- Gentlemen, start your drones: Judge’s ruling opens door for commercial use
- Soldier who hid, bragged about not saluting flag to be punished — in secret
- ‘Maverick’ of the seas: ‘Top Gun’ school for U.S. ship officers to launch
- Putin declares Sochi Paralympics open amid Ukrainian protest
- ‘In Jesus name, we pray’ sparks ire at Ohio council meeting
- Navy’s first laser weapon ready for prime time; drone killer to deploy this summer
- Billionaire backer: Rick Santorum ‘needs to be heard’ in 2016
- Obamacare fallout: 49 percent pessimistic; 45 percent ‘scared’
- DHS accused of holding U.S. citizen at airport, using emails to pry into her sex life
- Seattle socialist: Minimum-wage discussion skewed by ‘right-wing’ GAO analysis
Taxpayers must pay the freight for over-budget train projects
Topic - World Bank Group
The World Bank Group (WBG) is a family of five international organizations that makes leveraged loans, generally to poor countries. The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944). It also provided the foundation of the Osiander-Committee in 1951, responsible for the preparation and evaluation of the World Development Report. Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 ($250M to France for postwar reconstruction, in real terms the largest loan issued by the Bank to date). Its five agencies are:* International Bank for Reconstruction and Development (IBRD)* International Development Association (IDA)* International Finance Corporation (IFC)* Multilateral Investment Guarantee Agency (MIGA)* International Centre for Settlement of Investment Disputes (ICSID) - Source: Wikipedia
Given The Washington Times' attention to poverty and development issues, we were surprised to read the editorial "Rearranging the World Bank" (Oct. 14). Owned by 188 member countries, the World Bank works to end poverty and boost prosperity in poor countries with targeted projects in education, health, infrastructure and agriculture, among other areas. We push for economic reforms, open markets, streamlined regulations, good governance and anti-corruption measures. Our efforts to improve conditions in fragile and conflict-affected countries contribute to global, regional and by extension, U.S. security.
In a story March 10 about Sierra Leone charging 29 people with fraud, The Associated Press erroneously identified the Global Alliance for Vaccines and Immunization as the Bill and Melinda Gates Foundation's vaccine program. The Global Alliance for Vaccines and Immunization, or GAVI, is a recipient of Gates Foundation money, but it also receives funds from other sources including the World Health Organization, UNICEF and the World Bank.
The World Bank announced Wednesday it is prepared to resume assistance to Myanmar after 25 years, saying it is ready to provide $85 million in grants for development while also helping to clear almost $400 million in arrears from old loans.
Approval by an arm of the World Bank for a $26 million loan to build a luxury hotel in Ghana — a West African nation where 40 percent of the people live in poverty — was "not an appropriate use of public funds" and should not have received U.S. government support, the chairman of a Senate subcommittee that oversees the bank says.
One of the world's richest men and a member of the Saudi royal family has received approval for a $26 million loan from a branch of the World Bank to build a luxury hotel in Ghana, a West African nation with a developing economy but where 40 percent of the people live in poverty.
Skyrocketing global food prices have pulled more than 40 million people into "extreme poverty" and have almost reached the levels of June 2008, when the world was rocked by food riots.