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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