World Bank Group

WB (IBRD): 1945, 187 members. Has to have profit on its operations.

Charter capital= subscribed/paid

WB objective: provide loans at preferential rates to member countries + grants to the poorest countries. Loans in fields: infrastructure and governance, human development, agriculture and rural development, environmental protection.

Source of funds: capital + drawings in the world capital markets

International Development Association (IDA): 1960, 165 member states. Resources: member states contributions + returns on loans.

IDA objective: % less loans to most poor countries (81) for development projects.

International Finance Corporation (IFC): 1965, 178 members.

IFC objective: loans for development of private sector + technical assistance + temp.partnership

Multilateral Investment Guarantee Agency (MIGA): 1988, 170 members.

MIGA objective: to guarantee investors against non-commercial risks in developing countries.

International Centre for Settlement of Investment Disputes (ICSID): 1966, 156 members

ICSID objective: to provide facilities for conciliation, arbitration of int. inv. disputes.

WTO

GATT: 1974 (22 countries, Geneva). Multilateral agreement on basic principles and rules of conducting and state regulations of mutual trade. Negotiations on establishment of the trade organization succeeded only in Uruguay round => …

1994 WTO on the basis of:

• GATT-94

• General Agreement on Trade in Services (GAIS)

• Agreements on Trade-Related Aspects of Intellectual Property Rights (TRIPS)

• Trade Related Investment Measures (IRIMS)

• Dispute Settlement (DSU)

2010: 153 members, including China (2001). 95% of the world’s trade are within WTO member states. 30 countries are observers.