Abstract
On the same pattern as that used for the IMF, this chapter deals first with the principal provisions concerning the International Bank for Reconstruction and Development, and with its functions and significance. Its origins have already been outlined in the previous chapter. We then go on to discuss the Bank’s two affiliates — the International Finance Corporation and the International Development Association.
It will be the duty of the Bank, by wise and prudent lending, to promote a policy of expansion of the world’s economy in the sense in which this term is the exact opposite of inflation.
John Maynard Keynes
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Bibliography
1. The International Bank for Reconstruction and Development
The Bank publishes regulations concerning loans.and issues, an Annual report,and Summary proceedings 19—, Annual report of the Board of Governors. The annual reports of the ICSID — the first relates to 1966/67 — contain bibliographies concerning the Centre.
Reports are issued periodically on operations in past years: World Bank operations. Sectoral programs and policies (Baltimore, 1972), or on activities in certain parts of the world (Africa, Asia, America). A general survey is given in Policies and operations, the World Bank Group (Washington, September 1974) and Questions and answers, the World Bank ( Washington, March 1976 ).
The quarterly review Finance and Development,published by the IMF and the IBRD, provides regular information about the activities of the World Bank group, e.g. E.H. Rotberg, “The World Bank — a financial appraisal I and II” (September, December 1976); R.A. Hornstein, “Cofinancing of Bank and IDA projects” (June 1977); J.H. Adler, “Development theory and the Bank’s development strategy — a review” (December 1977); “The World Bank and the world’s poorest I-VII (June 1978 up to September 1979).
See also Development finance companies. Sector policy paper (Washington, April 1976) and Annual review of project performance audit results (Washington, February 1978).
Since 1966 the Bank has been publishing a series of “Occasional Papers”; for example: H.A. Adler, Sector and project planning in transportation (Baltimore, Johns Hopkins University Press, 1967); L.Y. Pouliquen, Risk analysis in project appraisal (Baltimore, Johns Hopkins University Press, 1970); D. Lal, Methods of project analysis: a review (Baltimore, Johns Hopkins University Press, 1974); S. Reutlinger et al., Malnutrition and poverty: magnitude and policy options (Baltimore, Johns Hopkins University Press, 1976).
Among the books published for the Bank are: J. Tinbergen, The design of development (Baltimore, Johns Hopkins University Press, 1958); H.B. Chenery et al.,Patterns of development, 1950–1970 (London, Oxford University Press, 1975); The assault on world poverty: problems of rural development, education and health (Baltimore, Johns Hopkins University Press, 1975).
Partners in development (New York, 1969) is the report of the Commission on International Development (also named the Pearson Commission after its chairman), created by the Bank to examine the progress and problems experienced in the field of international aid and to make recommendations on the best policies and methods to promote the economic growth of less-developed countries. The main recommendations of the 400-page report include a plea for more aid through multilateral agencies in particular. Aid should gradually be untied, and aid loans should bear no more than 2 per cent interest. See also K. Billerbeck, “The Pearson Report. A critique”, Weltwirtschaftliches Archiv,Vol. 105, pt 1, 1970.
A. Shonfield, “The World Bank”, in The evolution of international organizations (ed. E. Luard, New York, Praeger, 1966); R. Lavalle, La Banque Mondiale et ses filiales; aspects juridiques et fonctionnement (Paris, Librairie générale de droit et de jurisprudence, 1972); The World Bank Group, multilateral aid and the 1970’s (ed. J.P. Lewis and I. Kapur, New York, Heath, 1973); E.S. Mason and R.E. Asher, The World Bank since Bretton Woods ( Washington, Brookings Institute, 1973 ).
K. Schlosser, Das Recht der internationalen privaten Schiedsgerichtsbarkeit (Tübingen, Mohr, 1975); J.K. Ryans Jr. and J.C. Baker, The International Centre for Settlement of Investment Disputes (ICSID), Journal of World Trade Law, January—February 1976.
2. The International Finance Corporation
The IFC also publishes an annual report on its activities and a report of the Board of Governors. See also Policies and operations, the World Bank Group, op. cit.; J.W. Lowe, “The IFC and the agribusiness sector”, Finance and Development, March 1977; also IFC: general policies (Washington, August 1976 ) and IFC: what it is, what it does, how it does it ( Washington, August 1976 ).
J.C. Baker, The International Finance Corporation. Origin, operations and evaluation (New York, Praeger, 1968); P.A. Hornbostel, “A new emphasis for IFC: development as a risk business”, Columbia Journal of World Business, November—December 1969; J.J. Deveaud, La Société Financière Internationale. Son rôle parmi les institutions financières de développement, Revue Economique, novembre 1978.
3. The International Development Association
In addition to the annual reports (since 1963 published jointly with the Bank), see Policies and operations, the World Bank Group, op. cit.; IDA: International Development Association (Washington, April 1977); F. Vibert, The process of replenishing IDA finances, Finance and Development,September 1977; J.H. Weaver, The International Development Association. A new approach to foreign aid (New York, Praeger, 1965), more than half of which is devoted to the origins and establishment of the IDA.
4. Aid to the less-developed countries
Statistical material on the subject is found in the annual OECD publication Development assistance,published since 1962. Since 1978 statistics concerning world development indicators have been published in an annual report by the World Bank: World Development Report.
I.M.D. Little and J.M. Clifford, International aid: a discussion of the flow of public resources from rich to poor countries with special reference to British policy (London, Allen & Unwin, 1965), discuss world aid and general principles, aid and development, donors’ problems and British aid policy.
W.G. Friedman, G. Kalmanoff and R.F. Meagher, International financial aid (New York, Columbia University Press, 1966), contains some comprehensive chapters on aid-receiving countries and some cases of projects and programmes assisted by external financing.
W.G. Zeylstra, Aid for development. The relevance of development aid to problems of developing countries (Leyden, Sijthoff, 1975) and OECD, Geographical distribution of financial flows to developing countries. Data on disbursements 1971 to 1977 (Paris, 1978).
The extracts quoted are from: B. Ward and P.T. Bauer, Two views on aid to developing countries (London, The Institute of Economic Affairs, 1966); H.G. Johnson, book review of E.S. Mason and R.E. Asher, The World Bank since Bretton Woods (Washington, The Brookings Institution, 1974 ), Economica, November 1975; E.H. Rotberg, The World Bank — a financial appraisal: II, Finance and Development, December 1976; I.M.D. Little and J.M. Clifford, International aid ( London, Allen & Unwin, 1965 ).
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van Meerhaeghe, M.A.G. (1980). The World Bank Group. In: A Handbook of International Economic Institutions. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-8860-6_3
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