Word bank in response to the COVID 19 Pandemic, has announced that this year’s Annual meeting will be held in a virtual format. You can learn more about the World Bank Civil Society Policy Forum using the link.
According to the organization incorporation with the Civil Society Policy Form Working Group; “They are launching the call for proposals for a visual CSPF to take place over the course of the weeks directly proceeding the Annual Meetings.
World bank is no doubt one of the biggest international financial institutions to offer loans and also grants. (World Bank Civil Society Policy Forum)
World Bank Civil Society Policy Forum
The World Bank Civil Society Policy Forum has become an integral part of the International Monetary Fund and World Bank Group Spring and Annual Meetings. It provides a space for Civil Society Organizations to dialogue and exchange views with the Bank and IMF staffs, their peers, government delegations, and other stakeholders.
This is done by providing a wide variety of topics, including efforts to tackle poverty reduction, boost shared prosperity, secure financial stability, promote high employment, and sustainable economic growth around the globe. (World Bank Civil Society Policy Forum)
About Civil Society Policy Forum
Civil Society Policy Forum also is known as CSPF convenes twice a year coinciding with the World Bank Group and International Monetary Fund (IMF). It has become an integral part of the WBG-IMF Meetings, providing an open space for Civil Society Organizations to dialogue and exchange views with the Bank and IMF staffs, peers, government delegations, and other stakeholders.
A core component of the CSPF is the CSO organization dialogue session that runs concurrently throughout the forum. You can learn more by visiting the website. v
What are CSOs?
CSOs consists of non-governmental organizations, community groups, labor unions, indigenous people movements, faith-based organizations, professional associations, and many others.
The representatives from the private sector, academia, or governmental body who want to apply for accreditation, must do that through “Guests”. Or any other category that will be clarified on the meeting website.
Now, with what has been said, what exactly do you understand by the World Bank and how it functions and came into existence? None, I guess. Well, that’s cool, read below to more about the bank.
World Bank is simply an international financial institution that provides poorer government countries loans and grants. That is done for the purpose of pursuing capital projects.
The organization comprises of two institutions which are the Internation Bank for Reconstruction and Development and the International Development Association.
World Bank is actually a component of the World Bank Group and it is aimed at reducing poverty in countries.
The World Bank Group can simply be said to be an extended family of five international organizations. And they are also the parent organization or the Bank. It consists of the following;
- International Bank for Reconstruction and Development also, known as IBRD
- International Development Association which is also known as IDA.
- Multilateral Investment Guarantee Agency, also known as MIGA
- International Finance Corporation, also IFC
- International Centre for Settlement of Investment Disputes, also referred to as ICSID.
Brief History of the World Bank
The bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund. The president of the bank is an American and it is based in Washington, D.C.
Even though many countries were represented at the Bretton Woods Conference, the United States and the UK were actually the most powerful in attendance and also dominated negotiations.
The aim or intention rather behind the World Bank was to provide temporary loans to low-income countries that actually obtained loans commercially.
You can learn more about World Bank using this link https://www.worldbank.org/