Down with the World Bank

Article Abstract:

The World Bank gave out $21.4 billion in loans for fiscal 1995-96. The rate of loans has previously prompted an internal report criticising the bank for concentrating on quantitative lending targets rather than project quality. The Wapenhans Report found that 37.5% of bank projects had failed and an audit in 1996 by the United States General Accounting Office found no improvement. Task managers not only devise and promote new projects but supervise and evaluate projects, and if the World Bank is to move to a culture of implementation, project supervision and evaluation should be undertaken by staff who are not involved in design and approvals.

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The new World (Bank) Order: what is a bank without profit?

Article Abstract:

The World Bank has a fundamentally flawed design that makes it operate like a govt institution, with all the predictable drawbacks, rather than a commercial bank. Such a top-down approach seems irrelevant when overseas investment outstrips international aid, and when a barrage of minor scandals and admissions of failure rock the organization. Even an internal audit using the World Bank's own lax criteria in 1992 rated unsatisfactory 37% of the completed projects it had financed. A new charter might help.

Development banks

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Finally, the World Bank is adapting

Article Abstract:

The World Bank has finally recognized the need to focus on institutional reforms to alleviate poverty in most of its third world clients. The move is a positive step from pure policy prescriptions that characterized the World Bank's approach to combating poverty. Things that haven't changed include the World Bank's commitment to the development of financial markets, infrastructure amd human development.

Planning, International aspects, Column, International economic relations, Financial management, International finance

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