World Bank

IMF and World Bank: Differences
The World Bank and the IMF or International Monetary Fund are inter-governmental support institutions which work to improve the world financial order. The World Bank is a lending institution, whereas the IMF is a cooperative institution. To know about the major differences between the two institutions, read on...

History of The World Bank
The World Bank is a lending institution that funds essential infrastructural requirement, globally. Headquartered in Washington D.C., this fiscal institution is banked upon heavily by the governments of the world for timely dispensing of funds to support the development of major utilities and services. The current 'green' focus of the World Bank has taken the 1944 initiative to a new level...

World Bank Admits Most Health Aid Fails
Watchdog says performance in Africa "particularly weak", with only 27% of projects satisfactory

Mexico Granted $205m Swine Flu Loan From World Bank
Loan intended to help Mexico cope with outbreak's impact on the country's economy

US Surrenders Power to Appoint World Bank President
UK development secretary brokers deal to open position to candidates of any nationality

World Bank Warns on 'human Crisis' of High Food Prices
Robert Zoellick says 44 million of the world's poorest people will be driven into malnutrition this year

Israeli Restrictions Leave Palestinians Dependent on Aid, Says World Bank
The World Bank warned today that continued Israeli economic restrictions were severely limiting the potential of the Palestinian economy and leaving Palestinians more dependent on foreign aid than ever

World Bank's $1.2bn Fund to Feed the Poor
More than 100 million people ranked among the world's hungry and triggering riots in over thirty countries

World Bank: Rocketing Food Prices Have Put Fight Against Poverty Back 7 Years
Robert Zoellick says while consumers in rich countries worry about filling their cars, people in poor countries are 'struggling to fill their stomachs'

World Bank Urges Israel to Ease Palestinian Blockade
· Restrictions threaten efforts to boost economy· Blair confident $5.6bn donor target will be met

World Bank Accused of Razing Congo Forests
The World Bank encouraged foreign companies to destructively log the world's second largest forest, endangering the lives of thousands of Congolese Pygmies, according to a report on an internal investigation by senior bank staff and outside experts.

Zoellick Confirmed As World Bank Chief
The World Bank's governing board today rubber-stamped the appointment of Robert Zoellick as its next president, clearing the way for the US nominee to take up his post at the start of next week.

Washington Veteran Gets Nod for World Bank Post
In an attempt to mend bridges with the international community, the White House today nominated a respected veteran diplomat to replace Paul Wolfowitz as head of the World Bank.

White House Turns to Veteran Diplomat to Head World Bank
Robert Zoellick nominated as Wolfowitz successor - Choice of respected figure an attempt to mend fences

After Bitter Battle, Wolfowitz Resigns From World Bank
Departure ends crisis over partner's pay rise - Board accepts outgoing leader 'acted in good faith'

Wolfowitz to Resign As World Bank President
Paul Wolfowitz lost his ferocious battle to hang on to his job as president of the World Bank yesterday, forced to make his exit after a bitter international controversy.

Q&A: The World Bank
With the World Bank set to decide the fate of its embattled president, Paul Wolfowitz, Mark Tran explains how the organization works.

Checkpoints Hurt Israeli Security, Says World Bank
Restrictions 'devastating Palestinian economy' - Prosperity would benefit both sides, report claims

World Bank Criticises Israel Over Palestinian Economy
Report calls for easing of extensive restrictions on movement of Palestinians in West Bank and Gaza.

The World Bank Really Does Help the Planet's Poorest
Response: Yes, Paul Wolfowitz must go, but this great institution has much to be proud of, says Michael Carter.

Venezuela Quits Imf and World Bank
The Venezuelan president, Hugo Chavez, today severed relations with the World Bank and International Monetary Fund.

Wolfowitz Absent As World Bank Board Decides Fate
Paul Wolfowitz failed to appear at a high-profile World Bank meeting yesterday, sparking rumours that he was on the verge of quitting as president.

Wolfowitz's World Bank Deputy Tells Him to Quit
Paul Wolfowitz's tenure as president of the World Bank may be decided today by the bank's governing board, after he was abandoned by the Bush administration and faced a revolt led by his own deputy.

World Bank 'in Crisis' Over Wolfowitz
The World Bank's future is in "crisis" over the pay scandal involving Paul Wolfowitz and his girlfriend, according to an influential European minister, as the embattled bank president accused critics of spreading "misleading information".

Leak Prompts Fear Over World Bank Health Policies
Madagascan contraception targets deleted, critics say - Managing director said to have links to Opus Dei

World Bank Reveals Details of Wolfowitz Role in Pay Rise Row
I was victim in conflict of interest, says his partner - Bush renews backing as pressure mounts to resign

World Bank Board Takes Serious Line Over Wolfowitz Scandal
Paul Wolfowitz's tenure as president of the World Bank was today increasingly under threat, after the bank's powerful governing body indicated that he broke their ethical guidelines in awarding pay increases to his partner.

World Bank Reveals Details of Wolfowitz Role in Job Scandal
Organisation's ethics committee not consulted - Leader's survival hinges on retaining Bush support

World Bank Board Debates Wolfowitz's Fate
Paul Wolfowitz's position as head of the World Bank looked increasingly untenable today after he was forced to retreat from a meeting after being booed by his employees and the bank's governing board met overnight to decide his fate.

Wolfowitz Says Sorry for World Bank Pay Row
Bank's president in apology for his handling of a promotion and pay increase for his partner, who also worked there.

Brown Calls for Overhaul of Un, World Bank and Imf
Urgent and far-reaching reform of the United Nations, the International Monetary Fund, the World Bank and the G7 is needed to make old-fashioned international institutions fit to cope with the "seismic shifts" of globalisation, Gordon Brown said today.

World Bank Praised for Accountability
The World Bank, regularly criticised for being unaccountable, is one of the world's most transparent institutions, a report said today.

China Must Be Consumer Society, Says World Bank
China must make greater efforts to encourage consumer spending in the hope of reining back its surging trade surplus before it creates dire consequences for the local environment, the World Bank said yesterday.

Aid Agency Backs World Bank's Stand on Corruption
An Irish aid agency has joined forces with World Bank president Paul Wolfowitz against corruption in the developing world.

NGOs Boycott World Bank Meetings
More than 80 non-governmental organisations announced they were boycotting the IMF and World Bank annual meetings that began today in Singapore, in protest at the host government banning at least 27 accredited activists and many others from entering the country.

World Bank Accused of Deception Over Malaria Funding
· Campaign leader is unfit for task, say doctors · Death toll prevention claims 'unfounded'

Benn Calls for Reform of World Bank and Imf
The international development secretary, Hilary Benn, has called on Europe and the United States to relinquish their hold on the presidencies of the World Bank and International Monetary Fund.

Kenya Gets $25m Loan From World Bank Despite Corruption Row
The World Bank yesterday approved a $25m loan to Kenya - earmarked for fighting corruption - despite an outcry over allegations that senior ministers had plotted to steal millions of dollars from the treasury.

Benefits Of Free Trade Lower Than Earlier Estimate Says World Bank
The bank's most recent estimate compiled last month now shows a gain of 290 billion dollars from a move to "free trade," compared with a 2003 report than showed a benefit of 500 billion dollars.

World Bank Rebuked Over Water Deal
The World Bank came under fire yesterday after it was revealed that Indian civil servants were repeatedly overruled by bank officials in their choice of consultants for a multi-million dollar contract to plan the privatisation of Delhi's water supply.

Why Wolfowitz is Right for the World Bank
George Monbiot: Liberal handwringing over the World Bank simply reflects a failure to recognise the role it exists to fulfil.

Wolfowitz Confirmed As Next World Bank President
The board of the World Bank today approved the controversial nomination of Paul Wolfowitz, Donald Rumsfeld's deputy at the Pentagon, as its new president.

Wolfowitz Charms Himself Into World Bank Job
Paul Wolfowitz yesterday wooed and won over sceptical European ministers with a pledge to fight global poverty, ensuring his selection later today as the next World Bank president.

EU Backs Wolfowitz As World Bank Chief
The EU gave the nod today to the contentious appointment of Paul Wolfowitz, the US deputy defence secretary, to head the World Bank.

Mammon: James Wolfensohn, Outgoing President of the World Bank
In the week of the controversial nomination of Paul Wolfowitz as president of the World Bank, Nick Mathiason talks exclusively to outgoing boss James Wolfensohn and, below, looks at what a neo-con regime will mean for Africa.

Don't Deposit Wolfowitz With Us, Plead World Bank Workers
Washington's nomination of Paul Wolfowitz as the World Bank's next president has triggered an outcry among the bank's staff, who have demanded the right to have a say in his confirmation, it emerged yesterday.

Bush Nominates Wolfowitz for World Bank
President George Bush yesterday chose one of the most controversial figures in his administration, the Pentagon's chief ideological proponent of the Iraq war Paul Wolfowitz, to head the World Bank.

Bono's Next No 1 May Be at World Bank
Bono, the Irish rock singer, has many qualifications to be the next president of the World Bank. The Bush administration is not ruling him out.

World Bank Consults on Big Laos Dam Project
The World Bank launched an unprecedented exercise in public consultation yesterday on whether it should back a project to build a dam in Laos on a tributary of the Mekong river. More than 200 officials from the Lao and Thai governments, businessmen, environmentalists and academics began...

World Bank Rebuked for Fossil Fuel Strategy
The World Bank's drive to promote fossil fuel-generated power for 1.6 billion people lacking electricity will drive developing countries deeper into debt, a report by a development thinktank claims today. Fossil fuels, such as oil, gas and coal, will never provide enough power for...

World Bank Condemns Defence Spending
The president of the World Bank condemned the amount developed countries spend on defence yesterday, saying it was "madness" compared with the sums committed to aid projects. James Wolfensohn told an audience in Australia: "We are spending 20 times the amount on military expenditure than...

World Bank to Back Controversial Caspian Pipeline
A controversial scheme led by the oil giant BP to build a huge, strategically important pipeline is about to win crucial backing, according to a leaked document. Despite widespread criticism, the World Bank is due to approve at a meeting tomorrow a $250m (£149m) loan to a consortium...

World Bank Poverty Drive a Failure, Says Report
World Bank projects aimed at cutting malnutrition among children in developing countries have completely failed to make a difference, according to a report published today.

Short fears World Bank and IMF will be frozen out of Iraq role
Britain is warning America that a go-it-alone approach to reconstructing post-war Iraq risks spreading the diplomatic paralysis at the United Nations to the World Bank and International Monetary Fund when the international community gathers this weekend for its first significant meeting since the war began.

Risk of Recession, Says World Bank As Recovery Falters
There is a "significant risk" the global economy will slide into recession in the coming months, jeopardising attempts to relieve poverty in the developing world.

World Bank and Imf Reform Vital to End Poverty, Says Un
Global progress on reducing poverty has slowed to a "snail's pace" and the international goal of halving the share of the world's population living on less than $1 (63p) a day by 2015 is likely to be missed, the United Nations will warn today. In its annual survey, which has become the...

Ministers Avert World Bank Crisis
Gordon Brown and Clare Short claimed last night to have safeguarded the future funding of the World Bank after heading off an American plan to convert half the soft loans to poor countries from the international development lender into grants.

Short blocks US plan for World Bank grants
A plan to boost World Bank aid to the developing world has been delayed by a disagreements between the US and some European countries, led by Britain, over Washington's wish to give half the money in grants rather than long-term loans. The US treasury secretary, Paul O'Neill, argues that...