The Criticism of World Bank

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Determine the criticism of World Bank.
World Bank is financial institution, not a charity organization, which means the main goal of it, is a profit, but it states that it commonwealth. Even though it struggles to help, it has its own goals to achieve. The main goals of World Bank are reduction of poverty, hunger, child mortality and providing primary education etc. All of them are implemented by loans directly from World Bank to the country, not to companies. Countries themselves guaranty the payoff of the loans, but nobody thinks about it, because they are long-term loans and have to be paid in 20 years or more. Main problem lies in the fact that a lot of countries are willing to take more loans every time they have a deficiency of budget, but the economical and structure improvements should be provided as main criteria of possibility to get a loan. It looks like WB are struggling to make the countries to be more like USA, but sometime this model would not work for different culture and location. More than a half of projects are implemented in African and Asian nations, where the social problems should be reduced. However, it’s hard to say if the loans are helping. 60% of projects are not successful and for more than 12 years World Bank has lost 12 billion dollars. The main question here is how do they survive. Almost every World Bank project is connected to American economy. World Bank is 80% United States funded. So when WB invests $1 in a project, some American company picks up the order and gets $2 as a profit and money is coming back to USA. Likewise, the president of World Bank is always an American and is connected to White House. World bank has faced a lot of criticism from different sides, but it still has positive goals and ideas, as well as its tries to provide real help. For last 15 years the level of hunger decreased from 27% to 19% worldwide. So we can say, that even after having problems, it still has progressed in achieving the goals....
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