Is the World Bank Funding to the African Region Gainful or Wasteful? A Financial Management Case for Restructuring of the World Bank
10 Pages Posted: 7 Mar 2004
Abstract
As the World Bank was essentially and originally established as a post-Second World War development - resurrection organization and as socio-economic and political conditions have changed dramatically and drastically from the mid-1940s and as the World Bank-financed developing countries' techno-economic problems have worsened, there is an urgent need for a major restructuring of the World Bank aims and objectives to tune to the realities of the present times with a view to tackle mounting and pressing problems of widening poverty gap within say a developing country by promoting grass-root economic development through self-sustainable economic development through village adoption scheme, provision of low-cost housing for low-income earners through co-operative societies and infrastructure development (mass literacy and health improvement programmes, etc.) - all geared to reduce poverty gap and bring the countries on organic development path. There is a strong financial management case for scrapping the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) in their present structure.
Keywords: World Bank, major restructuring, scrapping, poverty gap
JEL Classification: I32, I38, F34, F42
Suggested Citation: Suggested Citation