The World Bank

Look through the list of English words and their Russian equivalents before reading the text:

1.to be founded (v)	быть основанным
2.staff (n)	штат, персонал
3.headquarters (n)	штаб-квартира
4.to lend (v)	давать взаймы, одалживать
5.to extend (v)	оказывать
6.to promote (v)	помогать, содействовать
7.to intermediate (v)	быть посредником
8.bond (n)	облигация

The World Bank was founded in July 1944. It is a group of four institutions: the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association and the Multilateral Investment Guarantee Agency.

The World Bank has about 40 offices throughout the world with the staff over 7,000 members including economists, engineers, agronomists, statisticians, lawyers, experts in telecommunications, water supply, transportation, education, energy, rural development, population and health care and other disciplines. The headquarters of the World Bank is situated in Washington.

The World Bank is a lending institution. The first loans were extended during the late 1940s to finance the reconstruction of the war-destroyed economies of Western Europe. When these countries recovered, the Bank turned its attention to assisting the world’s poorer nations, known as developing countries. The World Bank has one central purpose: to promote economic and social progress in developing countries by helping to raise productivity so that they may live a better and fuller life.

The World Bank is an investment bank, intermediating between investors and recipients, borrowing from the one and lending to the other. It obtains most of the funds through the issue of bonds. The World Bank also borrows money by selling bonds and notes to governments, their agencies and central banks. The proceeds of these bond sales are lent to developing countries to help to finance projects and policy that give promise of success.

The World Bank started working with the government of Belarus in 1992. The first project was focused on improving forest management in the Belavezhskaya Pushcha nature reserve. From that time the World Bank has assisted with an economic rehabilitation loan, institution building, forestry development and a number of technical assistance projects.

Ex.1. Match the English words with the appropriate Russian equivalents:

1. water supply	a) развивающиеся страны
2. health care	b) производительность, продуктивность
3. to recover	c) выручка, доход
4. developing countries	d) водоснабжение
5. productivity	e) сосредоточивать (-ся)
6. to obtain	f) восстанавливать
7. proceeds	g) здравоохранение
8. to focus on	h) получать

Ex.2. Give English equivalents from the text:

Заём, разрушенные войной экономики, обращать внимание, главная цель, жить лучшей и более полной жизнью, продажа облигаций, давать взаймы, способствовать, получать, финансировать проекты, быть посредником, средства, развитие, улучшение, заповедник, выпуск облигаций, помощь, правительство, штаб-квартира, восстанавливать.

Ex3. Say whether these statements are right or false:

1. The World Bank was founded in June 1944.

2. The World Bank has about 60 offices throughout the world.

3. The headquarters of the World Bank is situated in Washington.

4. The World Bank is a borrowing institution.

5.The World Bank has one central purpose: to promote economic and social progress in developing countries by helping to raise productivity so that they may live a better and fuller life.

6. The World Bank is an investment bank, intermediating between borrowers and recipients.

7. The World Bank also lends money by selling bonds and notes to governments, their agencies and central banks.

8. The World Bank started working with the government of Belarus in 1992.

Ex.4. Answer the questions:

1. When was the World Bank founded?

2. What institutions does it consist of?

3. How many offices does it have?

4. What kind of institution is the World Bank?

5. What is the central purpose of the World Bank?

6. In what ways does the World Bank obtain the funds?

7. When did the World Bank start working with the government of Belarus?

Ex.5.Complete the sentences:

1. The World Bank was founded in …

2. It is a group of four institutions: …

3. The World Bank has about 40 offices throughout the world with the staff over 7,000 members including…

4. The headquarters of the World Bank…

5. The World Bank is a lending …

6. The first loans were extended during the late 1940s to finance…

7. The World Bank has one central purpose: …

8. The World Bank is an investment bank, …

9. The World Bank started working with the government of Belarus …

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