) an influential financial institution is The World Bank(World Bank). What is it like, who manages it, which countries does it provide financial assistance to and on what terms, and what does the World Bank do in Russia?
History of the World Bank
An organization with the name International Bank for Reconstruction and Development (IBRD), just like the IMF, was founded by decision of the Bretton Woods Conference on discussing financial and monetary relations after World War II and held in July 1944 in the United States.
Formally established on December 27, 1945, the IBRD made its first $250 million loan only under a second president named John McCloy, who served from March 17, 1947 to July 1, 1949. The borrower was France, and prerequisite lending - the non-participation of the Communists in the coalition government of the country. In the future, the World Bank actively financed Japan and the countries Western Europe who restored the economy after the war as part of the Marshall Plan. Over time, the World Bank Group was formed from several organizations solving various problems. All organizations are headquartered in Washington DC.
Further milestones in history:
1960 - Establishment of the International Development Association;
1968-1980 - increase in the volume and expansion of the structure of loans to developing countries;
1980-1989 - lending to the economies of the third world, aimed at their development, with a reduction in loans for government social spending;
Since 1989 - further expansion of the range of loans for a variety of purposes
In 2007, the World Bank provided $23.6 billion in loans and credits to developing countries.
Structure of the World Bank
World Bank Group
The World Bank Group currently consists of 5 structures:
International Bank for Reconstruction and Development (IBRD) - provides financing in the form of loans from middle-income countries and creditworthy member states;
International Development Association (IDA) - gives grants and interest-free loans to the governments of the poorest countries;
International Finance Corporation (IFC) - lends exclusively to private companies;
Multilateral Investment Guarantee Agency (MIGA) - attracts foreign direct investment in developing countries by providing guarantees to investors and creditors that serve as insurance against political risks;
International Center for the Settlement of Investment Disputes (ICSID) - deals with the resolution of disputes related to foreign investment
At the same time, the term "World Bank" refers only to its constituent IBRD and IDA, while the term "World Bank Group" refers to all five organizations.
The supreme governing body is the Board of Governors, which meets once a year as part of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank. The Board of Governors is composed of one representative each from 189 participating countries. The number of votes of each of them depends on the share in the capital of the bank. The following hierarchical structure is the Coordinating Committee:
The current activities are managed by the Board of Directors located at the headquarters, 20 of whose members represent groups of member countries, 5 are the largest shareholders:
1. USA (16.4% of shares);
2. Japan (7.9% of shares);
3. Germany (4.5% of shares);
4. Great Britain (4.3% of shares);
5. France (4.3% stake)
The president chairs the meetings of the Board of Directors and heads the general management of the bank, who is elected for a 5-year term by the Board of Governors. Since 2012, the presidency has been occupied by Jim Yong Kim, re-elected in 2017 - like all predecessors, a US citizen. The total number of employees of the World Bank is almost 12,000 people, about 60% work in the USA.
Organization membership
The condition for membership in the IBRD is the membership of the participating country in the IMF. In turn, to become a member of any other organization of the World Bank Group, the country must first enter the IBRD.
Members International Bank reconstruction and development for today are 189 states, the International Development Association - 173.
Goals and Functions of the World Bank
The main directions of the World Bank:
Financing of state programs for development and reconstruction;
Help the poorest countries, the fight against hunger and poverty;
Encouraging and supporting global partnerships;
Mat. promotion of sustainable development environment;
Improving maternal and child health, fighting HIV / AIDS and mass infectious diseases
IBRD and IDA finance projects in a wide variety of areas in the form of:
Low interest loans;
Long-term interest-free loans;
grants
The bank's funds consist of capital accumulated over many years and replenished by contributions from member countries, as well as proceeds from the sale of bank bonds.
Last year, 2017, according to annual accounts Bank, IBRD provided $17,861 million, and IDA - $12,668 million. As for the regions, funds were distributed fairly evenly: 23% of funds were sent to Africa (although $6,623 million was allocated from IDA, and only 427 from IBRD), in South Asia - 18%, East Asia and the Pacific - 17%. In 2017 fiscal year IBRD has raised the equivalent of $56 billion by issuing bonds in 24 currencies. According to Standard & Poor's, bonds have the highest reliability rating. Therefore, such bonds are suitable not only for corporations, but also for traditionally cautious insurance companies and pension funds.
At the same time, IDA is financed to a large extent by contributions from partner countries from among developed countries and middle-income countries. In addition, part of the money comes from the income of the IBRD. Since 2016, IDA has had the highest credit rating.
In addition to funding public and private sector projects, the organization provides advisory and analytical services to developing countries. The official website of the bank worldbank.org publishes data from the World Bank on the state of the economy, education, healthcare and other aspects of the development of the participating countries.
World Bank in Russia
Russia joined four of the five structures of the World Bank Group in 1992. The share of the Russian Federation in the capital of the IBRD today is 2.98%. The head of the Ministry of Economic Development Maxim Oreshkin represents the country in the Board of Governors of the World Bank.
In July 2014, due to sanctions imposed on Russia, the country's receipt of new funding was suspended. However, the Program of State External Borrowings of the Russian Federation in the World Bank and at the moment consists of 16 projects for a total of $2 billion.
In addition, according to the Russian Foreign Ministry, the World Bank in Russia has a portfolio of 6 projects for a total of $435 million in loans.
Criticism of the World Bank
The World Bank is often accused of doing the same as the International Monetary Fund - lending developing countries with the imposition of certain restrictions on them and the requirement for reforms that drive states into credit bondage.
One of the World Bank's VIP critics, Nobel laureate economist Joseph Stiglitz, who at one time worked in the organization as the chief economist and knows it from the inside, proves that IBRD programs do not ensure sustainable development of the economies of third world countries. The expert notes that while Russia followed the recommendations of the World Bank, the real incomes of citizens in the country fell, and China, ignoring the opinion of the United States, meanwhile achieved economic growth.
The World Bank Group is a multilateral development institution comprised of five member-led institutions with the common goal of: ending extreme poverty by reducing the proportion of the world's population living in extreme poverty to 3 percent by 2030; and to ensure prosperity for all by raising the incomes of the poorest 40 percent of the population in every country. The World Bank Group is the largest source of financial and technical assistance to developing countries around the world.
The World Bank (along with the International Monetary Fund (IMF)) was founded as a result of the Bretton Woods Conference in 1944. The headquarters is located in Washington ( federal district Colombia). The organization has more than 120 offices around the world, employing more than 10,000 people.
- The Governor from the Russian Federation in the organizations of the World Bank Group (IBRD, IFC, IDA and MIGA) is the Minister of Finance Russian Federation– A.G. Siluanov
- Deputy Governor from Russia in the WB - Minister of Economic Development of the Russian Federation - M.S. Oreshkin
- Executive Director from Russia - A.S. Lushin
Cooperation between the Bank of Russia and the World Bank Group
The interaction of the Bank of Russia with the World Bank Group is focused primarily on attracting the expertise of the World Bank in the process of improving financial regulation and the introduction of the best world experience and practice, mainly through participation in the implementation of assessment activities carried out by the World Bank jointly with the IMF under the Financial Sector Assessment Program (FSAP), as well as in the course of joint projects.
The Bank of Russia, together with the World Bank Group, has recently implemented or is currently implementing the following projects:
- Modernization and implementation of the accumulative pension system.
- Development of a financial inclusion strategy.
- Indicators of the level of development of the financial sector.
The leadership of the Bank of Russia takes part in sessions and annual meetings held jointly by the World Bank Group and the International Monetary Fund, interacts with departments and organizations (for example, when considering and preparing proposals for a Cooperation Strategy between the Russian Federation and the World Bank Group) in order to develop a common position of the Russian Federation and the World Bank Group on specific agenda items. If necessary, the Bank of Russia participates in coordinating decisions of the Government of the Russian Federation on Russia's provision of assistance to the poorest countries.
On a regular basis, the Bank of Russia participates in the preparation of reference and analytical materials on the participation of the Russian Federation in the activities of the World Bank Group.
Information interaction and exchange of information with the World Bank Group, as well as joint research and expert-analytical activities remain an important priority for cooperation. The World Bank Group provides the Bank of Russia with a valuable source of international expertise (for example, in the field of macroeconomic modeling and forecasting), as well as an effective platform for developing recommendations and standards in the field of financial regulation (for example, in the field of developing the financial sector and improving the availability and quality of financial services ).
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Among the most famous and large-scale international financial organizations is the World Bank. The activities of this institution are recognized by experts as extremely important from the point of view of the balanced development of the economies of the world's states. Among the key activities of the WB is assistance to developing countries in the field of improving the model of the national economy. To successfully solve this and other tasks, several institutions have been created in the WB structure at once. What are their specifics? How are WB functions implemented?
General information about the World Bank
What kind of institution is the World Bank? The full name and functions of this structure - how are they remarkable? The World Bank (The World Bank, WB) is which combines several different institutions.
In accordance with public data reflecting the activities of the World Bank, the main task of the bank is to increase the level economic development states by providing them with financial assistance from wealthy countries. The organization was founded in 1945. The bank is headquartered in Washington DC.
WB structure
Consider the specifics of the institutions that form the structure of the World Bank. The financial institution in question includes:
- IBRD (or International Bank for Reconstruction and Development);
- IDA (association in charge of development);
- IFC (or International Finance Corporation);
- MIGA (an agency in charge of investment guarantees);
- ICSID (a center dealing with the settlement of disputes in the framework of investment projects).
These organizations are called upon to provide loans to needy states at reasonable rates, and in some cases - interest-free. It also provides support to countries through grants. The conditions for providing appropriate assistance to the WB are the liberalization of the economy, privatization, necessary reforms in the field of education, healthcare, and improvement of infrastructure.
Let us now consider the main functions of the World Bank.
WB functions
Researchers distinguish the following range of them:
- investment activities (mainly in developing countries, in the areas of health care, as well as education);
- advisory support to national governments on economic issues, analytical activities;
- improvement of provided financial services;
- intermediary activity (in the sphere of distribution of resources between developed and economically lagging countries).
Thus, the considered one plays a significant role for the global economy. The mentioned functions of the World Bank are important from the point of view of balanced economic development modern states. Let us now consider through what mechanisms the World Bank implements them in practice. This issue can be considered in the context of the activities of the above-mentioned institutions that are part of the structure of the World Bank. Let's start with IBRD.
The specifics of IBRD activities
IBRD or the International Bank for Reconstruction and Development is an institution that, apart from the WB, is also subordinate to the UN. Many functions of the World Bank are implemented on the basis of this organization. In fact, the IBRD is the head structure of the World Bank. It can be noted that the institution was formed earlier than, in fact, the WB itself, in 1944. The International Bank for Reconstruction and Development was formed after the Bretton Woods Conference. The purpose of its establishment was to stimulate the recovery of the economies of states that suffered during the hostilities.
In the 1950s, the IBRD began to perform some of the functions of the World Bank, which we noted above - in particular, to provide loans to developing countries. In the 90s, the organization began to issue loans of the appropriate type to countries with a transitional economic system. The specificity of IBRD loans is in the long term. The institution issues loans for a period of about 15-20 years. Financial assets banks are formed by membership fees, the amount of which depends on the quotas determined for the member states.
Specificity of IDA activities
Another major structure responsible for the functions of the World Bank is IDA, or the International Development Association. It was formed in 1960. The purpose of its establishment was to provide soft loans with a long repayment period - about 40-50 years - to states characterized by low level economic development. So, for example, in 1961, the organization decided to issue appropriate loans to India, Chile, Honduras, and also Sudan. IDA not only provides loans to help governments in countries with low economic development, but also promotes the export of goods from developed countries in developing ones. Also within the competence of the IDA is the implementation of various social programs. Countries that are not able to service loans on the terms of the IBRD can count on a loan from the IDA. Since its inception, the organization has issued loans for more than 90 billion US dollars.
What does the IFC do?
The IFC, or International Finance Corporation, is another major structure that includes the World Bank Group. Its functions are reduced to the provision of loans aimed at stimulating the industry of countries with a low level of economic development. The main goal of this organization is to promote investment in projects implemented in developing countries, improve the living standards of citizens living in them. Loans from the IFC are issued to private enterprises that show good profitability figures. Loan terms are within 15 years. Over the entire period of its activity, the organization has issued loans for more than 20 billion US dollars.
Features of MIGA activities
What is especially remarkable about the World Bank is that the structure and functions of this organization are quite balancedly distributed among separate structures. Among the institutions responsible for solving a large number of tasks in the field of investment is MIGA. What does it do? MIGA, or the International Investment Guarantee Agency, is responsible for insuring relevant financial investments from various non-commercial risks, as well as consulting work in the process of communications with governments of states. MIGA stimulates the attraction of capital to developing countries in order to improve their economic performance.
The risks analyzed by the organization's experts may reflect the specifics of currency transfers, confiscation of private property, and political instability. MIGA promotes sustainability in developing countries, as well as informing investors about the prospects for investment in the economies of these countries. Guarantees are among the main instruments of MIGA activity. Since its inception, the organization has issued them in the amount of more than 17 billion US dollars. With the assistance of the institution, investments in the amount of more than 50 billion US dollars have been placed in developing countries.
The specifics of the work of ICSID
Studying the specifics that characterize the structure and functions of the World Bank, it is necessary to study the specifics of the activities of ICSID, or this organization helps protect the interests of partners participating in certain legal procedures within the framework of available legal procedures. ICSID deals with the elimination of possible non-economic barriers that accompany the interaction of states and enterprises in the process of international cooperation. The institution in question implements its functions through two main mechanisms - conciliation, as well as arbitration proceedings. ICSID services are paid, participation in them is voluntary.
Features of WB loans
Let us study the specifics of loans that are provided in order to solve the main task that is in the competence of an institution such as the World Bank - the development of states with a lagging economy. The organization provides loans in two main varieties. First, this investment loans. They are provided for the purpose of financing industrial branches in the economies of developing countries, as well as in other segments of economic systems that are important in terms of solving socio-economic problems. Secondly, it is aimed at stimulating the political development of countries. Obtaining them presupposes that the states carry out the necessary reforms.
Advisory support
In some cases, the World Bank can perform functions that actually come down to mediation between other financial institutions or investors and governments of countries in need of financial support. So, for example, obtaining the necessary loans by the state in some cases may be associated with the need for their economies and political systems to meet certain criteria that lenders want to see. The activities of the World Bank may thus be associated with advisory support to governments of states for the implementation of measures aimed at achieving compliance with the national economic and political systems the necessary criteria.
WB Group activity strategy
The main areas of WB activities, both in the region credit policy, and in the field of consulting services, are recorded in a separate document - the Strategy for the activities of the WB Group. This source is used as a key source in the interaction of the World Bank with the governments of states that are in need of financial assistance. At the same time, the strategy is of a framework nature. Specific areas of WB activity in the field of assistance to an individual state are being worked out based on the specifics of its economy and political system.
Sources of activity financing
So we've looked at some of the key aspects of an institution like the World Bank. The decoding and functions of this organization are also known to us. Let us now study such an aspect of WB activities as raising funds to finance activities. Due to what sources does this international organization operate?
Exist different ways involvement of the WB Money for development, as well as the performance of key functions. For example, with regard to IBRD loans to developing countries, the corresponding financial resources are attracted through the sale of bonds with high rating. Another source involved in the activities of the WB is equity, which is contributed by the member countries of the organization. This resource is also used to fulfill obligations related to servicing debt obligations to the IBRD. The WB also has more than 193 billion US dollars at its disposal. In practice, the organization has not yet used this resource, but it has such a right.
WB and other international organizations
So, we have studied the key features that characterize the World Bank. We also know the full name and functions of this institution. Is it possible to say that the WB is a unique institution of its kind? Partly it is. But there is another row international organizations, whose functions have certain signs of similarity with the activities of the World Bank. Let's consider some examples.
In particular, the functions of the World Bank and OPEC have a certain proximity. The fact is that a significant percentage of the states that are members of the Organization of Petroleum Exporting Countries belong to the category of developing countries. The functions of OPEC are expressed, in particular, in stimulating the development of their economy through well-established procedures for exporting the corresponding type of raw materials to world markets.
World Bank and IMF
The functions and role of the World Bank in the global economy are sufficiently close to those of these organizations. These organizations are also united by the fact that both of them were established with the aim of restoring the economies of the countries of the world after the Second World War. The principles of building the organizational structure of the WB and the IMF are quite close. So, for example, the size of the contribution of a state to the total capital of an institution determines the degree of its influence on the activities of the institution. Function similarity specified organizations can be seen in the fact that they are concentrated around solving the problems of stimulating the economic development of countries in need of external financial support - for example, due to a deficit in the balance of payments.
Created with the aim of organizing financial and technical assistance to developing countries.
In the process of its development, the World Bank has undergone various structural changes, so the term World Bank at different stages was understood as different organizations.
Initially, the World Bank was associated with the International Bank for Reconstruction and Development, which provided financial support for the reconstruction of Western Europe and Japan after World War II. Later in the city, it was created, which took over some of the functions related to the policy of this bank.
Currently, the World Bank is actually understood as two organizations:
- International Bank for Reconstruction and Development
- International Development Association
At different times, three more organizations created to solve the problems of the World Bank joined them:
- International Center for the Settlement of Investment Disputes
All five organizations are members of the World Bank Group and are referred to as the World Bank Group. In some cases, the World Bank is still referred to as the International Bank for Reconstruction and Development, which still forms the backbone of the World Bank.
Story
The World Bank is one of two (along with the International Monetary Fund) large financial institutions created as a result of the Bretton Woods Conference, held in the United States in 1944. Delegates from 45 countries, including representatives of the Soviet Union, discussed issues of economic recovery and the organization of the world economy after World War II.
The Soviet Union was one of the active participants in the Conference, but subsequently refused to participate in the activities of the International Monetary Fund and the World Bank, since, in accordance with the charter, it did not have the opportunity to influence decisions, unlike the United States of America.
In the early stages of its activity from 1968 to 1968, the World Bank did not carry out active lending due to increased requirements for borrowers. Under the leadership of the bank's first president, John McCloy, France was selected as the first borrower and was given a loan of US$250 million. Moreover, the condition for granting a loan to France was non-participation in the coalition government of the Communists. Two other bidders (Poland and Chile) did not receive assistance. In the future, the World Bank took an active part in lending to the countries of Western Europe, which actively restored the economy destroyed by the Second World War, implementing the Marshall Plan. Funding for this plan came largely from the World Bank.
In 1968-1980, the activities of the World Bank were aimed at helping developing countries. The volume and structure of loans provided increased, covering various sectors of the economy from infrastructure to solving social issues. Robert McNamara, who led the World Bank during this period, brought a technocratic management style to its activities, as he had managerial experience as the US Secretary of Defense and President of the Ford Company. McNamara created new system provision of information by potential borrowing countries, which made it possible to reduce the time for making a decision on the conditions for granting a loan.
Every three years, the World Bank Group develops a framework document: the World Bank Group Operations Strategy, which is used as the basis for country cooperation. The strategy helps to align the bank's lending programs as well as analytical and advisory services with the specific development goals of each borrowing country. The strategy includes projects and programs that can have the maximum impact on solving the problem of poverty and contribute to dynamic socio-economic development. Prior to submission to the World Bank Board of Directors, the strategy is discussed with the government of the borrowing country and other stakeholders.
Fundraising
Investment loans are provided to finance the production of goods, works and services within the framework of socio-economic development projects in various sectors.
Development loans (formerly called Structural Adjustment Loans) are provided through the allocation of financial resources to support political and institutional reforms.
The B-SPAN webcast service is an Internet portal through which the World Bank hosts seminars and conferences on topics such as sustainable development and poverty reduction.
Directions (fields) of activity
The activities of the World Bank cover a wide area of activity:
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The Bank is currently financing more than 1,800 projects in virtually all sectors of the economy in developing countries. Projects are financed in various fields of activity. Examples are the development of microcredit in Bosnia and Herzegovina, the improvement of AIDS prevention in Guinea, the promotion of girls' education in Bangladesh, the improvement of health care in Mexico, the reconstruction of East Timor, which had declared its independence, and India's assistance in the aftermath of the devastating earthquake in Gujarat.
Bank management
The World Bank is a joint stock company whose shareholders are 184 member countries of this organization. The number of votes that member countries have depends on their share in the capital of the Bank, which in turn is determined by their share in the global economy. These shareholders are represented by the Board of Governors, which is the highest decision-making and policy-making body of the Bank. As a rule, the ministers of finance of the participating countries are the governors. The Board of Governors meets once a year during the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund.
Specific authority for the management of the Bank between meetings of the Board of Governors has been delegated to 25 executive directors who work directly at the Bank's headquarters in Washington. The executive directors form the Board of Directors, which is headed by the President of the Bank. The Board of Directors consists of five executive directors representing the interests of the member states with the largest shareholdings: the United States, Japan, Germany, France and the United Kingdom. The remaining 20 Executive Directors represent groups of countries.
The Board of Directors normally meets twice a week and is responsible for the overall management of the Bank, including the approval of all loans and other decisions affecting the Bank's operations:
- approval of loans and guarantees,
- determination of the general principles of the bank's activities
- approval of the Bank's budget
- developing strategies to assist countries
- making decisions regarding borrowing and other financial matters.
The President of the World Bank (currently Jim Yong Kim) chairs meetings of the Board of Directors and is responsible for the overall direction of the Bank's operations. By tradition, the President of the World Bank is a citizen of the United States - the country that is the largest shareholder of the Bank. The President is elected by the Board of Governors for a five-year term and is eligible for re-election. Five vice presidents, including three senior vice presidents Senior Vice-Presidents) and two executive vice presidents (Eng. Executive Vice-Presidents) are responsible for specific regions, sectors, areas of activity and perform other specific functions.
The World Bank has offices in more than a hundred countries around the world, employing about 10,000 people.
World Bank Presidents
| The president | Terms of office |
|---|---|
| Eugene Meyer | June 18, 1946 - March 17, 1947 |
| John McCloy John Jay McCloy | March 17, 1947 - July 1, 1949 |
| Eugene R. Black | July 1, 1949 - January 1, 1963 |
| George D. Woods | January 1, 1963 - April 1, 1968 |
| Robert S. McNamara | April 1, 1968 - July 1, 1981 |
| Alden W. Clausen | July 1, 1981 - July 1, 1986 |
| Barber B. Conable | July 1, 1986 - September 1, 1991 |
| Lewis T. Preston | September 1, 1991 - May 4, 1995 |
| Richard Frank, acting | May 4, 1995 - June 1, 1995 |
| James D. Wolfensohn | June 1, 1995 - June 1, 2005 |
| Paul Wolfowitz | June 1, 2005 - July 1, 2007 |
| Robert Zoellick | July 1, 2007 - July 1, 2012 |
| Jim Yong Kim | from July 1, 2012 |
Membership
The condition for membership in the World Bank is membership in the International Monetary Fund, that is, each member country of the IBRD must first become a member of the International Monetary Fund. Only those countries that are members of the IBRD can be members of other organizations that are part of the World Bank Group.
The International Bank for Reconstruction and Development consists of 184 member countries. The last (January 18, 2007) admitted country was Montenegro. In accordance with the Charter of the International Bank for Reconstruction and Development, each country has a certain quota in the authorized capital, and votes are distributed in proportion to the quota when making decisions. As of 2006, the distribution of votes was as follows:
The International Development Association has 164 member countries
World Bank and Russia
Realizing the value of knowledge and experience of local specialists, the World Bank actively cooperates with them in the process of implementing its projects. 80% of the employees of the World Bank office in Moscow are national personnel. As in other countries, the World Bank, as part of its tasks, pays great attention to analytical activities and consultations.
He regularly publishes reports on economic situation in Russia . In addition, the Bank's Global Development Learning Center and the Bank's Public Information Center located in Moscow help share experience and knowledge with Russian partners.
Criticism
The activities of the World Bank have been criticized for a long time by various non-governmental organizations, scientists, among which the Nobel laureate in economics and former chief economist of the World Bank Joseph Stiglitz occupies a prominent place.
In particular, J. Stiglitz called the policy towards developing countries, developed by the IMF, the World Bank and economists in the US government, erroneous. In his opinion, if the United States had followed this policy, significant economic growth would not have occurred. He also pointed out that Russia followed the recommendations and experienced the fall real income population, and China has not followed and is experiencing an economic boom.
In particular, Joseph Stiglitz spoke sharply negatively about the World Bank's policy towards Russia, criticizing the shock therapy of the transition period.
An analysis of the development of the world economy shows that the programs of the World Bank in the form in which they were formulated did not ensure sustainable and fair development of the economy. As a result, pressure on the Bank began to grow. Non-governmental organizations at the national and international levels began to seek open and democratic consideration of alternative solutions to the policies of the World Bank.
At present (2010), the American academic Raj Patel has become a notable critic of the World Bank. He has published many critical articles on the political and pseudo-scientific practices of the World Bank.
Notes
- Official website of the World Bank in Russian
- FAQ about the World Bank
- Goldman, Michael. Imperial Nature: The World Bank and Struggles for Social Justice in the Age of Globalization. New York: Yale University Press, 2005 pp. 52-54
- World Bank Projects and Goals
- The World Bank. Goals
- World Bank Products and Services
- World Bank Operations
- The World Bank. Projects
- The World Bank. Organizational structure
- The World Bank. Key Facts
- world bank. presidents
- General information about membership in the World Bank Group (Russian) . The World Bank. archived
- World Bank Group Members. The World Bank. Archived from the original on August 24, 2011. Retrieved May 3, 2010.
- Membership Information of the World Bank Group Organizations
- The World Bank: directions of activity, criticism of its policy. Newsletter No. 98 CiG Business Consulting
- Bank adultery. Expert Online (April 13, 2004).