PowerPoint Presentation Economic Growth and development in Southeast Asia

More WB…

• World Bank is heavily dominated by US interests, with strong ties to the US treasury
• All WB presidents are US, nominated by the US president
• Beginning to change with in response to changing distribution of wealth, changing global financial flows (including but not limited to aid flows)
• World today looks very different than 1970s/80s
• World Bank consists of five affiliated institutions operating in 100+ countries (20,000+ staff and consultants)
• IBRD
• International Development Association (IDA)
• International Finance Corp (IFC)
• Multilateral Investment Guarantee Agency (MIGA)
• International Center for Settlement of Investment Disputes (ICSID)
• Most funding provided by the WB is not aid
• IBRD lends to middle income countries at market rates
• Borrows from international capital markets, relends to developing countries at cheaper rates than countries can obtain directly
• But demand for IBRD loans has been falling, esp as countries progress, become more creditworthy and can access international markets
• WB has becomes lender of last resort. Increasing exposure in poor, conflict affected and fragile states