World Bank?

Question

Can someone please assist me with some advantages and disadvangtages of being a member of the world bank.
Thanks.

Answer 1

There is actually five institutions within the World Bank, each with their own members. The one with the most is the International Bank for Research and Development (IBRD), which nearly every country is a member of (185 to be exact).

One of the biggest advantages of being a member is your right to vote. Each country has a vote, and the more interest a country has (the amount of $$$ they give), the higher the vote.
Member countries can also take out loans that they can use to fund poverty "fighting" projects.

There are many disadvantages as well. The first is the US has the highest number of votes. Many Nations don't feel that this is fair because we have the most say over the World Bank. The second is similar to the first due to the fact that the WB president is always an American, and usually has political ties to the current administration. Many nations again feel that this is unfair. Third is the "strings" that are attached to the repayment of funds and how the funds are used. Money is just not loaned, but nations have to follow strict guidelines to how it will be used. The fourth, the WB only has about $20 million to use each year, which is next to nothing when thinking about international funds.

Hope this helps!

Answer 2

A member country can easily get loans but the World Bank will dictate on what to do with their taxation and other government financial operations to guarantee the payment of the loans.

Answer 3

First, you can get loans from the world bank and you can access your money in all of the world.