Issues motivated for choosing
The World Bank is an
international financial organization which was originally founded and build in
1944. In this time it was its primarily task to help rebuilding Europe in a
social and financial way. Many places in Europe were enormously damaged by the
second world war. After this first task appeared to be finished in a satisfying
way the institution shifted its mayor focus on a different task for which it is
known in the present time: Supporting countries and their inhabitants of middle
to low wage levels.
I am studying myself a subject
which is called “Public and Non-Profit management”. It is particulary designed
to support a career in the public and the non-profit sector. Since the actions
of the World Bank are allocated almost completely in the second sector I might
well think of myself as being employed by this organization in the future.
Therefore it is in my personal interest to know the most about this big player
in the non-profit sector. Meanwhile I am going to illustrate origin and history
of this institution, as I am going to evaluate their contemporary work by
reviewing existing literature and researching
to build my own opinion and to be able to give future recommendations
concerning on how the World Bank can meet their objectives.
History & Origin
Initially the world bank was
created in 1944 at the “Bretton Woods Conference”. As the same instant the
“International Monetary Fund” was created alongside. Each of them are located
in Washington D.C. and work together in close cooperation. Under strict
conditions the World Bank gave its first loan to France. It summed up to the
amount of 250 million USD.
Along with the “Marshall Plan”
1947 many European countries received financial aid and the World Bank started
shifting its focus to Non-European countries. Starting 1974 the bank defined
the basic needs of people in development countries and aimed to fulfill them
better. The amount of their given loans has significantly increased as they
shifted from only giving support to the improvement of infrastructure, which
was their initial plan to boost local economies, over to giving aid in terms of
social services and in other public sectors.
As consequence from the sheer amount of given loans, the developing
world debt rose between 1976 to 1980 a drastically 20% each year.
In 1980 along with a new
president a new policy was called in existence. Alden W. Clausen did have a less positive
picture of development countries and he aimed to streamline development
country’s economies in a way which should make it possible for them to repay
their debt. As consequence of a lack of financial means in the lowest ladders
of society many people especially children had to suffer. According to Unicef
the World Bank was responsible for “reduced health, nutritional and educational
levels for tens of millions of children in Asia, Latin America, and
In consequence the World Bank
received harsh critics and they therefore started to change the organizational
agenda. Beginning in 1989 they started giving loans to NGOs and organizations
which are committed to improving the enviremental situation throughout development
countries. Furthermore they realized climate change as a uprising new
challenge, which faces humanity as a whole and consequently committed to the
goal of banning 95 percent of ozone-harming chemicals till 2015. Furthermore,
they called out the “Six Strategic Theme” defining further objectives of the
In 2000 the World Bank joined
the “war on AIDS” and in 2011 they joined the Stop Tuberculosis Partnership.