WORLD BANK
WORLD BANK
The Second World War ended leaving many of its fatal consequences for the survivors to suffer. The socio-economic structure and trade and commerce of the European countries had collapsed heavily. In their struggle to restore their countries of this fateful situation they had to confront severe lack of facilities, skilled labour and capital. To find solutions to this problem delegation from forty four countries met at Bretenwood in America in 1944 and decided on the concept of a World Bank.
The World Bank functions in combination with International Monetary fund and The Bank of Rehabilitation and Development. The principal office of this Organization is situated in Washington with its branch offices in London. Paris and New York. The main aims of this organization are to alleviate poverty of the world population, to provide capital for local and foreign investments and the maintenance of the equilibrium in the international trade and commerce.
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