The International Bank for Reconstruction and Development - BIRD, also called the World Bank, is headquartered in the American city of Washington, its creation was initially intended to help rebuild economies devastated in World War II World.
Currently, for the maintenance of the bank, about 150 countries contribute with financial resources, as the grouping these results in an amount that is later used to finance reconstruction and infrastructure. Decisions are taken through votes that are defined according to the volume of collaboration and contribution to the bank, coming from each country. The United States has the power of veto over all decisions taken within the institution, as this is the largest shareholder.
The World Bank is a huge financial institution that makes loans to governments to carry out infrastructure, transport, power plants hydroelectric power plants, sanitation, among others, in addition to contributions to programs for economic, industrial and agricultural development, social measures and environmental issues.
Not only governments can have access to financing, but also large corporations that can prove their ability to guarantee the debt payment and presentation of previous projects that are economically viable, with government approval local.
The financial institution in question, in addition to granting loans to governments and large business groups, carries out technical advisory work to the group of member countries.
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Eduardo de Freitas
Graduated in Geography
Brazil School Team
General geography - geography - Brazil School
Would you like to reference this text in a school or academic work? Look:
FREITAS, Eduardo de. "World Bank"; Brazil School. Available in: https://brasilescola.uol.com.br/geografia/banco-mundial-world-bank.htm. Accessed on June 27, 2021.