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The International Bank for Reconstruction and Development is a part of the interstate group of banking companies "World Bank". This organization has been working since the end of the Second World War. The network was founded by the International Monetary Fund and the United Nations. The head office of the International Bank for Reconstruction and Development (IBRD) is located in the capital of the United States of America - Washington. The founders of the bank set the task of creating a trans-state financial organization that would help implement investment projects.
The important role of the company was especially felt after the end of the Second World War, which negatively affected the economies of almost all European countries. In confronting Hitlers tyranny, these powers suffered colossal losses. The IBRDs task was to support the economy of Western Europe and give impetus to a new round of development. The company developed investment projects, thanks to which money was sent in a rapid flow to the territories affected by the German occupation.
A decade later, the economic position of the capitalist world has stabilized. Great Britain, France, Italy and other countries ceased to be in dire need of financial support, and the bank redirected its attention to the economically weak states of Asia, Latin America, the African continent and eastern Europe. The Russian Federation has also turned to the IBRD for help.
MBRD Bank helps developing countries “get on their feet”. The company provides material assistance, thanks to which the young state can not only survive in the conditions of the global crisis, but also develop its economy, become a politically and financially independent state. To receive support from the IBRD, the countrys leadership needs to conclude a cooperation agreement with the bank.
The financial institution is an active participant in international trade. The Bank has a significant impact on the formation of commercial relations between states.
What services does IBRD provide?
Leaders of states who care about the development of their state and the well-being of the people can apply to the bank for financial support. The bank will provide a loan without any problems. The Russian government has repeatedly asked the companys management for a loan.
IBRD specialists have developed many products with which you can:
- solve the economic problems of a developing power;
- improve the material situation of the population.
For example, the government of the state can direct credit funds to implement projects or conduct scientific research.
The leaders of the young republics often turn to the banks specialists with a request to analyze the economic situation in the country, on the basis of which they could find a way out of the current difficult situation.
Another area of activity of the organization can be called work related to improving the financial and economic culture of residents of developing countries. IBRD employees conduct:
- handing out information brochures and so on.
- Attracting investments. Loan funds received from the bank can be used to improve infrastructure.
- Financing projects related to the development of the state. By resorting to the help of the IBRD, it is possible to replenish the state budget deficit. The government can use the money raised to improve the welfare of the poor.
- Loan with a guaranteed result. The bank issues this type of loan to those countries whose leaders give a guarantee that the goals will be achieved.
- Grants and trust funds (trust funds). IBRD specialists have developed this product for countries whose economic conditions have deteriorated significantly as a result of the global crisis. This type of loan is also issued by the governments of countries on whose territory natural disasters raged: floods, earthquakes, etc.
- Individual approach. The company can offer individual loan conditions based on the needs of a particular state.
For more details on loan products, please visit the Internet portal of MBRD Bank (official website http://www.vsemirnyjbank.org/ru ).
What the IBRD offers
Information and technical support
The Bank provides support to developing countries in a political and economic sense. The companys specialists analyze the current situation in the country, develop a development scheme and provide the government with instructions on the changes that should be made.
It should be noted that the bank has enough authority and knowledge to conduct activities in this area. IBRD employees have repeatedly implemented national-scale projects with a long-term perspective. These programs have been very effective and have contributed to the positive dynamics in the life of the Third World countries.
How will the specialists of the financial organization help?
- They will develop a draft law to reform the state system.
- A plan will be developed to restore the economy of a country that has suffered from the negative manifestations of the crisis that has swept the planet in recent years.
Provision of paid consultations
Clients of MBRD Bank can get advice on issues that are not in the list of the companys services. For example, employees of an international banking structure organize a conference or forum. This service is provided on a paid basis.
Conducting research on the economic situation and the state of all industries
It is impossible to develop a strategy for overcoming the financial crisis without analyzing the economic and social situation in the country. IBRD staff have good experience in this area of work. They will also help determine the level of development of the industry.
Statistical data are used for analysis. It is on their basis that the tactics of withdrawing a particular country from a difficult situation is being built. The bank will help to implement the developed projects and propose programs for the "growth" of the state for several decades to come.
Help from donor organizations
MBRD Bank can be called a link between the territories under development and the communities that provide the residents of these territories with financial and humanitarian support. Such organizations are called donors. The IBRDs job is to coordinate the work of donor companies. The Bank creates consulting communities, organizes meetings, during which the problems of the country requiring support are resolved.
Credit funds management
Competent state budget management and a stable economic situation are concepts that are inextricably linked. That is why the heads of developing countries often resort to the help of the IBRD Bank.
Having issued a loan to a particular state, the bank closely monitors the expenditure of finance. If it was noticed that the government cannot properly dispose of funds, the companys employees offer their services and develop effective tactics for spending the money that was received on the loan.
The administration of the company is sure that granting a loan is not enough. It is not enough to just allocate money. It is necessary to provide information support by teaching people, into whose hands material values fall, how to properly dispose of them. From this we can conclude that the IBRD, by lending money, controls their use. And the point is not at all the stinginess of the banks administration or the desire to insert "their 5 kopecks" into the political and economic life of the country. The bank wants to make sure that the loan funds will not go “to the left”, but will be used as intended.
This strategy gives an advantage to the country that received the loan. Members of the government will be able to keep track of how money is spent (a report is provided for each payment). The efficiency of state budget management is increasing. All this makes it possible to fight against criminal embezzlement of the treasury and exposes corruption schemes.
So, we have already made sure that the bank exercises control over spending operations. In terms of cooperation, it is said that the borrowing country must send money to achieve the goals specified in the Agreement.
Quite often, the bank invites the governments of states receiving financial assistance from the World Bank to make changes in the field of public procurement. The administration of the organization rightly believes that the "growth" of the country in all directions is possible only with the right approach to financial spending.
In early 2016, MBRD developed a new public procurement system. This scheme is focused primarily on the quality of the purchased product, and only then on its cost.
If you have any questions related to the provision of services by the bank, clients can contact the Call Center of the World Bank structure. Quite often, users who do not like the work of the companys employees complain to the bank administration.
An appeal can be made by one citizen or organization. Incognito complaints will not be considered. If the person filing the appeal wants to hide his name, then the commission will make concessions. An application is submitted in writing. In the “Addressee” column, the client enters: “World Bank”, “Customer Support Center” section. To send a petition, you can use:
- by e-mail;
- State Mail;
Contact information can be found on the World Bank website.
Building relations between countries
IBRD helps developing countries and in the establishment of economic, political and social relations between countries. Bank employees hold meetings, press conferences. Representatives from different countries participate in these events. These are people who work in various fields: businessmen, teachers, youth and student organizations, representatives of the highest echelons of power, etc. To work in this direction, the administration of MBRD Bank has created a special department called the Bureau of External Relations.
On Tuesdays and Thursdays, the departments employees hold various kinds of events, each time gathering more than two dozen people. Classes are devoted to the creation and expansion of the trans-state banking structure "World Bank". Participants of the seminars get to know the leaders of the company.
What can you learn about at these meetings? On the factors that negatively affect the development of this or that country, on the tools that can resolve these problems. The purpose of the classes is to eliminate economic illiteracy, teach business and financial management. Corporate owners, who are leaders in the global economy, often send their employees to such seminars.
A few words about performance
The IBRD helps many Third World countries by providing financial and technical support. It must be said that the companys activities are producing certain results. Changes in cultural and social life are noticeable in almost all countries that cooperated with the bank. Changes have also taken place in the life of people living in these countries.
The positive changes in infrastructure are especially noticeable: new educational institutions and hospitals have been opened, water supply networks have been repaired, the work of utilities has been adjusted, and motorways have been laid.