WORLD BANK AND PAKISTAN

WORLD BANK :

World Bank was established in July 1944. It was established along wiht IMF at the 1944 Bretton woods Conference.It's first loan was to France in 1947. In 1970s, it focused on loans to developing world countries, shifting away from the mission in 1980s. For the last 30 years it has include NGO's and environmental groups in it's loan portfolio. It's headquarter is in Washington DC.

The world bank consist of five organizations :

1. The international bank for reconstruction and development. (IBRD)
2. International development Association. (IDA)
3. The international finance corporation. (IFC)
4. The multilateral investment guarantee agency. (MIGA)
5. The international centre for settlement of investment Disputes. (ICSID)

a) The international bank for reconstruction and development(IBRD):

 It was made for the reconstruction and development of infrastructure. It also gives loan to credit worthy low income countries along with SAPs (structural adjustment programs).

i) industrialization.

ii)Dam barrages.

iii)Trade and Transport.

iv)Port including airports and seaports.

b) International development Association(IDA) :

• It gives grants to other countries. It also gives credits in terms of financial assistance.
• Grants are aid  which is not to be returned.
• Grants includes rights, education and health and environmental employment.

c) International finance corporation(IFC):

 It is the largest global development institution focused exclusively on the development of private sezxtors. If the private sector is more developed. It provides more opportunity for employment. It will generate more revenue's and more chances of Federal Direct Investments (FDI).

d) Multilateral Investment Guarantee Agency(MIGA):

 The MIGA was created in 1988 to promote foreign direct investment in to developing countries to support economic growth, reduce poverty and improve people's lives. MIGA fulfills this mandate by ofering political risk insurance (gurantees) to investors and lenders.

e) International Centre For Settlement Of Investment Disputes(ICSID):

The (ICSID) provides international facilities for conciliation and arbitration of investment disputes.

World Bank And Pakistan :

i)Education

ii)Health

iii) Social safety program

iv) Agriculture

v) Crop diversification

vi)Mechanical farming

vii) Trade and transport

i) Education:

• Infrastructure development for proper and better education.
  
• Trying to improve gender (girls) enrollment ratio.
• Promoting public private partnership.

ii) Health:

 The world Bank group is committed to helping governments achieve universal health coverage (UHC) by 2030. The visionof UHC is that all people can obtain the quality health services they need without suffering financial hardships. The help is in the form of following aspects.

• infrastructure development.
• Basic health unit.
• Vaccination drive.
• Malnutrition drive.

iii) Social Safety Programme :

 Benazir Income support programme.

iv) Agriculture:

• Development of infrastructure.
• Renovation of Dams (Tarbela dams spillways) Turbines and canal re-allignment.

v) Crop diversification:

• Genetically engineered (Artificial)
• Max yield
• Harsh climate condition

In 1970's, Pakistan imported genetically modified rice seed (IR-8) from India result in five times more yield

vi) Mechanical farming:

Drip irrigation system is the most efficien water and nutrient  delivery system for growing crops. It delivers water and nutrients directly to the plants root zone, in the right amounts, at the  right time so each plant gets exactly what it needs, when it needs it, to grow optimally. It enables farmers to produce higher yields while saving on water as well as fertilizer energy.

vii) Trade and transport:

• World bank is reconstructing roads, tunnels, bridges for easing of transport.
• Enhancing special economic zones.
• Promote industrialization.