World Bank
Some of the key events about World Bank
- 1944Established at the Bretton Woods Conference to aid post-World War II reconstruction
- 1960Created the International Development Association to provide loans to the poorest countries
- 1960Criticized for focusing primarily on large infrastructure projects while neglecting social development
- 1965Launched the International Centre for Settlement of Investment Disputes to resolve disputes between foreign investors and states
- 1976Accused of supporting oppressive regimes through structural adjustment programs
- 1981Faced backlash for promoting privatization policies that led to increased inequality in developing countries
- 1985Criticized for environmental damage caused by large-scale dam projects it funded
- 1988Initiated the Multilateral Investment Guarantee Agency to promote foreign direct investment in developing countries
- 1990Structural adjustment policies linked to increased poverty and reduced access to healthcare in Africa
- 1994Narmada Dam project in India displaced thousands without adequate compensation
- 1996Partnered with the IMF to launch the Heavily Indebted Poor Countries Initiative to reduce debt burdens
- 2000Adopted the Millennium Development Goals to combat poverty, hunger, disease, and illiteracy
- 2000Accused of pushing for water privatization in Bolivia, leading to social unrest
- 2007Internal report revealed significant failures in anti-corruption efforts
- 2008Established the Climate Investment Funds to support developing countries in mitigating climate change
- 2010Increased its capital by $86 billion to respond to the global financial crisis
- 2011Criticized for land grabbing practices in developing countries
- 2015Committed to ending extreme poverty by 2030 and promoting shared prosperity
- 2015Faced allegations of violating its own safeguard policies in infrastructure projects
- 2020Pledged $160 billion over 15 months to help countries address health, economic, and social impacts of the COVID-19 pandemic
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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