The United States was a leading force in the establishment of the World Bank in 1944 and remains the largest shareholder of the World Bank today. As the only World Bank shareholder that retains veto power over changes in the Bank’s structure, the United States plays a unique role in influencing and shaping development priorities.Through the World Bank Group, the United States participates in addressing international development challenges of vital importance. The United States has a long history of generously supporting the World Bank Groups mission and has been a champion of the International Development Association (IDA), the Bank’s fund for the poorest, which provides low-interest loans and grants to developing countries for education, health, infrastructure, agriculture, communications, economic and institutional development. Theoretical framework: IDA, which was established in 1960, is the arm of the World Bank that lends to the poorest devel-oping countries .Loans are normally interest free, with a service charge less than 1 percent and have a 10 year grace period with maturities of 40 years . These loans are categorized as ODA (Official Development Assistance); and by this definition, IDA is one of the most important aid donors.
Posted on: Mon, 02 Jun 2014 02:34:20 +0000
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