(a)each member shall have two hundred fifty votes plus one additional vote for each part of its quota equivalent to one hundred thousand special drawing rights (b)Whenever voting is required under Article V,Section 4 or 5,each member shall have the number of votes to which it is entitled under (a)above adiusted Gi)by the addition of one vote for the equivalent of each four hundred thousand cadrawing rights of net sales of its cuncyfrom the gener date when the vote is taken,o (ii)by the subtraction of one vote for the equivalent of each four hundred thousand special drawing rights of its net purchases under Article V.Section 3(6)and (f up to the date when the vote is taken provided that neither netpurchases nor net sales shall be deemed at any time ed an a Unt equal to the quota of th d (，Except as otherwis especifically provided the Fund shall be made by a majority of the votes cast 2.2 World Bank Group (WBG) President:James D.Wolfensohr Compose d of five organiz ations:IBRD,IDA.IFC,MIGA and ICSID Headquarters:Washington,DC more than 100 country offices Mission:Our dream is a world free of poverty. Established:July 1.1944 by a conference of 44 govemments in Bretton Woods New Hampshire ership 184 coun ries Staff:Around 9,300 employees in Washington and the country offices The World Bank Group's mission is to fight poverty and improve the living andards of people in the developing world.is a deve advice teicassistancnd kdrin ome countries to reduce poverty.The Bank promotes growth to create jobs and to empower poor people to take advantage of these opportunities Conceived during World War ll at Bretton Woods,New Hampshire,the World Bank initially helped rebuild europe after the war its first loan of s250 million was to France in 1947 for pos reconstruction.Reconstruction has remained an important focus of the Bank's work,given the natural disasters humanitarian emergencies,and postconflict rehabilitation needs that affect developing and transition economies. Today's Bank,however,has sharpened its focus on poverty reduction as the nog eous staff of engineers and financial analysts,based solely in Washington, .To day,it has a multidisciplinary and diverse staff including economists,public policy experts, 11
11 (a) Each member shall have two hundred fifty votes plus one additional vote for each part of its quota equivalent to one hundred thousand special drawing rights. (b) Whenever voting is required under Article V, Section 4 or 5, each member shall have the number of votes to which it is entitled under (a) above adjusted (i)by the addition of one vote for the equivalent of each four hundred thousand special drawing rights of net sales of its currency from the general resources of the Fund up to the date when the vote is taken, or (ii)by the subtraction of one vote for the equivalent of each four hundred thousand special drawing rights of its net purchases under Article V, Section 3(b) and (f) up to the date when the vote is taken, provided that neither net purchases nor net sales shall be deemed at any time to exceed an amount equal to the quota of the member involved. (c) Except as otherwise specifically provided, all decisions of the Fund shall be made by a majority of the votes cast. 2.2 World Bank Group (WBG) President: James D. Wolfensohn Composed of five organizations: IBRD, IDA, IFC, MIGA and ICSID Headquarters: Washington, DC & more than 100 country offices Mission: Our dream is a world free of poverty . Established: July 1, 1944 by a conference of 44 governments in Bretton Woods, New Hampshire Membership: 184 countries Staff: Around 9,300 employees in Washington and the country offices The World Bank Group’s mission is to fight poverty and improve the living standards of people in the developing world. It is a development Bank which provides loans, policy advice, technical assistance and knowledge sharing services to low and middle income countries to reduce poverty. The Bank promotes growth to create jobs and to empower poor people to take advantage of these opportunities Conceived during World War II at Bretton Woods, New Hampshire, the World Bank initially helped rebuild Europe after the war. Its first loan of $250 million was to France in 1947 for post-war reconstruction. Reconstruction has remained an important focus of the Bank's work, given the natural disasters, humanitarian emergencies, and postconflict rehabilitation needs that affect developing and transition economies. Today's Bank, however, has sharpened its focus on poverty reduction as the overarching goal of all its work. It once had a homogeneous staff of engineers and financial analysts, based solely in Washington, D.C. Today, it has a multidisciplinary and diverse staff including economists, public policy experts
sectoral experts,and social scientists.40 percent of staff are now based in country offices 2.2.1 World Bank Mission Statement of world bank To fight poverty with passion and professionalism for lasting results. To help people help themselves and their environment by providing resources, sharing knowledge,building capacity,and forging partnerships in the public and private sectors To be an excellent institution able to attract,excite,and nurture diverse and committed staff with exceptional skills who know how to listen and leam. Status of the Bank The Bank shall possess full juridical personality,and,in particular,the capacity (i)to contract; (ii)to acquire and dispose of immovable and movable property; (iii)to institute legal proceedings The purposes of the Bank are: capital for productive purposes,including the restoration of economies destroved or disrupted by war.the reconversion of productive facilities to peacetime needs and the encouragement of the development of productive facilities and resources in less developed countries Too omote private foreign investment by means of guarantees or participations in lo ans and other investments ma by priva ate inv ors;and when private capital is not available on reasonable terms.to supplement private investment by providing.on suitable conditions,finance for productive purposes out of its own capital,funds raised by it and its other resources. (ii)To promote the long-range balanced growth of intemational trade and the aintenanc e of equilibri ances of payn nts by raging intemational investment for the development of the productive resources of members,thereby assisting in raising productivity,the standard of living and conditions of labor in their territories. (iv)to arrange the loans made or quaranteed by it in relation to intemational oans through other channels so that the nore useful and urgent projects. rge and sma alike,will be dealt with firs (v)To conductits operations with due regard to the effect of intemational 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 a peacetime economy. The Bank all be guided in al decisions by the purposes set forth above Membership
12 sectoral experts, and social scientists. 40 percent of staff are now based in country offices. 2.2.1 World Bank Mission Statement of world bank To fight poverty with passion and professionalism for lasting results. To help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forging partnerships in the public and private sectors. To be an excellent institution able to attract, excite, and nurture diverse and committed staff with exceptional skills who know how to listen and learn. Status of the Bank The Bank shall possess full juridical personality, and, in particular, the capacity: (i) to contract; (ii) to acquire and dispose of immovable and movable property; (iii) to institute legal proceedings The purposes of the Bank are: (i) To assist in the reconstruction and development of territories of members by facilitating the investment of capital for productive purposes, including the restoration of economies destroyed or disrupted by war, the reconversion of productive facilities to peacetime needs and the encouragement of the development of productive facilities and resources in less developed countries. (ii) To promote private foreign investment by means of guarantees or participations in loans and other investments made by private investors; and when private capital is not available on reasonable terms, to supplement private investment by providing, on suitable conditions, finance for productive purposes out of its own capital, funds raised by it and its other resources. (iii) 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 labor in their territories. (iv) 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. (v) 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 a peacetime economy. The Bank shall be guided in all its decisions by the purposes set forth above. Membership
(a)the original members of the bank shall be those members of the ept membership in the Bank before the at sed in n 2(e). (b)Membership shall be open to other members of the Fund,at such times and in accordance with such terms as may be prescribed by the Bank. Structure of the Bank The Bank shall have a Board of Governors,Executive Directors,a President and cers and staff to perform such duties as the Bank may determine Board of Governors All the powers of the bank shall be vested in the board of govemors consisting of one governor and one altemate appointed by each member in such mann er as me.Each gove mnor and e ate shall serve for five years ubject to the ple e of the mem appointing h im,and may be reappointed.No alternate may vote except in the absence of his orincipal.The Board shall selectone of the Govemor-s as chairman Executive Directors The Executive Dire tors shall be sponsible for the conduct of the Bank,and for thi e general erations of the B purpose,shal exercise e all the powers delegated to them by the Board of Govemors President and Staft (a)The Executive Directors shall select a Presidentwho shall notbe a ovemnor or an executive director or an altemate for either.The President shall nairman of the Ex utive Dir s,but shall hav no vote except a deciding vote in case of an equal division.He may participate in meetings of the Board of Govemors,but shall not vote at such meetings.The President shall cease to hold office when the Executive Directors so decide. (b)the presidentshall be chief of the operating staff of the bank and shall conduct under the direction of the Executive Directors.the ordinary business of the Bank.Subject to the general control of the Executive Dir rs,he shal be responsible for the organization,appointment and dismissal of the officers and staff. (c)The President officers and staff of the Bank in the discharge of their offices,owe their duty entirely to the Bank and to no other authority.Each ember of the Bankshall respect the intemational character of this duty and shall refrain from all attempts to influence any of them in the discharge of their duties. (d)In appointing the officers and staff the President shall,subject to the paramount importance of securing the highest standards of efficiency and of technical co e,pay duer rd to the impo rtance of recruiting rsonnel on as wide a geographical basis as possibl Voting (a)Each member shall have two hundred fifty votes plus one additional vote for each share of stock held. 13
13 (a) The original members of the Bank shall be those members of the International Monetary Fund which accept membership in the Bank before the date specified in Article XI, Section 2 (e). (b) Membership shall be open to other members of the Fund, at such times and in accordance with such terms as may be prescribed by the Bank. Structure of the Bank The Bank shall have a Board of Governors, Executive Directors, a President and such other officers and staff to perform such duties as the Bank may determine. Board of Governors All the powers of the Bank shall be vested in the Board of Governors consisting of one governor and one alternate appointed by each member in such manner as it may determine. Each governor and each alternate shall serve for five years, subject to the pleasure of the member appointing him, and may be reappointed. No alternate may vote except in the absence of his principal. The Board shall select one of the Governor-s as chairman. Executive Directors The Executive Directors shall be responsible for the conduct of the general operations of the Bank, and for this purpose, shall exercise all the powers delegated to them by the Board of Governors. President and Staff (a) The Executive Directors shall select a President who shall not be a governor or an executive director or an alternate for either. The President shall be Chairman of the Executive Directors, but shall have no vote except a deciding vote in case of an equal division. He may participate in meetings of the Board of Governors, but shall not vote at such meetings. The President shall cease to hold office when the Executive Directors so decide. (b) The President shall be chief of the operating staff of the Bank and shall conduct, under the direction of the Executive Directors, the ordinary business of the Bank. Subject to the general control of the Executive Directors, he shall be responsible for the organization, appointment and dismissal of the officers and staff. (c) The President, officers and staff of the Bank, in the discharge of their offices, owe their duty entirely to the Bank and to no other authority. Each member of the Bank shall respect the international character of this duty and shall refrain from all attempts to influence any of them in the discharge of their duties. (d) In appointing the officers and staff the President shall, subject to the paramount importance of securing the highest standards of efficiency and of technical competence, pay due regard to the importance of recruiting personnel on as wide a geographical basis as possible. Voting (a) Each member shall have two hundred fifty votes plus one additional vote for each share of stock held
(b)Except as otherwise specifically provided,all matters before the Bank shall decided by a majority of the vote s cast Relationship to Other Intemational Organizations (a)The Bank,within the terms of this Agreement,shall cooperate with any general international organization and with public intemnational organizations havina specialized responsibilities in related fields any arrangements for such cooperation which would involve a modification of a vision of this nt may be effected only after amendment to this Agreementunder Article VIII. (b)In making decisions on applications forloans or guarantees relating to matters directly within the competence of any international organization of the members of the Bank,the Bank shall give consideration to the views an recommendations of such organization. 2.2.2 International Development Association The World's fund to help the Poorest People IDA's Mission The International DevelopmentAssociation(IDA)is the part of the World Bank that helps the earth's poorest countries reduce poverty by providing interest-free loans and arants for proarams aimed at boosting economic Development Go They must,for examp respond to the competitive pressures as well as the opportunities of globalization:arrest the spread of HIV/AIDS;and prevent conflict or deal with its aftermath IDA's long-term,no-interest loans pay for programs that build the policies. institutions.infrastructure and human capital needed for equitable and ustainable de opment.IDA's goal is to reduce equalities hacross and within countries by allowing more people t panicipate mainstream economy,reducing poverty and promoting more equal access to the opportunities created by economic growth. IDA's Historv nal Bank for Reconstruction and Development(IBRD),better known as the World Bank,was established in 1944 to help Europe recove from the devastation of World War ll.The success of that enterprise led the Bank,within a few years,to tum its attention to the developing countries.By the 1950s.it became clear that the poorest developina countries needed softer terms than those that could be offered by the bank so they could afford to w the ey n With the United States taking the initiative,a group of the Bank's member countries decided to set up an agency that could lend to the poorest countries on the most favourable terms possible.They called the agency the "Intemational Development Association."Its founders saw IDA as a way for the
14 (b) Except as otherwise specifically provided, all matters before the Bank shall be decided by a majority of the votes cast. Relationship to Other International Organizations (a) The Bank, within the terms of this Agreement, shall cooperate with any general international organization and with public international organizations having specialized responsibilities in related fields. Any arrangements for such cooperation which would involve a modification of any provision of this Agreement may be effected only after amendment to this Agreement under Article VIII. (b) In making decisions on applications for loans or guarantees relating to matters directly within the competence of any international organization of the types specified in the preceding paragraph and participated in primarily by members of the Bank, the Bank shall give consideration to the views and recommendations of such organization. 2.2.2 International Development Association The World's Fund to Help the Poorest People IDA’s Mission The International Development Association (IDA) is the part of the World Bank that helps the earth’s poorest countries reduce poverty by providing interest-free loans and grants for programs aimed at boosting economic growth and improving living conditions. IDA funds help these countries deal with the complex challenges they face in striving to meet the Millennium Development Goals. They must, for example, respond to the competitive pressures as well as the opportunities of globalization; arrest the spread of HIV/AIDS; and prevent conflict or deal with its aftermath. IDA’s long-term, no-interest loans pay for programs that build the policies, institutions, infrastructure and human capital needed for equitable and environmentally sustainable development. IDA’s goal is to reduce inequalities both across and within countries by allowing more people to participate in the mainstream economy, reducing poverty and promoting more equal access to the opportunities created by economic growth. IDA’s History The International Bank for Reconstruction and Development (IBRD), better known as the World Bank, was established in 1944 to help Europe recover from the devastation of World War II. The success of that enterprise led the Bank, within a few years, to turn its attention to the developing countries. By the 1950s, it became clear that the poorest developing countries needed softer terms than those that could be offered by the Bank, so they could afford to borrow the capital they needed to grow. With the United States taking the initiative, a group of the Bank’s member countries decided to set up an agency that could lend to the poorest countries on the most favourable terms possible. They called the agency the "International Development Association." Its founders saw IDA as a way for the
"haves"of the world to help the "have-nots."But they also wanted IDA to be run with the discipline of a bank.For this reason, dent Dwight D. Eise er propose ed.and other countries agreed,that IDA sho ad be part of the World Bank(IBRD). IDA's Articles of Agreement became effective in 1960.The first IDA loans known as credits.were approved in 1961 to chile.Honduras.India and Sudan IBRD and IDA are run on the same lines.They share the same staff and headq me pres d evalu 0 with the same ngorous sta and IBRD draw on differentres urces for their lending,and because IDA's loans are deeply concessional,IDA's resources must be periodically replenished(see"IDA Funding"below).A country must be a member of IBRD before it can join IDA;164 countries are PURPO The purposes of the Association are to promote economic development, increase productivity and thus raise standards of living in the less-developed areas of the world included within the Association's membership.in particular by providing financeto t thei mportant de ntal re nts on terms which are more xible ar nd be r less heavily on the bala ce of payments than those of conventional loans,thereby furthenng the developmental objectives of the International Bank for Reconstruction and Development(hereinafter called"the Bank")and supplementing its activities. IDA's Borrowers IDA lends to those countries thathad an income in 2002 of less than $865 per person and lack the financial ability to borrow from IBRD.Some"blend borrower"countries like India and Indonesia are eligible for IDA loans because of their low per person incomes but are also eligible for IBRD loans because they are financially creditworthy.Eighty-one countries are currently eligible to bo row from IDA.Together these countries are home to 2.5 billion people,half of the total population of the developing world.Most of these people,ar estimated 1.5 billion.survive on incomes of $2 or less a day. Membership (a)The original members of the association shall be those members of the Bank listed in Schedule A hereto which,on or before the date specified in Article XI.Section 2(c) accept m embership in the Associatior (b)Membership shall be open to other members of the Bank at such times and In accordance with such terms as the Assoclation mav determine. Structure of the Association The Association shall have a Board of Govemors,Executive Directors,a Presidentand such other officers and staff to perform s such dutie s ast Association may determine Voting (a)Each original member shall,in respect of its initial subscription,have 500 votes plus one additional vote for each $5,000 of its initial subscription. 15
15 "haves" of the world to help the "have-nots." But they also wanted IDA to be run with the discipline of a bank. For this reason, US President Dwight D. Eisenhower proposed, and other countries agreed, that IDA should be part of the World Bank (IBRD). IDA's Articles of Agreement became effective in 1960. The first IDA loans, known as credits, were approved in 1961 to Chile, Honduras, India and Sudan. IBRD and IDA are run on the same lines. They share the same staff and headquarters, report to the same president and evaluate projects with the same rigorous standards. But IDA and IBRD draw on different resources for their lending, and because IDA’s loans are deeply concessional, IDA’s resources must be periodically replenished (see "IDA Funding" below). A country must be a member of IBRD before it can join IDA; 164 countries are IDA members. PURPOSES The purposes of the Association are to promote economic development, increase productivity and thus raise standards of living in the less-developed areas of the world included within the Association's membership, in particular by providing finance to meet their important developmental requirements on terms which are more flexible and bear less heavily on the balance of payments than those of conventional loans, thereby furthering the developmental objectives of the International Bank for Reconstruction and Development (hereinafter called "the Bank") and supplementing its activities. IDA's Borrowers IDA lends to those countries that had an income in 2002 of less than $865 per person and lack the financial ability to borrow from IBRD. Some "blend borrower" countries like India and Indonesia are eligible for IDA loans because of their low per person incomes but are also eligible for IBRD loans because they are financially creditworthy. Eighty-one countries are currently eligible to borrow from IDA. Together these countries are home to 2.5 billion people, half of the total population of the developing world. Most of these people, an estimated 1.5 billion, survive on incomes of $2 or less a day. Membership (a) The original members of the Association shall be those members of the Bank listed in Schedule A hereto which, on or before the date specified in Article XI. Section 2 (c), accept membership in the Association. (b) Membership shall be open to other members of the Bank at such times and in accordance with such terms as the Association may determine. Structure of the Association The Association shall have a Board of Governors, Executive Directors, a President and such other officers and staff to perform such duties as the Association may determine. Voting (a) Each original member shall, in respect of its initial subscription, have 500 votes plus one additional vote for each $5,000 of its initial subscription