of world bank are given below :
The World Bank was established to
promote long-term foreign investment loans on reasonable terms. The, purposes
of the Bank, as set forth in the 'Articles of Agreement’ are as follows:
(i) To assist in the reconstruction and
development of territories of members by facilitating the investment of
capital for productive purpose including;
(a) the restoration of economies
destroyed or disrupted by war;
(b) the reconversion of productive
facilities to peaceful needs; and
(c) the encouragement of the
development of productive facilities and resources in less developing
countries;
(ii) To promote private investment by
means of guarantee or participation in loans and other investments made by
private investors.
(iii) When private capital is not
available on reasonable terms, to supplement private investment by providing on
suitable conditions finance for productive purpose out of its own capital funds
raised by it and its other resources.
(iv) To promote the long-range balanced
growth of international trade and the maintenance of equilibrium in balances of
payments by encouraging international investment for the development of the
productive resources of members, thereby assisting in raising productivity,
the standard of living, and conditions of labour in their territories.
(v) To arrange the loans made or
guaranteed by it in relation to international loans through other channels so
that the more useful and urgent projects, large and small alike, will be dealt
with first.
(vi) To conduct its operations with due
regard to the effect of international investment on business conditions in the
territories of members and in the immediate postwar years, to assist in bringing
about a smooth transition from a wartime to peacetime economy.
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