ChatterBank1 min ago
The World Bank
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The way I understand it, is that the World Bank is a foundation that can grant loans and fundings for poor countries. Is this correct?
I also heard that more than 100 countries are member in the world bank, including poor ones. Is this true, and how can poor countries be part of a foundation that's supposed to help poor people?
Finally, where do the World bank get their money from? Do the member countries give money from their national surplus? Is the world bank really a bank? And what currency do they use?
I also heard that more than 100 countries are member in the world bank, including poor ones. Is this true, and how can poor countries be part of a foundation that's supposed to help poor people?
Finally, where do the World bank get their money from? Do the member countries give money from their national surplus? Is the world bank really a bank? And what currency do they use?
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Hello. After reading the "official website" and all the wonderful things the World Bank are doing have a look at some other articles - heres one to get you started http://www.theemailactivist.org/WorldBank.htm
I�m quite aware of the many activities of the World Bank and its partners. In 1994, Turkey borrowed a large sum of money from the World Bank, without explaining the fine print to the people of Turkey. Of course the Turkish government had full knowledge of the loan, but forgot to explain the issue to its citizens.
The reason Turkey borrowed money was due to drought, amounting in farmers losing a lot of money. The farmers sought help from the Turkish government, asking for loans to be made, but unfortunately the Turkish government did not have to resources to give out loans. So, after a period of time, the Turkish government sought advice from the World Bank, and they came to the conclusion of lending the money on the terms that; the money would not be paid back, but starting immediately, Turkish farmers would give up the right to plant and grow, tobacco, sugar, and wheat. The farmers agreed to the terms, and after some relief, are now in a worse position then before the loan. And, not only are the farmers worse off, but the people of Turkey are paying hefty prices for products grown in their own country, that are owned by American and British companies. Since they have a monopoly on these products, changes in price cannot be challenged. It�s a win, win situation for the developed countries, but on the other hand, it�s the exact opposite for the third world countries. The trend continues; as the rich get richer, and the poor get poorer. Globalization is riding the world of a middle class. How long till only two general classes of people remain standing?
The reason Turkey borrowed money was due to drought, amounting in farmers losing a lot of money. The farmers sought help from the Turkish government, asking for loans to be made, but unfortunately the Turkish government did not have to resources to give out loans. So, after a period of time, the Turkish government sought advice from the World Bank, and they came to the conclusion of lending the money on the terms that; the money would not be paid back, but starting immediately, Turkish farmers would give up the right to plant and grow, tobacco, sugar, and wheat. The farmers agreed to the terms, and after some relief, are now in a worse position then before the loan. And, not only are the farmers worse off, but the people of Turkey are paying hefty prices for products grown in their own country, that are owned by American and British companies. Since they have a monopoly on these products, changes in price cannot be challenged. It�s a win, win situation for the developed countries, but on the other hand, it�s the exact opposite for the third world countries. The trend continues; as the rich get richer, and the poor get poorer. Globalization is riding the world of a middle class. How long till only two general classes of people remain standing?
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