board encourage member financed
bear setup growth provides
per focused carries out operations
imbalances policy purposes countries
established
World Bank - International Bank for Reconstruction and Development (IBRD)
The "World Bank" refers to the International Bank for Reconstruction and Development (IBRD) and its affiliate, the International Development Association (IDA). The Bank' was _______together with the IMF by the Bretton Woods Conference of 1945 as an international bank for two________: to help finance the rebuilding of war-devastated areas and to aid in the advancement of less-developed________.
Operations started in 1946. The Bank is ________ partly by contributions paid by________ countries, partly by bond issues. The national contributions constitute the bank's capital and relate to the individual countries' share of world trade. The bond issues finance the lending________of the bank.
In financing the economic ________ of member countries the International Bank complements the IMF, which finances temporary balance of payments________. Loans are made to governments or government-guaranteed entities. Besides lending funds, the Bank ________technical advice to governments or other borrowers on a wide range of development problems. It________general economic surveys for governments wishing to study resources and to plan long-range ________of development.
At first devoted to the reconstruction needs of industrial countries the World Bank by the 1950s had________ its attention on the developing world. In 1956 the IBRD formed the International Finance Corporation (IFC) the purpose of which was to________growth in the private sector of developing countries and to mobilize domestic and foreign capital for this purpose. In 1960 the IBRD________the International Development Association in order to assist the poorer developing countries (those with an annual________capita GNP of less than $731 in 1980 prices). Loans to these countries________no interest and are repayable over 50 years with an initial grace period of 10 years.
The Bank's strategy has been to ensure that its aid reaches the broad masses of the people; this is to be done by investments encouraging productivity and integrating the broad masses of people as active partners into the development process.
The powers of the Bank are vested in a________of Governors.
Words you may need:
affiliate n - филиал
war-devastated areas - разоренные войной территории
bond issue - выпуск облигаций
complement v - дополнять
survey n - обследование
International Finance Corporation - Международная финансовая корпорация
repayable adj - подлежащий погашению (уплате)
grace period - льготный период
integrate v - интегрировать; включать, вовлекать (зд.)
vest v - облекать, наделять властью
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