PowerPoint Presentation Economic Growth and development in Southeast Asia

World Bank is the largest multilateral aid institution

• Initially the International Bank for Reconstruction and Development (IBRD),
• founded at the Bretton Woods conference in July 1944
• To finance the reconstruction of Europe after WWII
• Shifted to focus on countries outside Europe with the advent of the Marshall Plan (1947), until 1968 focus on building economic infrastructure – e.g. ports, roads, irrigation systems
• 1970s, revised focus on basic needs including education and health
• McNamara introduced focus on poverty
• 1980s, difficult era of structural adjustment, expanded lending to Africa
• 1990s through present
• More diversified lending portfolio, more open processes (in response to harsh criticisms in 1980s), greater focus on environment, social concerns