INTERNATIONAL

BUSINESS
GROUP6

Title: World Bank, IMF, OECD, UNDESA, ICJ

Shubham Patil - 57
Shubham Sadhuka - 58
Sharanya Nair - 55
Sanika Pangaonkar - 52
Shabri Khandelwal - 53
Samruddhi Yadav - 51
Shiddhant Sharma - 56
Soumalya Banerjee- 59
Soumil Shah - 60
Shambhavi Adgaonkar 54
World
Bank
A Catalyst in
Globalization
The World Bank was founded in 1944 at the Bretton Woods Conference.
The original members of the World Bank were 44 countries.
Today, there are 189 member countries of the World Bank.
The World Bank is headquartered in Washington, D.C.
The World Bank has offices in over 130 countries.
The World Bank's president is Ajay Banga.
Eradicating poverty: World Bank aims to reduce poverty levels by providing financial aid and
expertise to promote sustainable development in developing nations.

Promoting shared prosperity: The bank seeks to enhance economic growth by supporting
projects that foster inclusive development, job creation, and income distribution.

Advancing sustainable development: World Bank encourages environmentally friendly

policies and investments to address climate change and environmental degradation.
 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

The world’s largest development bank, IBRD provides financial products and
policy advice to help countries reduce poverty and extend the benefits of
sustainable growth to all of their people.

Projects -
India Transforms Market for Rooftop Solar
 The International Finance Corporation (IFC) improves the lives of people in
developing countries by investing in private sector growth. They connect
economic development with humanitarian needs to create real progress for the
people and places that need it most.

Projects -
From Farm to Table Bringing a Taste of
Vietnam to the World
 The association shares the World Bank’s mission of reducing poverty and aims
to provide affordable development financing to countries whose credit risk is
so prohibitive that they cannot afford to borrow commercially or from the
Bank’s other programs.

Projects -
Covid-19 fast-tracking capabilities for poor countries
Concessional loans for Srilanka in 2022
116 Water points in Djibouti
 MIGA can help cross-border investors and lenders deal with non-commercial risks by
insuring eligible projects against losses related to:
Breach of Contract
Currency Inconvertibility and Transfer Restriction
Expropriation
War and Civil Disturbance
Non-Honoring of Financial Obligations

Projects -
Neo 1 Solar Lesotho
Provides facilities for conciliation and arbitration of international investment
disputes
Arbitrition and Reconcilation amongst member nations
Consists of Member States who are representative of countries
Secretariat who carry out day-to-day functions
 World Bank's Role in Globalization
1. Financing and lending: The World Bank offers low-interest loans, grants, and credits to countries
seeking financial assistance for development projects.
Supports infrastructure development (transportation, energy, water supply) to foster global
connectivity and economic integration.
Helps countries improve health and education systems, thus enhancing human capital and
promoting globalization.
2. Knowledge sharing and technical expertise:
Provides valuable research, analysis, and advice to member countries on economic
policies, governance, and development strategies.
Assists in building institutional capacity, promoting transparency, and improving
governance practices in developing nations.
3) Collaboration with international stakeholders:
Collaborates with other international organizations, governments, non-profit
organizations, and the private sector to address global development challenges
collectively.
Strengthens partnerships to foster inclusive growth and tackle shared global issues
like poverty, climate change, and pandemics
THE JOURNEY OF BANGLADESH TOWARDS GLOBALIZATION

Source - https://ida.worldbank.org/en/country/bangladesh
 International
Monetary Fund (IMF)

(IMF) works to achieve sustainable growth and prosperity for its 190 member
countries

Established in 1944 Headquarter in Washington, D.C With Member countries 44

Economic Growth &

Exchange Rate stability International Cooperation
Stability
 International
Monetary Fund (IMF)

Bilateral Borrowing
Member Quotas Credit Arrangements Adjustments

Major Functions of IMF

Monetaring Economic & Support for Low-Income Advisory and Technical

Financial Policies Countries Assistance

Achieve stability in Lends emergency loan Formulating sound

foreign exchange rates at 0% interest policies and building
strong institutions
 IMF'S ROLE IN GLOBALIZATION

Globalization was interrupted in the first half of

20th century by protectionism and nationalism

Role of Bretton Woods institutions

Stability and
Open and integrity of National Role of civil
Economic
transparent international ownership of society
governance
systems financial reforms organisations
systems
 IMF Achivements

Safeguarding International Financial Systems

Sovereign Debt Restructuring Mechanism (SDRM)
Supporting Mexico in the early 1980s

Providing Help for Self-Help

Special Drawing Rights (SDRs)
Trade liberalization
Brazil obtaining IMF loans

IMF Criticisms
The conditions IMF imposes on the countries it lends
money to have sometimes been criticized for being too
harsh

Greece financial crisis 2009

 OECD -ORGANIZATION FOR ECONOMIC COOPERATION AND DEVELOPMENT

Meaning
An international organization in which governments work together
to find solutions
to common challenges,
develop global standards, share experiences and identify best
practices to promote
better policies for better lives.

Purpose
To promote policies that enhance economic prosperity, social well-
being, sustainable development among
its member countries and beyond.
Platform for member countries to collaborate, exchange
information, and work together to address global challenges
Reports 2023
History: Established 1961
Headquarters: Paris, France
Secretary General: Mr Cormann
Membership: 38 countries
Key Partners: 5
Regional Programmes: 7
Country Programmes: 4
 OECD'S ROLE IN
GLOBALIZATION

Promotes fairness in globalization, provides tools for better

industrial strategies, and addresses challenges of
globalization

Capacity
Global Standardization
Policy co- Building and Data Collection
Challenge and Regulatory
ordination Development and Analysis
Solutions Cooperation
Assistance
 United Nations Department of Economic & Social
Affairs
(UNDESA)
UNDESA's mission is to promote sustainable development for all, focusing on the most
vulnerable.

Established in Reorganised in Headquarter in With Member

1948 1997 NEW YORK countries 193

Pioneer of Championing
Sustainable Provides databases inclusion, equality,
Developement eradicating poverty.
 What does
UNDESA do? INTERGOVERNMENTAL SUPPORT

ANALYSIS

CAPACITY BUILDING
 It coordinates economic, social, and environmental policies, aligning them with
global goals likeSDGs, and promoting globalisation benefits for all nations.

UNDESA collects and disseminates data on economic, social, and environmental

indicators.

ROLE OF
UNDESA IN UNDESA offers developing nations programmes for capacity building, training,
and technical assistance.

GLOBALISATION It advocates for policies that strike a balance between economic growth and
social and environmental concerns.

It fosters collaborations among governments, international organisations, civil

society, and the corporate sector.
 It conducts research on global issues like trade, investment, technology transfer,
and financial flows.

ROLE OF UNDESA offers policy recommendations to member states on globalization-

related topics.

UNDESA IN It hosts international conferences and events for representatives from various
countries to share experiences, ideas, and collaborate on addressing

GLOBALISATION globalization-related challenges.

It supports globalization-related international agreements and frameworks like

the 2030 Agenda for Sustainable Development and the Addis Ababa Action
Agenda on Financing for Development.
 International
InternationalCourt
CourtofofJustice
Justice
(ICJ)
(ICJ)

The ICJ is the only international court that adjudicates general disputes between
countries, with its rulings and opinions serving as primary sources of international law .

Headquarter in Hague, With Member countries

Established in 1945
Netherlands 193

Protection of Human Promotion of

Settlement of disputes International Law
Rights
 International Court of Justice
(ICJ)

The ICJ is the only international court that adjudicates general disputes between
countries, with its rulings and opinions serving as primary sources of international law .

Trade and Economic Cross-Cultural Environmental

Regulation Understanding Stewardship
THANK YOU!