FUNCTIONS OF WORLD BANK

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1. A word bank is an international; organization affiliated with the United Nations (UN) and designed to finance projects that enhance the economic development of the member  states. The head quarter of word bank is in Washington district of commissioner (DC), in the united states of America. The word bank is the major source of fund to the developing  countries. Word bank was founded in 1944 at the UN finance and monetary conference (Breton woods conference) held to restructure the economy of the past second world war Europe. It officially started its operation in June 1946. This is a minor source of financial assistance to the developing countries. The World Bank group consist five institutions these are
1.      International bank for reconstruction and development (BRD).
2.      The international finance corporation.
3.      The internal development association (IDA)
4.      The multilateral investments guarantee Agency (MIGA).
5.      Internal centre for settlement of investments disputes (ICSID).
The word bank is related to UN but is not accountable to neither general assembly nor to the security council of the UN.
2. There more than 180 member states represented on the board of governors. The board of governors meets once a year. The people who represent their countries in the World Bank meeting are finance ministers or governors of central Banks.
FUNCTIONS OF WORLD BANK
1.      World Bank gives loans to the countries include the developing countries to finance development projects
2.      The World Bank also finances some of the development projects in the developing countries and under developing countries to enhance economic and social welfare.
3.      The World Bank introduced the concept of sustainable development, therefore it fosters for the world sustainable development for economic development and environmental projection.
4.      It gives technical assistance and policy advice to the members states, World Bank gives economic, social and political advice to the member states
5.      On the behalf of the international creditors it supervises free market reforms.
6.      Together with the IMF and WTO, it foresees the economic policy of the developing countries and defining global economic agenda.

PROBLEMS FACED WORLD BANK
1.      World Bank face the challenge of addressing and seeking solution to put corruption in developing countries to an end corruption hinders achievements of projects they finance.
2.      The challenge of debt payment. Most of the developing and least developed countries do not pay their loan back on time.
3.      Another is to find a way out of the bank’s crisis of relevance. Its market has changed fund eventually in the past decade but the bank can not to operate in the same way and with the same product
4.      The World Bank facing criticism and continued relevance. This is due to presence of IMF and regional banking institution.
5.      Lack of reliable and consistent data in developing countries, challenges expansion of evidence based policy making
6.      There is lack of accountability in the organization.
   OBJECTIVES OF WORLD BANK
1.      This include providing a long term capital to its member nations for economic development and reconstruction
2.      Thus, it helps in including long term capital for improving the balance of payments and thereby balancing international trade.
3.      Also, it helps by providing guarantees against loans granted to large and small units and other projects for the member nations.
4.      So, it ensures that the development projects are implemented. Thus, it brings a sense of transparence for a nation from war-time to a peaceful economy.
IMPACT OF WORLD BANK IN DEVELOPING COUNTRIES
Positive impact
1.      Refund to different projects in LDCs
2.      Provide financial consultation to LDCs
3.      Eradication of poverty in LDCs
4.      Help to balance, Balance of Payment (BOP) in LDCs
5.      Provide financial policies which help to boost up LDCs economy
Negative impact
1.      Unfair terms and conditionalities. For Example Zimbabwe
2.      Increase in exportation of resources through adaption direct foreign investment resulted by free market economy.
3.      It used to as an agency to implement the policies of superpower countries.



REFERENCES
World Bank official webpage www.worldBank.org.com last visited 9th December,2019.
Dr. Kato Gogo Kington: Socha Journal of Policy and Strategic Studies 2011, The Impact of the World Bank and IMF, Structural Adjustment Programes on Africa the Case Study of COTE D’IVOIRE, SENEGAL, UGANDA & ZIMBABWE

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