{"id":5096,"date":"2021-02-20T13:34:27","date_gmt":"2021-02-20T08:04:27","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?page_id=5096"},"modified":"2024-04-24T16:36:30","modified_gmt":"2024-04-24T11:06:30","password":"","slug":"world-bank","status":"publish","type":"docs","link":"https:\/\/pwonlyias.com\/stage\/docs\/world-bank","title":{"rendered":"World Bank"},"content":{"rendered":"<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 99.919%; border-style: solid; border-color: #000000; background-color: #ff5e00;\">\n<h2 style=\"text-align: center;\"><span style=\"color: #ffffff;\"><strong><span style=\"font-size: 24pt;\">World Bank: Initiatives, Impact, and Critique of Global Development Efforts<\/span><\/strong><\/span><\/h2>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-size: 18pt; color: #ff6600;\"><strong>World Bank Initiatives in Social Development<\/strong><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">World Bank (WB) is one of the five institutions created at Bretton woods in 1944, of which India was a founding member.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">World Bank comprises of four institutions:<\/span><\/li>\n<li><span style=\"font-weight: 400;\">International Bank for Reconstruction and Development (IBRD)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">International Development Association (IDA),<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">IFC<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">MIGA<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The World Bank group is affiliated to the United Nations and maintains its unique governance structure, with an official goal of \u201cReduction Of Poverty\u201d, thus directly contributing towards Sustainable Development Goals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The World Bank has initiated many social development programmes in India ranging from alleviating poverty to inclusive growth.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social Development focuses on the need to \u201cput people first\u201d in development processes. Poverty is more than low income; it is also about vulnerability, exclusion, unaccountable institutions, powerlessness, and exposure to violence.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social Development promotes social inclusion of the poor and vulnerable by empowering people, building cohesive and resilient societies, and making institutions accessible and accountable to citizens.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Working with governments, communities (including Indigenous Peoples\u2019 communities), civil society, and the private sector, Social Development translates the complex relationship between societies and states into operations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Empirical evidence and operational experience show that Social Development promotes economic growth and leads to better interventions and a higher quality of life.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The World Bank\u2019s work in social development supports measures for poor, excluded, and vulnerable women and men to have equal access to opportunities and to contribute to social and economic progress and share in its rewards. It brings voices of the poor and vulnerable into development processes by making evidence-based policy and program<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The World Bank has also been actively engaged in improving the economic and social status of women, tribals through targeted programmes so that they can become part of the mainstream.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Addressing common needs, overcoming constraints, and giving consideration to diverse interests helps maintain cohesion and prevents conflict.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Bank also supports community organization and empowerment to demand more effective, efficient, responsive, and transparent public institutions and service providers. This approach helps communities confront a range of negative trends and shocks whether economic, political, or environmental.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<h3><span style=\"color: #ff6600; font-size: 18pt;\"><strong>Role of Different Institutions under World Bank group:<\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IBRD:<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">IBRD provides commercial or concessional loan to only sovereign states or projects backed by sovereign states.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Its loans are aimed to improve transportation and infrastructure, education, domestic policy, environmental consciousness, energy investments, healthcare, access to food and potable water, and access to improved sanitation.<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IDA:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">International Development Association (IDA) helps the world\u2019s poorest countries and aims to reduce poverty by providing interest-free loans (called IDA Credits) and grants for programs that boost economic growth, reduce inequalities and improve people\u2019s living conditions.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">International Finance Corporation (IFC):<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">IFC was created in 1956 to foster private sector investment in developing nations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">It finances the private sector investment, mobilizing capital in the international financial markets, and providing advisory services to businesses and governments.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Multilateral Investment Guarantee (MIGA):<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">MIGA promotes foreign direct investment (FDI) into developing countries to help support economic growth, reduce poverty, and improve people\u2019s lives.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"color: #ff6600; font-size: 18pt;\"><strong>Role of World Bank in the Development Project in India<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India has been one of the main beneficiaries of developmental assistance from the World Bank. India received support to the tune of USD 5 billion in 2014 for different projects.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social development projects focusing on areas of community development, health, education, sanitation, agriculture, women have been an important area where loan assistance from World Bank has been used.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Apart from providing loan assistance, the World Bank has been involved in providing knowledge support in efficient implementation of programmes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Achievement of MDG and SDG has been an important objective of financial and technical assistance provided by the World Bank. Replicating best practices, innovating has been the main benefits of WB supported programmes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Focus of good governance, participative approach and community building and thus achieving sustainable development has been the hallmark of World Bank led projects.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #ff6600; font-size: 18pt;\"><strong>Some of the Important Programmes supported by World Bank<\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The India Elementary Education Project (Sarva Shiksha Abhiyan or SSA):<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">IDA $1.25 billion over two projects, Specific Investment Loans) is an example of a project that reaches out to groups that have been excluded, aiming to boost the enrollment of children from poor families, marginalized and tribal groups and those with special needs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">It has helped the government enroll more than 17 million out-of-school children in elementary school, including girls, first-generation learners from long-deprived communities and minority communities, and children with special needs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The number of out-of-school children declined from 25 million to 8.1 million (less than 5 percent of the age cohort 6-14).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Approximately 2.9 million children with special needs have been identified and are being covered with a variety of interventions, like residential centers, home-based education.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bihar Rural Livelihoods Project, popularly known as JEEViKA (livelihoods):<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">A World Bank project has supported 1.8 million women in rural Bihar to organize themselves into self-help groups and federations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Women in Bihar are running commercial organizations like producer companies contributing to increase in agricultural productivity and realization of better prices of their produce.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The institutional platform of empowered women is now being scaled up by the government of Bihar all over the state to cover 4.5 million more women.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc\/pw-only-ias?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Classes<\/a><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tejaswini: Socio-economic Empowerment of Adolescent Girls &#038; Young Women Project:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">This is the first World Bank project in India that is solely focused on the welfare of adolescent girls and young women which will support adolescent girls and young women, ages 14-24, to complete their secondary level education and acquire relevant skills for the job market.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Telangana Rural Inclusive Growth Project:<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">With the support of a US$ 75 million project to enhance the agricultural incomes of small and marginal farmers in the state, and ensure increased access to services related to health, nutrition, sanitation and social entitlements.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">It will focus on increasing economic opportunities for small and marginal farmers, especially from scheduled caste and scheduled tribe households, by helping them gain access to extension services, quality inputs like improved seeds, market linkages, and institutional credit.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Investments will also be made in improving access to services in the areas of health, nutrition, water and sanitation, and increasing coverage and effectiveness of India\u2019s social safety net programs.<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Nai-Manzil Scheme:<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The Government of India and the World Bank today signed a US$ 50 million credit for the Nai Manzil: Education and Skills Training for Minorities Project to help young people from minority communities complete their education and gain from market-driven training programs with the aim of improving their employment outcomes.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The project will support the Government of India\u2019s national Nai Manzil (New Horizon) Scheme, a comprehensive education and skills development program for youth from minority communities, launched in August this year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The project will reach out to disadvantaged youth from minority communities and support their enrollment in open schooling, as well as provide hands-on vocational training.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">It will also provide post-placement support to assist them in finding sustainable employment.<\/span><\/li>\n<\/ul>\n<h3><span style=\"color: #ff6600; font-size: 18pt;\"><strong>World Bank is also supporting many transport initiatives<\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">National Highway Development Project: The World Bank is financing highway construction on the Lucknow-Muzaffarpur corridors. It is also involved in other sector activities such as improving road safety.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rural Roads Program: The project supports the PMGSY in providing all weather roads to villages in four states \u2013 Uttar Pradesh, Jharkhand, Rajasthan and Himachal Pradesh.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">State Roads Projects: State Highways are being upgraded in the states of Kerala, Mizoram, Uttar Pradesh, Tamil Nadu, Punjab, Himachal Pradesh, Orissa and Andhra Pradesh.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Mumbai Urban Transport Project: The project aims to improve transportation in the Mumbai Metropolitan Region by fostering the development of an efficient and sustainable urban transport system \u2013 suburban rail, bus and link roads \u2013 and building effective institutions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sustainable Urban Transport Project: The project aims to promote environmentally sustainable urban transport in various cities and support implementation of the India National Urban Transport Policy (NUTP).<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-size: 18pt; color: #ff6600;\"><strong>Critical analysis of World Bank:<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">World Bank faces criticism, and rightfully so, over four key issues:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Power distribution<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Structural Measures<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sovereign Immunity<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Planning and Implementation<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Power Distribution:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">There has been inequitable distribution of voting power ever since the inception of the World Bank. The World Bank system amounts to $1 = 1 vote. Therefore, richer countries often tend to decide how the developing nations carry out their developmental process, while they only contribute 14% to the world\u2019s population.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sovereign Immunity:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The World Bank has sovereign immunity from all member countries. This leads to moral injustice as it is not accountable to its members and does not have a binding obligation to work in their best interests.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Structural Measures: The structural measures are arguably the main reasons for the astronomical rise in the levels of third-world debt.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Development of exports: The development of exports was encouraged mainly to empower these borrower countries to procure the foreign currency needed to repay the debt. This led them to reduce food crops for the local population, to specialize in one or several export crops.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The complete opening up of markets through elimination of customs barriers: The opening up of markets matched untrained, less well-equipped local producers against multinational conglomerates, hampering their livelihood.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The massive privatization of public companies: The massive privatization of public companies involved selling them off for a song. As a result, the state lost control of strategic elements for development and essential services were entrusted to the private sector.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Planning and Implementation: The World Bank has a very poor implementation record in terms of helping developing countries and has in fact been criticized for extending funds and support with the motive of simply extending its geopolitical presence in these regions.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>World Bank: Initiatives, Impact, and Critique of Global Development Efforts \u00a0\u00a0 World Bank Initiatives in Social Development World Bank (WB) is one of the five institutions created at Bretton woods in 1944, of which India was a founding member. World Bank comprises of four institutions: International Bank for Reconstruction and Development (IBRD) International Development Association&hellip; <a class=\"more-link\" href=\"https:\/\/pwonlyias.com\/stage\/docs\/world-bank\">Continue reading <span class=\"screen-reader-text\">World Bank<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"doc_category":[125],"doc_tag":[],"acf":[],"year_month":"2026-04","word_count":1607,"total_views":"4044","reactions":{"happy":"5","normal":"0","sad":"0"},"author_info":{"name":"bks_editor","author_nicename":"bks_editor","author_url":"https:\/\/pwonlyias.com\/stage\/author\/bks_editor"},"doc_category_info":[{"term_name":"INTERNATIONAL RELATIONS","term_url":"https:\/\/pwonlyias.com\/stage\/docs-category\/international-relations"}],"doc_tag_info":[],"_links":{"self":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/docs\/5096"}],"collection":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/comments?post=5096"}],"version-history":[{"count":3,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/docs\/5096\/revisions"}],"predecessor-version":[{"id":103998,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/docs\/5096\/revisions\/103998"}],"wp:attachment":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media?parent=5096"}],"wp:term":[{"taxonomy":"doc_category","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/doc_category?post=5096"},{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/doc_tag?post=5096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}