Importance of the World Bank

The World Bank is one of the most important financial institutions that performs its functions, such as its name says, in all regions of the world due to being international and not limited to a country or yet government. The World Bank is an organization of great importance because it is the one that allows developing countries to receive loans and credits for different works and projects. Without their help, many countries could not have carried out major modernization plans, although it is also important to note that, Like any capitalist and financial institution, its loans can mean very difficult debts to carry in some cases.

The World Bank was founded in 1944, when the end of World War II was expected. and many nations sought to establish the limits to possible unlimited growth of some regions. Thus, the World Bank as the Organization of United Nations It emerged as one of the organizations that would have the objective of controlling the links between the different nations as well as stimulating the economic revival after the war. The World Bank currently has 187 member countries that adhere to its policies.

One of the main functions of the World Bank is poverty reduction, although it is recognized that many times the Monetary aid from organizations such as this has the consequence of generating debts between developing countries and the bank. Historically, their presidents have always been US citizens, which shows that the Ultimately, the United States is the world power that decides in many aspects of the economies. regional.

The importance of the World Bank lies not only in the fact that numerous and large loans can be made through it, but also the World Bank can contribute to the governments of each region in carrying out plans to fight poverty. Thus, the rulers are given different strategies that must be followed to obtain the best results. These strategies are adapted to each particular need, since the World Bank knows that each area or region of the planet presents very different characteristics from the rest of the world.